Bank of Nova Scotia Reduces Stock Holdings in Corporate Office Properties Trust (NYSE:OFC)

Posted by Defense World Staff on May 26th, 2023

Bank of Nova Scotia decreased its position in Corporate Office Properties Trust (NYSE:OFC – Get Rating) by 60.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,824 shares of the real estate investment trust’s stock after selling 18,416 shares during the period. Bank of Nova Scotia’s holdings in Corporate Office Properties Trust were worth $307,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in Corporate Office Properties Trust in the fourth quarter valued at approximately $25,000. Point72 Hong Kong Ltd bought a new stake in Corporate Office Properties Trust during the 2nd quarter valued at $26,000. Signaturefd LLC raised its holdings in Corporate Office Properties Trust by 319.5% during the 3rd quarter. Signaturefd LLC now owns 1,078 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 821 shares during the period. AdvisorNet Financial Inc bought a new stake in Corporate Office Properties Trust during the 4th quarter valued at $31,000. Finally, US Bancorp DE raised its holdings in Corporate Office Properties Trust by 46.1% during the 3rd quarter. US Bancorp DE now owns 2,908 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 918 shares during the period.

Analysts Set New Price Targets

OFC has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Corporate Office Properties Trust from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, March 16th. StockNews.com initiated coverage on shares of Corporate Office Properties Trust in a report on Thursday, May 18th. They set a “hold” rating on the stock.

Corporate Office Properties Trust Trading Down 0.9 %

Corporate Office Properties Trust stock opened at $22.06 on Friday. The stock has a market cap of $2.48 billion, a P/E ratio of 12.90, a PEG ratio of 0.84 and a beta of 1.02. Corporate Office Properties Trust has a fifty-two week low of $21.59 and a fifty-two week high of $28.69. The firm’s fifty day moving average price is $23.07 and its 200-day moving average price is $25.25. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.16 and a current ratio of 2.16.

Corporate Office Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.14 annualized dividend and a dividend yield of 5.17%. Corporate Office Properties Trust’s payout ratio is currently 66.67%.

Insider Transactions at Corporate Office Properties Trust

In other news, Director Robert L. Denton sold 3,941 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $22.95, for a total value of $90,445.95. Following the transaction, the director now owns 4,523 shares of the company’s stock, valued at $103,802.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

About Corporate Office Properties Trust

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Corporate Office Properties Trust 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.