Northern Trust Corp Increases Stock Position in Corporate Office Properties Trust (NYSE:OFC)

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Northern Trust Corp grew its position in Corporate Office Properties Trust (NYSE:OFC) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,875,939 shares of the real estate investment trust’s stock after purchasing an additional 79,055 shares during the period. Northern Trust Corp’s holdings in Corporate Office Properties Trust were worth $49,468,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Corporate Office Properties Trust by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 140,650 shares of the real estate investment trust’s stock valued at $3,709,000 after purchasing an additional 1,666 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Corporate Office Properties Trust by 2.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,567,421 shares of the real estate investment trust’s stock valued at $41,333,000 after purchasing an additional 37,918 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of Corporate Office Properties Trust by 1.3% in the first quarter. MetLife Investment Advisors LLC now owns 67,204 shares of the real estate investment trust’s stock valued at $1,835,000 after purchasing an additional 836 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Corporate Office Properties Trust by 141.1% in the second quarter. Advisor Group Inc. now owns 4,994 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Corporate Office Properties Trust by 132.9% in the first quarter. Centersquare Investment Management LLC now owns 10,270 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 5,860 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

NYSE OFC traded up $0.24 during trading hours on Thursday, reaching $29.22. 3,138 shares of the company were exchanged, compared to its average volume of 604,579. Corporate Office Properties Trust has a 1 year low of $20.03 and a 1 year high of $30.55. The business’s 50 day simple moving average is $28.70 and its 200-day simple moving average is $27.82. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $3.27 billion, a P/E ratio of 14.56, a P/E/G ratio of 3.16 and a beta of 0.88.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.44. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. The business had revenue of $175.07 million during the quarter, compared to the consensus estimate of $151.18 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corporate Office Properties Trust will post 2.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, September 27th. This represents a $1.10 dividend on an annualized basis and a yield of 3.76%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.73%.

Several analysts have recently commented on OFC shares. Citigroup increased their target price on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Robert W. Baird set a $31.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “buy” rating in a report on Wednesday, August 21st. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Stifel Nicolaus set a $30.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, BTIG Research raised their price objective on shares of Corporate Office Properties Trust to $33.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.14.

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

About Corporate Office Properties Trust

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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