Rafferty Asset Management LLC lowered its stake in Corporate Office Properties Trust (NYSE:OFC) by 18.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,173 shares of the real estate investment trust’s stock after selling 2,305 shares during the period. Rafferty Asset Management LLC’s holdings in Corporate Office Properties Trust were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OFC. BlackRock Japan Co. Ltd boosted its stake in Corporate Office Properties Trust by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 5,006 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 62 shares during the period. Envestnet Asset Management Inc. raised its position in Corporate Office Properties Trust by 290.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,452 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 4,055 shares in the last quarter. LS Investment Advisors LLC raised its position in Corporate Office Properties Trust by 75.7% in the second quarter. LS Investment Advisors LLC now owns 5,685 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 2,450 shares in the last quarter. SECOR Capital Advisors LP purchased a new position in Corporate Office Properties Trust during the second quarter worth approximately $203,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in Corporate Office Properties Trust during the second quarter worth approximately $215,000. Institutional investors and hedge funds own 98.63% of the company’s stock.

Shares of Corporate Office Properties Trust (NYSE:OFC) traded up 0.40% during midday trading on Tuesday, reaching $27.51. 238,800 shares of the company’s stock traded hands. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 27.68 and a beta of 1.02. Corporate Office Properties Trust has a 52-week low of $19.52 and a 52-week high of $30.55. The stock has a 50 day moving average of $28.74 and a 200-day moving average of $27.53.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Friday, July 29th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.14. Corporate Office Properties Trust had a return on equity of 7.92% and a net margin of 18.58%. The firm had revenue of $145.93 million for the quarter, compared to analyst estimates of $116.93 million. During the same period last year, the company earned $0.52 EPS. The company’s revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts expect that Corporate Office Properties Trust will post $2.01 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, September 28th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 111.11%.

A number of equities analysts have recently commented on OFC shares. KeyCorp lowered shares of Corporate Office Properties Trust to a “hold” rating in a research report on Friday, July 15th. Jefferies Group reissued a “hold” rating and issued a $27.00 price target on shares of Corporate Office Properties Trust in a research report on Friday, July 29th. Mizuho lifted their price target on shares of Corporate Office Properties Trust from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Corporate Office Properties Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, August 15th. Finally, BTIG Research started coverage on shares of Corporate Office Properties Trust in a research report on Thursday, August 25th. They issued a “buy” rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.25.

In other news, Director Robert L. Denton sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $29.49, for a total value of $58,980.00. Following the completion of the sale, the director now owns 306,500 shares of the company’s stock, valued at approximately $9,038,685. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David M. Jacobstein sold 1,924 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $28.36, for a total value of $54,564.64. Following the completion of the sale, the director now directly owns 9,243 shares of the company’s stock, valued at approximately $262,131.48. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust (COPT) is a self-managed real estate investment trust. The Company owns, manages, leases, develops and acquires office and data center properties. Its segments include Defense/Information Technology (IT) Locations; Regional Office; Operating Wholesale Data Center, and Other.

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