Earnest Partners LLC Makes New $88.53 Million Investment in Corporate Office Properties Trust (NYSE:OFC)

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Earnest Partners LLC acquired a new position in shares of Corporate Office Properties Trust (NYSE:OFC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,357,094 shares of the real estate investment trust’s stock, valued at approximately $88,527,000. Earnest Partners LLC owned approximately 3.00% of Corporate Office Properties Trust at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Corporate Office Properties Trust by 1.2% in the 2nd quarter. BlackRock Inc. now owns 12,752,454 shares of the real estate investment trust’s stock valued at $336,282,000 after buying an additional 155,808 shares during the period. FMR LLC boosted its stake in Corporate Office Properties Trust by 33.1% during the 1st quarter. FMR LLC now owns 12,463,394 shares of the real estate investment trust’s stock valued at $340,250,000 after purchasing an additional 3,096,607 shares during the period. Principal Financial Group Inc. boosted its stake in Corporate Office Properties Trust by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,402,346 shares of the real estate investment trust’s stock valued at $92,884,000 after purchasing an additional 538,554 shares during the period. Renaissance Technologies LLC boosted its stake in Corporate Office Properties Trust by 64.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,901,607 shares of the real estate investment trust’s stock valued at $50,145,000 after purchasing an additional 748,300 shares during the period. Finally, Northern Trust Corp boosted its stake in Corporate Office Properties Trust by 4.4% during the 2nd quarter. Northern Trust Corp now owns 1,875,939 shares of the real estate investment trust’s stock valued at $49,468,000 after purchasing an additional 79,055 shares during the period. 97.28% of the stock is owned by institutional investors.

OFC stock opened at $29.71 on Friday. Corporate Office Properties Trust has a 52 week low of $20.03 and a 52 week high of $30.61. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88. The firm’s 50-day moving average is $28.45 and its two-hundred day moving average is $27.73. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.05.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.44. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. The company had revenue of $175.07 million for the quarter, compared to the consensus estimate of $151.18 million. During the same period in the previous year, the firm earned $0.51 EPS. Corporate Office Properties Trust’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Corporate Office Properties Trust will post 2.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.70%. Corporate Office Properties Trust’s payout ratio is currently 54.73%.

In related news, Director Robert L. Denton sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $27.73, for a total value of $110,920.00. Following the sale, the director now directly owns 272,000 shares in the company, valued at approximately $7,542,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Greg J. Thor sold 2,507 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $29.11, for a total transaction of $72,978.77. Following the completion of the sale, the chief accounting officer now owns 22,558 shares in the company, valued at $656,663.38. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

A number of research firms have issued reports on OFC. Stifel Nicolaus set a $30.00 target price on shares of Corporate Office Properties Trust and gave the company a “hold” rating in a research note on Wednesday, July 31st. Robert W. Baird set a $31.00 target price on shares of Corporate Office Properties Trust and gave the company a “buy” rating in a research note on Wednesday, August 21st. BTIG Research boosted their target price on shares of Corporate Office Properties Trust to $33.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Citigroup boosted their target price on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.14.

Corporate Office Properties Trust 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?).

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

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