Corporate Office Properties Trust (NYSE:OFC) Shares Sold by BlackRock Inc.

Posted by on Mar 10th, 2023

BlackRock Inc. lessened its stake in Corporate Office Properties Trust (NYSE:OFC – Get Rating) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 16,824,453 shares of the real estate investment trust’s stock after selling 196,580 shares during the period. BlackRock Inc. owned about 14.97% of Corporate Office Properties Trust worth $390,832,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of Corporate Office Properties Trust by 155.3% in the second quarter. Millennium Management LLC now owns 1,901,739 shares of the real estate investment trust’s stock worth $49,807,000 after acquiring an additional 1,156,923 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Corporate Office Properties Trust in the second quarter worth $27,000. Bank of Nova Scotia acquired a new position in shares of Corporate Office Properties Trust in the second quarter worth $918,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Corporate Office Properties Trust by 14.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 56,002 shares of the real estate investment trust’s stock worth $1,301,000 after acquiring an additional 7,233 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of Corporate Office Properties Trust by 32.9% in the second quarter. Edgestream Partners L.P. now owns 38,629 shares of the real estate investment trust’s stock worth $1,012,000 after acquiring an additional 9,566 shares in the last quarter.

Analyst Upgrades and Downgrades

OFC has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of Corporate Office Properties Trust from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. StockNews.com raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, December 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Corporate Office Properties Trust to $29.00 in a research report on Thursday, December 1st.

Corporate Office Properties Trust Price Performance

Corporate Office Properties Trust stock opened at $24.67 on Friday. The stock has a market cap of $2.77 billion, a P/E ratio of 16.12 and a beta of 1.02. The company has a fifty day simple moving average of $26.60 and a 200-day simple moving average of $25.97. Corporate Office Properties Trust has a 12-month low of $22.22 and a 12-month high of $29.64. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.30.

Corporate Office Properties Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a dividend of $0.285 per share. This is a boost from Corporate Office Properties Trust’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Thursday, March 30th. Corporate Office Properties Trust’s payout ratio is 71.90%.

Corporate Office Properties Trust Profile

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Corporate Office Properties Trust, Inc is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other.

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

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