Insider Buying: Corporate Office Properties Trust (OFC) CEO Buys 2,070 Shares of Stock

Corporate Office Properties Trust (NYSE:OFC) CEO Stephen E. Budorick acquired 2,070 shares of the business’s stock in a transaction on Thursday, December 6th. The stock was acquired at an average price of $24.14 per share, with a total value of $49,969.80. Following the acquisition, the chief executive officer now owns 112,598 shares in the company, valued at approximately $2,718,115.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

OFC stock opened at $24.40 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. 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 12 month low of $23.54 and a 12 month high of $31.01.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. The business had revenue of $137.41 million during the quarter, compared to the consensus estimate of $129.45 million. Corporate Office Properties Trust had a net margin of 10.78% and a return on equity of 4.30%. On average, sell-side analysts expect that Corporate Office Properties Trust will post 2.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, December 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.51%. Corporate Office Properties Trust’s dividend payout ratio is currently 54.19%.

A number of analysts have commented on OFC shares. Wells Fargo & Co reiterated a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, August 15th. Bank of America cut their price objective on shares of Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, October 29th. Finally, ValuEngine downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.29.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Glen Harbor Capital Management LLC increased its holdings in shares of Corporate Office Properties Trust by 18.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,418 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 1,738 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Corporate Office Properties Trust by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 203,371 shares of the real estate investment trust’s stock worth $5,896,000 after buying an additional 1,831 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Corporate Office Properties Trust by 5.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 39,345 shares of the real estate investment trust’s stock worth $1,141,000 after buying an additional 2,038 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Corporate Office Properties Trust by 10.6% during the 3rd quarter. Hsbc Holdings PLC now owns 21,432 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 2,058 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Corporate Office Properties Trust by 15.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 15,600 shares of the real estate investment trust’s stock worth $465,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.

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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”).

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Insider Buying and Selling by Quarter for Corporate Office Properties Trust (NYSE:OFC)

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