Legal & General Group Plc Buys 48,822 Shares of Corporate Office Properties Trust (NYSE:OFC)

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Legal & General Group Plc raised its holdings in Corporate Office Properties Trust (NYSE:OFC) by 12.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 429,083 shares of the real estate investment trust’s stock after acquiring an additional 48,822 shares during the period. Legal & General Group Plc owned approximately 0.42% of Corporate Office Properties Trust worth $11,083,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OFC. The Manufacturers Life Insurance Company raised its holdings in shares of Corporate Office Properties Trust by 13.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 164,754 shares of the real estate investment trust’s stock valued at $4,810,000 after buying an additional 19,218 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Corporate Office Properties Trust by 27.2% during the 4th quarter. Arizona State Retirement System now owns 71,697 shares of the real estate investment trust’s stock valued at $2,094,000 after buying an additional 15,321 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Corporate Office Properties Trust during the 4th quarter valued at about $237,000. BlackRock Inc. raised its holdings in shares of Corporate Office Properties Trust by 5.6% during the 4th quarter. BlackRock Inc. now owns 11,314,176 shares of the real estate investment trust’s stock valued at $330,375,000 after buying an additional 604,417 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Corporate Office Properties Trust by 17.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 271,955 shares of the real estate investment trust’s stock valued at $7,941,000 after buying an additional 40,004 shares in the last quarter.

Corporate Office Properties Trust stock traded up $0.84 during trading hours on Friday, reaching $29.89. The company had a trading volume of 1,507,435 shares, compared to its average volume of 868,600. The stock has a market capitalization of $2.98 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 7.00 and a beta of 0.67. Corporate Office Properties Trust has a 12-month low of $24.55 and a 12-month high of $34.38. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.88 and a quick ratio of 1.88.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Thursday, July 26th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. The firm had revenue of $146.70 million for the quarter, compared to analyst estimates of $155.10 million. Corporate Office Properties Trust had a return on equity of 4.49% and a net margin of 10.48%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. sell-side analysts expect that Corporate Office Properties Trust will post 2.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were given a $0.275 dividend. The ex-dividend date was Thursday, June 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.68%. Corporate Office Properties Trust’s dividend payout ratio is currently 54.19%.

In other news, Director Robert L. Denton sold 2,508 shares of Corporate Office Properties Trust stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $26.69, for a total value of $66,938.52. Following the sale, the director now directly owns 3,458 shares in the company, valued at approximately $92,294.02. The sale was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by company insiders.

OFC has been the topic of a number of research reports. Jefferies Financial Group reissued a “$28.83” rating on shares of Corporate Office Properties Trust in a report on Wednesday, July 18th. Wells Fargo & Co initiated coverage on Corporate Office Properties Trust in a report on Friday, April 20th. They set a “market perform” rating and a $29.00 price objective on the stock. Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Finally, Stifel Nicolaus reaffirmed a “sell” rating and issued a $25.00 price target on shares of Corporate Office Properties Trust in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.00.

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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