Corporate Office Properties Trust (NYSE:OFC) Stake Boosted by JPMorgan Chase & Co.


Share on StockTwits

JPMorgan Chase & Co. increased its stake in Corporate Office Properties Trust (NYSE:OFC) by 24.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,259,481 shares of the real estate investment trust’s stock after acquiring an additional 247,091 shares during the period. JPMorgan Chase & Co.’s holdings in Corporate Office Properties Trust were worth $32,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Tennessee Treasury Department increased its stake in Corporate Office Properties Trust by 10.2% in the 3rd quarter. State of Tennessee Treasury Department now owns 431,565 shares of the real estate investment trust’s stock worth $10,237,000 after purchasing an additional 40,000 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Corporate Office Properties Trust by 900.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,584,407 shares of the real estate investment trust’s stock valued at $171,721,000 after acquiring an additional 5,926,466 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Corporate Office Properties Trust by 12.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,586,959 shares of the real estate investment trust’s stock valued at $37,643,000 after acquiring an additional 174,753 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in shares of Corporate Office Properties Trust during the 3rd quarter valued at about $1,563,000. Finally, Presima Inc. lifted its holdings in shares of Corporate Office Properties Trust by 3.3% during the 4th quarter. Presima Inc. now owns 127,800 shares of the real estate investment trust’s stock valued at $3,333,000 after buying an additional 4,119 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of OFC stock opened at $27.04 on Thursday. Corporate Office Properties Trust has a 12 month low of $20.93 and a 12 month high of $28.50. The firm has a market cap of $3.03 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 2.45 and a beta of 1.00. The stock has a 50 day moving average of $26.75 and a 200-day moving average of $25.71. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.32.

Corporate Office Properties Trust (NYSE:OFC) last released its quarterly earnings data on Wednesday, February 3rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). Corporate Office Properties Trust had a net margin of 9.67% and a return on equity of 3.49%. As a group, equities analysts predict that Corporate Office Properties Trust will post 2.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Tuesday, March 30th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 54.19%.

Several equities research analysts have recently issued reports on OFC shares. Truist upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a report on Monday, March 15th. Wells Fargo & Company upgraded Corporate Office Properties Trust from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $26.00 to $30.00 in a report on Thursday, December 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $30.00 in a report on Tuesday, December 15th. Mizuho upgraded Corporate Office Properties Trust from a “neutral” rating to a “buy” rating and lifted their price target for the company from $27.00 to $30.00 in a report on Monday, January 11th. Finally, Truist Securities upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $32.00 in a report on Monday, March 22nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.92.

In other Corporate Office Properties Trust news, CAO Greg J. Thor sold 3,880 shares of the company’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $28.01, for a total value of $108,678.80. Also, Director Robert L. Denton sold 1,500 shares of the company’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $27.06, for a total value of $40,590.00. Following the completion of the sale, the director now owns 3,986 shares in the company, valued at $107,861.16. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Corporate Office Properties Trust Profile

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (ÂITÂ) related activities servicing what it believes are growing, durable, priority missions (ÂDefense/IT LocationsÂ).

See Also: What are catch-up contributions?

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)

Receive News & Ratings for Corporate Office Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corporate Office Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.