Hexavest Inc. Continues to Hold Stake in Corporate Office Properties Trust (NYSE:OFC)

Hexavest Inc. continued to hold its stake in shares of Corporate Office Properties Trust (NYSE:OFC) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,300 shares of the real estate investment trust’s stock at the end of the second quarter. Hexavest Inc.’s holdings in Corporate Office Properties Trust were worth $116,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. World Asset Management Inc bought a new stake in shares of Corporate Office Properties Trust during the first quarter valued at about $201,000. Bailard Inc. bought a new stake in shares of Corporate Office Properties Trust during the first quarter valued at about $202,000. LS Investment Advisors LLC boosted its position in shares of Corporate Office Properties Trust by 1.5% in the first quarter. LS Investment Advisors LLC now owns 6,552 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 97 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Corporate Office Properties Trust by 3.2% in the first quarter. Capstone Asset Management Co. now owns 8,365 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 260 shares during the last quarter. Finally, Princeton Alpha Management LP acquired a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $303,000.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded down 0.12% during mid-day trading on Tuesday, reaching $32.23. 1,280,486 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $34.57 and its 200 day moving average price is $33.64. The company has a market cap of $3.19 billion, a PE ratio of 44.21 and a beta of 0.83. Corporate Office Properties Trust has a 52-week low of $24.92 and a 52-week high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.55%. The firm had revenue of $151.44 million during the quarter, compared to analyst estimates of $138.04 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Corporate Office Properties Trust will post $0.79 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.10 annualized dividend and a dividend yield of 3.41%. Corporate Office Properties Trust’s payout ratio is 150.68%.

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Several research analysts recently commented on the stock. Mizuho cut shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Monday, July 10th. BidaskClub cut shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Stifel Nicolaus cut shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating and reduced their target price for the stock from $33.00 to $29.00 in a report on Tuesday, August 1st. They noted that the move was a valuation call. Finally, Jefferies Group LLC restated a “hold” rating and set a $36.00 target price on shares of Corporate Office Properties Trust in a report on Tuesday, July 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.75.

In related news, Director David M. Jacobstein sold 3,118 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $33.54, for a total value of $104,577.72. Following the transaction, the director now directly owns 8,633 shares of the company’s stock, valued at approximately $289,550.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven D. Kesler sold 3,637 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $35.40, for a total transaction of $128,749.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,873 shares of company stock valued at $404,400. Company insiders own 0.60% of the company’s stock.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.

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

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