Squarepoint Ops LLC boosted its position in shares of Corporate Office Properties Trust (NYSE:OFC) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,273 shares of the real estate investment trust’s stock after acquiring an additional 18,725 shares during the quarter. Squarepoint Ops LLC’s holdings in Corporate Office Properties Trust were worth $5,041,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. TRUE Private Wealth Advisors bought a new position in shares of Corporate Office Properties Trust in the 2nd quarter valued at about $25,000. Point72 Asset Management L.P. acquired a new stake in Corporate Office Properties Trust in the 2nd quarter valued at about $42,000. NumerixS Investment Technologies Inc acquired a new stake in Corporate Office Properties Trust in the 2nd quarter valued at about $71,000. Advisor Group Inc. grew its holdings 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 purchasing an additional 2,923 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Corporate Office Properties Trust during the second quarter worth about $150,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Corporate Office Properties Trust news, Director Robert L. Denton sold 2,432 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $29.63, for a total transaction of $72,060.16. Following the completion of the sale, the director now directly owns 269,568 shares in the company, valued at $7,987,299.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Denton sold 2,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.18, for a total value of $58,360.00. Following the completion of the sale, the director now directly owns 267,568 shares in the company, valued at approximately $7,807,634.24. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.31). The firm had revenue of $159.43 million during the quarter, compared to the consensus estimate of $154.65 million. Corporate Office Properties Trust had a net margin of 27.11% and a return on equity of 10.07%. Corporate Office Properties Trust’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. On average, analysts anticipate that Corporate Office Properties Trust will post 2.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.10 annualized dividend and a dividend yield of 3.80%. Corporate Office Properties Trust’s dividend payout ratio is 54.73%.
A number of brokerages have weighed in on OFC. Robert W. Baird set a $31.00 price objective on Corporate Office Properties Trust and gave the company a “buy” rating in a research note on Wednesday, August 21st. ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. downgraded Corporate Office Properties Trust from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.57.
Corporate Office Properties Trust Company 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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