Corporate Office Properties Trust (OFC) Position Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its holdings in shares of Corporate Office Properties Trust (NYSE:OFC) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 775,724 shares of the real estate investment trust’s stock after selling 13,150 shares during the quarter. Alliancebernstein L.P. owned approximately 0.75% of Corporate Office Properties Trust worth $23,140,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Glen Harbor Capital Management LLC lifted its stake in Corporate Office Properties Trust by 18.0% during the second quarter. Glen Harbor Capital Management LLC now owns 11,418 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 1,738 shares during the last quarter. Rhumbline Advisers lifted its stake in Corporate Office Properties Trust by 0.9% during the second quarter. Rhumbline Advisers now owns 203,371 shares of the real estate investment trust’s stock worth $5,896,000 after purchasing an additional 1,831 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Corporate Office Properties Trust by 5.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 39,345 shares of the real estate investment trust’s stock worth $1,141,000 after purchasing an additional 2,038 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Corporate Office Properties Trust by 15.6% during the third quarter. Daiwa Securities Group Inc. now owns 15,600 shares of the real estate investment trust’s stock worth $465,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Corporate Office Properties Trust by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 64,790 shares of the real estate investment trust’s stock worth $1,933,000 after purchasing an additional 2,310 shares during the last quarter. Hedge funds and other institutional investors own 96.76% of the company’s stock.

In related news, CEO Stephen E. Budorick purchased 4,023 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was acquired at an average price of $24.90 per share, for a total transaction of $100,172.70. Following the completion of the purchase, the chief executive officer now directly owns 110,528 shares of the company’s stock, valued at $2,752,147.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 5,160 shares of company stock valued at $131,367 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Shares of NYSE OFC opened at $24.78 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.92 and a quick ratio of 1.92. Corporate Office Properties Trust has a twelve month low of $24.14 and a twelve month high of $31.01. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.71 and a beta of 0.79.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share for the quarter, meeting the Zacks’ 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 company had revenue of $137.41 million during the quarter, compared to analysts’ expectations of $129.45 million. As a group, sell-side analysts anticipate that Corporate Office Properties Trust will post 2.01 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, December 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.19%.

Several equities research analysts recently weighed in on OFC shares. Mizuho restated a “hold” rating and set a $31.00 target price on shares of Corporate Office Properties Trust in a research note on Monday, August 6th. Bank of America upgraded Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, August 7th. Robert W. Baird reiterated a “hold” rating and issued a $29.00 price objective on shares of Corporate Office Properties Trust in a research note on Wednesday, August 8th. Wells Fargo & Co reiterated a “hold” rating on shares of Corporate Office Properties Trust in a research note on Wednesday, August 15th. Finally, ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.50.

TRADEMARK VIOLATION NOTICE: This article was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2018/12/04/corporate-office-properties-trust-ofc-position-trimmed-by-alliancebernstein-l-p.html.

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”).

Featured Article: Fundamental Analysis – How It Helps Investors

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)

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit