Insider Buying: Corporate Office Properties Trust (OFC) CEO Purchases $100,172.70 in Stock

Corporate Office Properties Trust (NYSE:OFC) CEO Stephen E. Budorick purchased 4,023 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of $24.90 per share, for a total transaction of $100,172.70. Following the completion of the acquisition, the chief executive officer now owns 110,528 shares of the company’s stock, valued at $2,752,147.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NYSE:OFC opened at $24.21 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.12. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 2.74 and a beta of 0.75. Corporate Office Properties Trust has a 52 week low of $24.24 and a 52 week high of $31.47.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. The business had revenue of $137.41 million for the quarter, compared to analysts’ expectations of $129.45 million. Corporate Office Properties Trust had a return on equity of 4.30% and a net margin of 10.78%. As a group, analysts predict that Corporate Office Properties Trust will post 2.01 earnings per share for the current fiscal year.

A number of equities research analysts have commented on the company. ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Bank of America decreased their price target on Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Wells Fargo & Co reissued a “hold” rating on shares of Corporate Office Properties Trust in a report on Wednesday, August 15th. Robert W. Baird reissued a “hold” rating and set a $29.00 price target on shares of Corporate Office Properties Trust in a report on Wednesday, August 8th. Finally, Mizuho reissued a “hold” rating and set a $31.00 price target on shares of Corporate Office Properties Trust in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its position in shares of Corporate Office Properties Trust by 211.6% during the second quarter. SG Americas Securities LLC now owns 98,299 shares of the real estate investment trust’s stock valued at $2,850,000 after purchasing an additional 66,753 shares in the last quarter. Northern Trust Corp grew its position in shares of Corporate Office Properties Trust by 7.4% during the second quarter. Northern Trust Corp now owns 1,816,875 shares of the real estate investment trust’s stock valued at $52,671,000 after purchasing an additional 124,452 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Corporate Office Properties Trust by 17.0% during the third quarter. Frontier Capital Management Co. LLC now owns 3,145,367 shares of the real estate investment trust’s stock valued at $93,826,000 after purchasing an additional 457,705 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Corporate Office Properties Trust by 5.3% during the second quarter. Russell Investments Group Ltd. now owns 429,432 shares of the real estate investment trust’s stock valued at $12,427,000 after purchasing an additional 21,636 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Corporate Office Properties Trust by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,255,678 shares of the real estate investment trust’s stock valued at $36,403,000 after purchasing an additional 78,280 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.

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Corporate Office Properties Trust Company Profile

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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