Foster & Motley Inc. Reduces Position in Corporate Office Properties Trust (OFC)

Foster & Motley Inc. decreased its holdings in shares of Corporate Office Properties Trust (NYSE:OFC) by 56.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,709 shares of the real estate investment trust’s stock after selling 8,850 shares during the period. Foster & Motley Inc.’s holdings in Corporate Office Properties Trust were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OFC. FMR LLC grew its position in Corporate Office Properties Trust by 37.5% in the 2nd quarter. FMR LLC now owns 12,387,646 shares of the real estate investment trust’s stock worth $359,119,000 after purchasing an additional 3,378,017 shares during the last quarter. BlackRock Inc. grew its position in Corporate Office Properties Trust by 1.6% in the 2nd quarter. BlackRock Inc. now owns 11,543,460 shares of the real estate investment trust’s stock worth $334,647,000 after purchasing an additional 187,322 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Corporate Office Properties Trust by 17.0% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,145,367 shares of the real estate investment trust’s stock worth $93,826,000 after purchasing an additional 457,705 shares during the last quarter. Northern Trust Corp grew its position in Corporate Office Properties Trust by 7.4% in the 2nd quarter. Northern Trust Corp now owns 1,816,875 shares of the real estate investment trust’s stock worth $52,671,000 after purchasing an additional 124,452 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Corporate Office Properties Trust by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,605,421 shares of the real estate investment trust’s stock worth $46,541,000 after purchasing an additional 18,339 shares during the last quarter.

Corporate Office Properties Trust stock opened at $26.18 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.92 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $2.70 billion, a PE ratio of 12.90, a P/E/G ratio of 2.90 and a beta of 0.75. Corporate Office Properties Trust has a 12-month low of $24.55 and a 12-month high of $32.76.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, September 27th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.19%.

Several research firms have commented on OFC. Robert W. Baird restated a “hold” rating and issued a $29.00 target price on shares of Corporate Office Properties Trust in a research report on Wednesday, August 8th. Bank of America upgraded shares of Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, August 7th. Mizuho restated a “hold” rating and issued a $31.00 target price on shares of Corporate Office Properties Trust in a research report on Monday, August 6th. Wells Fargo & Co restated a “hold” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, August 15th. Finally, Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Corporate Office Properties Trust presently has an average rating of “Hold” and a consensus price target of $30.00.

In other news, Director David M. Jacobstein sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $30.64, for a total value of $76,600.00. Following the completion of the transaction, the director now directly owns 9,591 shares in the company, valued at $293,868.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Denton sold 3,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $29.97, for a total transaction of $89,910.00. Following the completion of the transaction, the director now owns 3,458 shares of the company’s stock, valued at $103,636.26. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Corporate Office Properties Trust Company Profile

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”).

Further Reading: Insider Trading

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)

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