Earnest Partners LLC Makes New $88.53 Million Investment in Corporate Office Properties Trust (NYSE:OFC)

Earnest Partners LLC bought a new position in Corporate Office Properties Trust (NYSE:OFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,357,094 shares of the real estate investment trust’s stock, valued at approximately $88,527,000.

A number of other hedge funds have also bought and sold shares of OFC. Dimensional Fund Advisors LP grew its position in Corporate Office Properties Trust by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,657,161 shares of the real estate investment trust’s stock worth $34,850,000 after acquiring an additional 25,455 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Corporate Office Properties Trust by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 1,349,969 shares of the real estate investment trust’s stock worth $28,389,000 after buying an additional 89,540 shares during the last quarter. Comerica Bank lifted its stake in shares of Corporate Office Properties Trust by 0.6% in the first quarter. Comerica Bank now owns 88,967 shares of the real estate investment trust’s stock worth $2,458,000 after buying an additional 536 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Corporate Office Properties Trust by 5.1% in the first quarter. Texas Permanent School Fund now owns 74,867 shares of the real estate investment trust’s stock worth $2,044,000 after buying an additional 3,634 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Corporate Office Properties Trust in the first quarter worth $223,000. 97.28% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on OFC. Stifel Nicolaus set a $30.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup boosted their price objective on shares of Corporate Office Properties Trust from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird set a $31.00 price objective on shares of Corporate Office Properties Trust and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, BTIG Research boosted their price objective on shares of Corporate Office Properties Trust to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Corporate Office Properties Trust has an average rating of “Hold” and a consensus price target of $28.14.

In related news, Director Robert L. Denton sold 4,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $27.73, for a total transaction of $110,920.00. Following the completion of the transaction, the director now directly owns 272,000 shares in the company, valued at approximately $7,542,560. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Greg J. Thor sold 2,507 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $29.11, for a total transaction of $72,978.77. Following the transaction, the chief accounting officer now owns 22,558 shares of the company’s stock, valued at $656,663.38. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

NYSE:OFC opened at $29.71 on Friday. The stock has a market cap of $3.33 billion, a P/E ratio of 14.78, a PEG ratio of 3.22 and a beta of 0.88. Corporate Office Properties Trust has a one year low of $20.03 and a one year high of $30.61. The company has a fifty day moving average price of $28.45 and a 200 day moving average price of $27.73. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.72 and a quick ratio of 1.72.

Corporate Office Properties Trust (NYSE:OFC) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.44. The firm had revenue of $175.07 million during the quarter, compared to analysts’ expectations of $151.18 million. Corporate Office Properties Trust had a net margin of 27.67% and a return on equity of 10.04%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. As a group, equities research analysts anticipate that Corporate Office Properties Trust will post 2.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Friday, September 27th. Corporate Office Properties Trust’s payout ratio is currently 54.73%.

About Corporate Office Properties Trust

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties 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 it believes are growing, durable, priority missions (“Defense/IT Locations”).

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

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