Corporate Office Properties Trust (OFC) To Go Ex-Dividend on March 28th
Corporate Office Properties Trust (NYSE:OFC) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Shareholders of record on Friday, March 30th will be given a dividend of 0.275 per share by the real estate investment trust on Monday, April 16th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, March 28th.
Corporate Office Properties Trust has a dividend payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Corporate Office Properties Trust to earn $2.10 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 52.4%.
Corporate Office Properties Trust (OFC) opened at $25.61 on Friday. The stock has a market cap of $2,609.06, a P/E ratio of 12.75, a PEG ratio of 7.50 and a beta of 0.74. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. Corporate Office Properties Trust has a 52 week low of $24.77 and a 52 week high of $36.03.
In other news, CEO Stephen E. Budorick bought 1,600 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average cost of $26.26 per share, with a total value of $42,016.00. Following the completion of the transaction, the chief executive officer now directly owns 103,242 shares in the company, valued at approximately $2,711,134.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert L. Denton sold 1,500 shares of Corporate Office Properties Trust stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $26.25, for a total transaction of $39,375.00. Following the completion of the transaction, the director now directly owns 2,508 shares in the company, valued at $65,835. The disclosure for this sale can be found here. Over the last three months, insiders bought 5,400 shares of company stock worth $138,944. 0.60% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on OFC shares. Jefferies Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Corporate Office Properties Trust in a research note on Wednesday, December 6th. TheStreet cut shares of Corporate Office Properties Trust from a “b-” rating to a “c” rating in a research note on Friday, February 9th. ValuEngine cut shares of Corporate Office Properties Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks set a $30.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Monday, January 22nd. Finally, Mizuho reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Corporate Office Properties Trust in a research note on Friday, November 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $30.88.
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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