Glenmede Trust Co. NA Maintains Stake in Corporate Office Properties Trust (OFC)

Glenmede Trust Co. NA held its position in Corporate Office Properties Trust (NYSE:OFC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,273 shares of the real estate investment trust’s stock at the end of the first quarter. Glenmede Trust Co. NA owned 0.15% of Corporate Office Properties Trust worth $4,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Corporate Office Properties Trust by 9.4% in the first quarter. State Street Corp now owns 4,397,989 shares of the real estate investment trust’s stock worth $145,575,000 after buying an additional 376,490 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Corporate Office Properties Trust during the first quarter worth $454,000. Amalgamated Bank increased its position in Corporate Office Properties Trust by 3.2% in the first quarter. Amalgamated Bank now owns 14,992 shares of the real estate investment trust’s stock worth $496,000 after buying an additional 463 shares during the period. BlackRock Inc. increased its position in Corporate Office Properties Trust by 5,196.2% in the first quarter. BlackRock Inc. now owns 10,192,603 shares of the real estate investment trust’s stock worth $337,374,000 after buying an additional 10,000,151 shares during the period. Finally, Morgan Stanley increased its position in Corporate Office Properties Trust by 4.7% in the first quarter. Morgan Stanley now owns 909,255 shares of the real estate investment trust’s stock worth $30,096,000 after buying an additional 41,105 shares during the period. 98.62% of the stock is currently owned by institutional investors and hedge funds.

Corporate Office Properties Trust (OFC) traded down 0.64% during midday trading on Tuesday, hitting $35.56. The company’s stock had a trading volume of 66,397 shares. The company’s 50 day moving average price is $34.01 and its 200 day moving average price is $32.78. Corporate Office Properties Trust has a 12 month low of $24.92 and a 12 month high of $36.03. The firm has a market cap of $3.50 billion, a P/E ratio of 293.88 and a beta of 0.88.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Corporate Office Properties Trust had a net margin of 4.56% and a return on equity of 1.90%. The firm had revenue of $139.80 million during the quarter, compared to the consensus estimate of $135.16 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts expect that Corporate Office Properties Trust will post $0.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, June 28th. Corporate Office Properties Trust’s payout ratio is 1,000.09%.

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A number of research firms recently weighed in on OFC. BidaskClub raised Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. ValuEngine raised Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “neutral” rating and set a $36.00 price objective (up from $32.00) on shares of Corporate Office Properties Trust in a report on Tuesday, May 30th. Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, Evercore ISI reissued an “underperform” rating and set a $32.00 price objective on shares of Corporate Office Properties Trust in a report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Corporate Office Properties Trust has a consensus rating of “Hold” and an average price target of $32.88.

In related news, Director Steven D. Kesler sold 3,637 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $35.40, for a total value of $128,749.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Denton sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $34.51, for a total transaction of $69,020.00. Following the completion of the transaction, the director now directly owns 294,500 shares of the company’s stock, valued at approximately $10,163,195. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,873 shares of company stock valued at $404,400. Insiders own 0.60% of the company’s stock.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.

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

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