Corporate Office Properties Trust (NYSE:OFC) declared a quarterly dividend on Friday, November 10th, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.275 per share by the real estate investment trust on Tuesday, January 16th. This represents a $1.10 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, December 28th.
Corporate Office Properties Trust has a payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Corporate Office Properties Trust to earn $2.03 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 54.2%.
Corporate Office Properties Trust (OFC) opened at $29.22 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.34. Corporate Office Properties Trust has a 1-year low of $28.88 and a 1-year high of $36.03. The company has a market cap of $3,180.00, a PE ratio of 42.35 and a beta of 0.81.
In other news, insider Paul R. Adkins purchased 10,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were purchased at an average price of $29.06 per share, for a total transaction of $290,600.00. Following the transaction, the insider now owns 29,465 shares of the company’s stock, valued at $856,252.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lisa G. Trimberger purchased 3,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was purchased at an average price of $30.39 per share, for a total transaction of $91,170.00. Following the transaction, the director now directly owns 1,464 shares in the company, valued at approximately $44,490.96. The disclosure for this purchase can be found here. 0.60% of the stock is owned by company insiders.
OFC has been the topic of a number of research analyst reports. Jefferies Group restated a “buy” rating and issued a $38.00 price target on shares of Corporate Office Properties Trust in a research note on Wednesday, December 6th. Evercore ISI upgraded shares of Corporate Office Properties Trust from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Bank of America downgraded shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Mizuho restated a “hold” rating and issued a $32.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, November 24th. Finally, Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and a consensus price target of $33.57.
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About Corporate Office Properties Trust
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.
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