Daiwa Securities Group Inc. Buys 3,547 Shares of Corporate Office Properties Trust (NYSE:OFC)

Posted by Defense World Staff on Jul 29th, 2023

Daiwa Securities Group Inc. boosted its stake in shares of Corporate Office Properties Trust (NYSE:OFC – Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,314 shares of the real estate investment trust’s stock after purchasing an additional 3,547 shares during the period. Daiwa Securities Group Inc.’s holdings in Corporate Office Properties Trust were worth $814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Corporate Office Properties Trust during the second quarter valued at approximately $26,000. Parallel Advisors LLC lifted its position in Corporate Office Properties Trust by 925.7% during the first quarter. Parallel Advisors LLC now owns 1,118 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,009 shares during the period. Lazard Asset Management LLC lifted its position in Corporate Office Properties Trust by 217.2% during the fourth quarter. Lazard Asset Management LLC now owns 3,372 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 2,309 shares during the period. Contravisory Investment Management Inc. raised its position in Corporate Office Properties Trust by 3,248.3% in the first quarter. Contravisory Investment Management Inc. now owns 5,893 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 5,717 shares during the period. Finally, Captrust Financial Advisors bought a new position in Corporate Office Properties Trust in the second quarter worth approximately $146,000.

Insider Activity

In related news, Director Robert L. Denton sold 3,941 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $22.95, for a total transaction of $90,445.95. Following the completion of the transaction, the director now directly owns 4,523 shares of the company’s stock, valued at $103,802.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OFC. StockNews.com began coverage on shares of Corporate Office Properties Trust in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Truist Financial decreased their price target on shares of Corporate Office Properties Trust from $28.00 to $26.00 in a research report on Wednesday, May 31st.

Corporate Office Properties Trust Stock Up 1.0 %

Shares of OFC stock opened at $26.01 on Friday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.98 and a beta of 1.02. Corporate Office Properties Trust has a one year low of $21.59 and a one year high of $28.69. The company’s fifty day moving average price is $24.11 and its 200-day moving average price is $24.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.16 and a quick ratio of 2.16.

Corporate Office Properties Trust (NYSE:OFC – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.32). The firm had revenue of $169.20 million for the quarter, compared to the consensus estimate of $150.38 million. Corporate Office Properties Trust had a net margin of 27.43% and a return on equity of 11.01%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Sell-side analysts expect that Corporate Office Properties Trust will post 2.39 EPS for the current fiscal year.

Corporate Office Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.14 annualized dividend and a dividend yield of 4.38%. Corporate Office Properties Trust’s payout ratio is 67.46%.

Corporate Office Properties Trust Profile

(Free Report)

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 (IT) related activities servicing what the Company believes are growing, durable, priority missions (Defense/IT Locations).