Virginia Retirement Systems ET AL Reduces Position in Corporate Office Properties Trust (NYSE:OFC)

Virginia Retirement Systems ET AL decreased its stake in shares of Corporate Office Properties Trust (NYSE:OFC) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 492,200 shares of the real estate investment trust’s stock after selling 9,100 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Corporate Office Properties Trust were worth $14,658,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Corporate Office Properties Trust by 1.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 140,650 shares of the real estate investment trust’s stock worth $3,709,000 after buying an additional 1,666 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Corporate Office Properties Trust by 2.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,567,421 shares of the real estate investment trust’s stock worth $41,333,000 after buying an additional 37,918 shares in the last quarter. Northern Trust Corp increased its position in Corporate Office Properties Trust by 4.4% during the second quarter. Northern Trust Corp now owns 1,875,939 shares of the real estate investment trust’s stock worth $49,468,000 after buying an additional 79,055 shares in the last quarter. MetLife Investment Advisors LLC increased its position in Corporate Office Properties Trust by 1.3% during the first quarter. MetLife Investment Advisors LLC now owns 67,204 shares of the real estate investment trust’s stock worth $1,835,000 after buying an additional 836 shares in the last quarter. Finally, Advisor Group Inc. increased its position in Corporate Office Properties Trust by 141.1% during the second quarter. Advisor Group Inc. now owns 4,994 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 2,923 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

In related news, Director Robert L. Denton sold 4,000 shares of Corporate Office Properties Trust stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $27.73, for a total value of $110,920.00. Following the transaction, the director now owns 272,000 shares in the company, valued at $7,542,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Denton sold 2,432 shares of Corporate Office Properties Trust stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $29.63, for a total value of $72,060.16. Following the completion of the transaction, the director now owns 269,568 shares in the company, valued at approximately $7,987,299.84. The disclosure for this sale can be found here. Insiders sold 8,939 shares of company stock worth $255,959 in the last quarter. 0.60% of the stock is owned by insiders.

Several research firms have weighed in on OFC. Stifel Nicolaus set a $30.00 price target on Corporate Office Properties Trust and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Robert W. Baird set a $31.00 price target on Corporate Office Properties Trust and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Citigroup raised their price target on Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. cut Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $28.38.

Corporate Office Properties Trust stock traded down $0.06 during midday trading on Wednesday, reaching $29.90. The stock had a trading volume of 11,959 shares, compared to its average volume of 473,369. Corporate Office Properties Trust has a twelve month low of $20.03 and a twelve month high of $30.12. The stock has a market capitalization of $3.34 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 3.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.72 and a current ratio of 1.72. The stock’s 50-day simple moving average is $29.28 and its 200 day simple moving average is $28.25.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.44. Corporate Office Properties Trust had a return on equity of 10.04% and a net margin of 27.67%. The firm had revenue of $175.07 million for the quarter, compared to analysts’ expectations of $151.18 million. During the same quarter last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts predict that Corporate Office Properties Trust will post 2.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Friday, September 27th. Corporate Office Properties Trust’s payout ratio is currently 54.73%.

Corporate Office Properties Trust Profile

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties 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 it believes are growing, durable, priority missions (“Defense/IT Locations”).

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Institutional Ownership by Quarter for Corporate Office Properties Trust (NYSE:OFC)

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