State of Tennessee Treasury Department Has $1.78 Million Stake in Corporate Office Properties Trust (OFC)

State of Tennessee Treasury Department cut its stake in Corporate Office Properties Trust (NYSE:OFC) by 44.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,700 shares of the real estate investment trust’s stock after selling 40,000 shares during the period. State of Tennessee Treasury Department owned approximately 0.05% of Corporate Office Properties Trust worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Cadence Capital Management LLC purchased a new stake in shares of Corporate Office Properties Trust in the second quarter valued at approximately $204,000. World Asset Management Inc purchased a new stake in shares of Corporate Office Properties Trust in the first quarter valued at approximately $201,000. Bailard Inc. purchased a new stake in shares of Corporate Office Properties Trust in the first quarter valued at approximately $202,000. LS Investment Advisors LLC grew its position in shares of Corporate Office Properties Trust by 1.5% in the first quarter. LS Investment Advisors LLC now owns 6,552 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 97 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Corporate Office Properties Trust in the second quarter valued at approximately $262,000.

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OFC has been the subject of a number of analyst reports. Jefferies Group LLC restated a “neutral” rating and issued a $36.00 price target (up from $32.00) on shares of Corporate Office Properties Trust in a research report on Tuesday, May 30th. ValuEngine upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Mizuho lowered Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a research report on Monday, July 10th. Finally, Zacks Investment Research lowered Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.33.

Corporate Office Properties Trust (NYSE:OFC) opened at 32.60 on Wednesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 44.72 and a beta of 0.84. The company has a 50-day moving average price of $32.86 and a 200 day moving average price of $33.70. Corporate Office Properties Trust has a 12 month low of $24.92 and a 12 month high of $36.03.

Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $151.44 million during the quarter, compared to analysts’ expectations of $138.04 million. Corporate Office Properties Trust had a net margin of 15.86% and a return on equity of 6.55%. Corporate Office Properties Trust’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. Equities analysts predict that Corporate Office Properties Trust will post $0.79 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.10 annualized dividend and a yield of 3.37%. Corporate Office Properties Trust’s payout ratio is currently 150.68%.

Corporate Office Properties Trust Company Profile

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.

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

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