Private Advisor Group LLC Buys Shares of 7,028 Corporate Office Properties Trust (OFC)

Private Advisor Group LLC bought a new stake in shares of Corporate Office Properties Trust (NYSE:OFC) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 7,028 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Corporate Office Properties Trust by 111.0% in the 3rd quarter. Victory Capital Management Inc. now owns 245,220 shares of the real estate investment trust’s stock worth $7,315,000 after purchasing an additional 128,990 shares during the period. Nissay Asset Management Corp Japan ADV bought a new stake in Corporate Office Properties Trust during the third quarter valued at about $211,000. Frontier Capital Management Co. LLC raised its holdings in Corporate Office Properties Trust by 17.0% during the third quarter. Frontier Capital Management Co. LLC now owns 3,145,367 shares of the real estate investment trust’s stock valued at $93,826,000 after acquiring an additional 457,705 shares during the period. Arizona State Retirement System raised its holdings in Corporate Office Properties Trust by 3.4% during the third quarter. Arizona State Retirement System now owns 73,322 shares of the real estate investment trust’s stock valued at $2,187,000 after acquiring an additional 2,406 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in Corporate Office Properties Trust during the third quarter valued at about $234,000. Institutional investors and hedge funds own 96.76% of the company’s stock.

In other news, CEO Stephen E. Budorick bought 4,023 shares of Corporate Office Properties Trust stock in a transaction dated Monday, November 19th. The shares were purchased at an average cost of $24.90 per share, with a total value of $100,172.70. Following the completion of the acquisition, the chief executive officer now owns 110,528 shares of the company’s stock, valued at approximately $2,752,147.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 5,160 shares of company stock worth $131,367 over the last ninety days. Insiders own 0.60% of the company’s stock.

Shares of OFC stock opened at $24.47 on Monday. Corporate Office Properties Trust has a 12-month low of $24.14 and a 12-month high of $31.01. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $2.66 billion, a PE ratio of 12.05, a PEG ratio of 2.71 and a beta of 0.79.

Corporate Office Properties Trust (NYSE:OFC) last issued its earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Corporate Office Properties Trust had a return on equity of 4.30% and a net margin of 10.78%. The firm had revenue of $137.41 million for the quarter, compared to analysts’ expectations of $129.45 million. As a group, analysts predict that Corporate Office Properties Trust will post 2.01 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.10 annualized dividend and a dividend yield of 4.50%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 54.19%.

A number of research firms have commented on OFC. Robert W. Baird reissued a “hold” rating and set a $29.00 price target on shares of Corporate Office Properties Trust in a report on Wednesday, August 8th. Bank of America raised Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, August 7th. Mizuho reissued a “hold” rating and set a $31.00 price target on shares of Corporate Office Properties Trust in a report on Monday, August 6th. Wells Fargo & Co reissued a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, August 15th. Finally, ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Corporate Office Properties Trust has a consensus rating of “Hold” and an average price target of $29.50.

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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”).

Further Reading: What is a balanced fund?

Want to see what other hedge funds are holding OFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corporate Office Properties Trust (NYSE:OFC).

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

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