New York State Common Retirement Fund Sells 60,099 Shares of Corporate Office Properties Trust (NYSE:OFC)

New York State Common Retirement Fund lessened its holdings in shares of Corporate Office Properties Trust (NYSE:OFC) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,183,485 shares of the real estate investment trust’s stock after selling 60,099 shares during the quarter. New York State Common Retirement Fund owned 1.06% of Corporate Office Properties Trust worth $34,771,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new position in Corporate Office Properties Trust during the 4th quarter worth $28,000. Evoke Wealth LLC purchased a new position in Corporate Office Properties Trust during the 3rd quarter worth $34,000. First Bank & Trust boosted its holdings in Corporate Office Properties Trust by 449.3% during the 4th quarter. First Bank & Trust now owns 1,994 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,631 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Corporate Office Properties Trust by 93.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,100 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 1,500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Corporate Office Properties Trust during the 4th quarter worth $168,000. Institutional investors and hedge funds own 93.97% of the company’s stock.

A number of equities analysts have issued reports on the stock. Evercore ISI assumed coverage on shares of Corporate Office Properties Trust in a report on Friday, February 7th. They set a “buy” rating and a $32.00 price objective on the stock. Morgan Stanley downgraded shares of Corporate Office Properties Trust to a “sell” rating and set a $27.00 price objective on the stock. in a report on Friday, December 13th. Mizuho assumed coverage on shares of Corporate Office Properties Trust in a report on Tuesday, February 4th. They set a “neutral” rating and a $32.00 price objective on the stock. Zacks Investment Research downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Finally, ValuEngine downgraded shares of Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Corporate Office Properties Trust currently has a consensus rating of “Hold” and a consensus price target of $30.00.

In other Corporate Office Properties Trust news, Director Robert L. Denton sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $29.67, for a total transaction of $148,350.00. Following the sale, the director now directly owns 262,568 shares of the company’s stock, valued at $7,790,392.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen E. Budorick acquired 1,053 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $28.29 per share, for a total transaction of $29,789.37. Following the completion of the acquisition, the chief executive officer now owns 132,650 shares of the company’s stock, valued at $3,752,668.50. The disclosure for this purchase can be found here. Insiders purchased a total of 5,776 shares of company stock worth $165,287 over the last three months. 0.60% of the stock is owned by insiders.

Shares of NYSE:OFC opened at $30.20 on Friday. The company’s 50-day moving average is $29.72 and its 200 day moving average is $29.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.64 and a current ratio of 1.42. The company has a market capitalization of $3.32 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 3.15 and a beta of 0.87. Corporate Office Properties Trust has a fifty-two week low of $25.42 and a fifty-two week high of $30.57.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.12). The company had revenue of $157.79 million during the quarter, compared to analysts’ expectations of $149.64 million. Corporate Office Properties Trust had a return on equity of 11.45% and a net margin of 30.31%. Corporate Office Properties Trust’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. As a group, research analysts predict that Corporate Office Properties Trust will post 2.09 earnings per share for the current year.

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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