Oppenheimer Asset Management Inc. Has $1.08 Million Stock Position in Corporate Office Properties Trust (NYSE:OFC)

Posted by Defense World Staff on Aug 27th, 2023

Oppenheimer Asset Management Inc. raised its stake in Corporate Office Properties Trust (NYSE:OFC – Free Report) by 11.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,408 shares of the real estate investment trust’s stock after acquiring an additional 4,598 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corporate Office Properties Trust were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Corporate Office Properties Trust during the fourth quarter valued at approximately $29,594,000. State Street Corp increased its stake in shares of Corporate Office Properties Trust by 12.9% in the 1st quarter. State Street Corp now owns 6,752,312 shares of the real estate investment trust’s stock valued at $194,536,000 after buying an additional 769,941 shares during the period. Channing Capital Management LLC raised 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 acquiring an additional 733,079 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Corporate Office Properties Trust by 101.9% during the first quarter. Jane Street Group LLC now owns 12,292 shares of the real estate investment trust’s stock valued at $351,000 after acquiring an additional 643,311 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Corporate Office Properties Trust by 373.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 594,775 shares of the real estate investment trust’s stock valued at $14,102,000 after acquiring an additional 469,143 shares during the last quarter.

Analysts Set New Price Targets

OFC has been the subject of several recent research reports. Truist Financial dropped their price objective on Corporate Office Properties Trust from $28.00 to $26.00 in a report on Wednesday, May 31st. Evercore ISI increased their price objective on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Wednesday, August 16th. Finally, StockNews.com started coverage on shares of Corporate Office Properties Trust in a report on Thursday, August 17th. They set a “hold” rating for the company.

Check Out Our Latest Research Report on OFC

Corporate Office Properties Trust Trading Down 0.7 %

Shares of NYSE OFC opened at $25.10 on Friday. Corporate Office Properties Trust has a twelve month low of $21.59 and a twelve month high of $28.69. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.95 and a beta of 1.03. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.22. The company’s fifty day moving average is $25.13 and its 200-day moving average is $24.29.

Corporate Office Properties Trust (NYSE:OFC – Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.32). Corporate Office Properties Trust had a net margin of 27.43% and a return on equity of 10.93%. The business had revenue of $169.20 million during the quarter, compared to analyst estimates of $150.38 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Corporate Office Properties Trust’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities research analysts predict that Corporate Office Properties Trust will post 2.41 EPS for the current year.

Corporate Office Properties Trust Dividend Announcement

The business also recently disclosed 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. This represents a $1.14 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, September 28th. Corporate Office Properties Trust’s dividend payout ratio is 67.46%.

Corporate Office Properties Trust Company 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).