Keybank National Association OH Reduces Holdings in Corporate Office Properties Trust (NYSE:OFC)

Posted by Defense World Staff on Aug 23rd, 2023

Keybank National Association OH lowered its position in shares of Corporate Office Properties Trust (NYSE:OFC – Free Report) by 18.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,420 shares of the real estate investment trust’s stock after selling 4,365 shares during the period. Keybank National Association OH’s holdings in Corporate Office Properties Trust were worth $460,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Corporate Office Properties Trust by 0.6% during the third quarter. Vanguard Group Inc. now owns 16,739,476 shares of the real estate investment trust’s stock worth $388,858,000 after buying an additional 103,136 shares in the last quarter. State Street Corp grew its position in shares of Corporate Office Properties Trust by 12.9% during the first quarter. State Street Corp now owns 6,752,312 shares of the real estate investment trust’s stock worth $194,536,000 after buying an additional 769,941 shares in the last quarter. Resolution Capital Ltd grew its position in shares of Corporate Office Properties Trust by 6.8% during the fourth quarter. Resolution Capital Ltd now owns 4,747,609 shares of the real estate investment trust’s stock worth $123,153,000 after buying an additional 304,312 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Corporate Office Properties Trust by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 4,587,930 shares of the real estate investment trust’s stock worth $119,172,000 after buying an additional 48,143 shares in the last quarter. Finally, Channing Capital Management LLC grew its position in shares of Corporate Office Properties Trust by 30.2% during the first quarter. Channing Capital Management LLC now owns 3,162,863 shares of the real estate investment trust’s stock worth $74,991,000 after buying an additional 733,079 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a report on Wednesday, August 16th. Truist Financial decreased their price objective on shares of Corporate Office Properties Trust from $28.00 to $26.00 in a report on Wednesday, May 31st. Finally, StockNews.com assumed coverage on shares of Corporate Office Properties Trust in a report on Thursday, August 17th. They issued a “hold” rating for the company.

Check Out Our Latest Stock Report on OFC

Corporate Office Properties Trust Stock Down 0.2 %

Corporate Office Properties Trust stock opened at $24.92 on Wednesday. The company has a 50-day simple moving average of $25.06 and a 200-day simple moving average of $24.31. The firm has a market capitalization of $2.80 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.94 and a beta of 1.03. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.10 and a current ratio of 2.10. Corporate Office Properties Trust has a one year low of $21.59 and a one year high of $28.69.

Corporate Office Properties Trust (NYSE:OFC – Get Free Report) last released its quarterly earnings results on Friday, July 28th. 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 return on equity of 10.93% and a net margin of 27.43%. The firm’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. As a group, equities analysts expect that Corporate Office Properties Trust will post 2.41 earnings per share for the current year.

Corporate Office Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.14 annualized dividend and a dividend yield of 4.58%. Corporate Office Properties Trust’s dividend payout ratio is currently 67.46%.

About Corporate Office Properties Trust

(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).