Rhumbline Advisers Buys 2,223 Shares of Corporate Office Properties Trust (NYSE:OFC)

Rhumbline Advisers lifted its stake in shares of Corporate Office Properties Trust (NYSE:OFC) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 412,828 shares of the real estate investment trust’s stock after purchasing an additional 2,223 shares during the period. Rhumbline Advisers owned 0.37% of Corporate Office Properties Trust worth $9,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OFC. Norges Bank bought a new stake in shares of Corporate Office Properties Trust during the 4th quarter worth approximately $29,594,000. State Street Corp raised its stake in Corporate Office Properties Trust by 12.9% in the 1st quarter. State Street Corp now owns 6,752,312 shares of the real estate investment trust’s stock valued at $194,536,000 after acquiring an additional 769,941 shares during the period. Channing Capital Management LLC raised its stake in Corporate Office Properties Trust by 30.2% in the 1st quarter. Channing Capital Management LLC now owns 3,162,863 shares of the real estate investment trust’s stock valued at $74,991,000 after acquiring an additional 733,079 shares during the period. Jane Street Group LLC raised its stake in Corporate Office Properties Trust by 101.9% in the 1st quarter. Jane Street Group LLC now owns 12,292 shares of the real estate investment trust’s stock valued at $351,000 after acquiring an additional 643,311 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Corporate Office Properties Trust by 373.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 594,775 shares of the real estate investment trust’s stock valued at $14,102,000 after acquiring an additional 469,143 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Evercore ISI increased their price target on Corporate Office Properties Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a research note on Wednesday, August 16th. Truist Financial dropped their price target on Corporate Office Properties Trust from $28.00 to $26.00 in a research note on Wednesday, May 31st. StockNews.com began coverage on Corporate Office Properties Trust in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price objective on Corporate Office Properties Trust from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, August 30th.

Corporate Office Properties Trust Stock Performance

Shares of NYSE OFC opened at $26.14 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.10 and a quick ratio of 2.10. The stock’s fifty day moving average price is $25.35 and its two-hundred day moving average price is $24.27. Corporate Office Properties Trust has a one year low of $21.59 and a one year high of $28.69. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 0.99 and a beta of 1.03.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.32). The firm had revenue of $169.20 million during the quarter, compared to analyst estimates of $150.38 million. Corporate Office Properties Trust had a net margin of 27.43% and a return on equity of 10.93%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. On average, equities analysts forecast that Corporate Office Properties Trust will post 2.41 EPS for the current year.

Corporate Office Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Thursday, September 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 67.46%.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (IT) related activities servicing what the Company believes are growing, durable, priority missions (Defense/IT Locations).