D. E. Shaw & Co. Inc. Purchases New Position in Corporate Office Properties Trust (OFC)

D. E. Shaw & Co. Inc. purchased a new position in shares of Corporate Office Properties Trust (NYSE:OFC) in the fourth quarter, HoldingsChannel reports. The firm purchased 975,339 shares of the real estate investment trust’s stock, valued at approximately $20,512,000.

Other large investors have also modified their holdings of the company. Two Sigma Investments LP purchased a new position in Corporate Office Properties Trust during the 4th quarter valued at about $7,321,000. Principal Financial Group Inc. increased its holdings in Corporate Office Properties Trust by 75.5% during the 4th quarter. Principal Financial Group Inc. now owns 2,863,792 shares of the real estate investment trust’s stock valued at $60,226,000 after acquiring an additional 1,231,957 shares in the last quarter. Crestline Management LP purchased a new position in Corporate Office Properties Trust during the 4th quarter valued at about $1,153,000. Caxton Associates LP purchased a new position in Corporate Office Properties Trust during the 4th quarter valued at about $951,000. Finally, Mackay Shields LLC purchased a new position in Corporate Office Properties Trust during the 4th quarter valued at about $1,510,000. Hedge funds and other institutional investors own 95.03% of the company’s stock.

Shares of NYSE:OFC opened at $27.51 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.96 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.88 and a beta of 1.03. Corporate Office Properties Trust has a 12-month low of $20.03 and a 12-month high of $31.01.

Corporate Office Properties Trust (NYSE:OFC) last issued its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $138.48 million during the quarter, compared to analyst estimates of $152.94 million. Corporate Office Properties Trust had a net margin of 12.49% and a return on equity of 4.64%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities research analysts predict that Corporate Office Properties Trust will post 2.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.275 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.00%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 54.73%.

In other Corporate Office Properties Trust news, Director Robert L. Denton sold 1,500 shares of the business’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $25.65, for a total transaction of $38,475.00. Following the completion of the sale, the director now owns 280,000 shares in the company, valued at $7,182,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen E. Budorick bought 1,206 shares of the stock in a transaction on Monday, December 31st. The shares were acquired at an average price of $20.74 per share, with a total value of $25,012.44. Following the purchase, the chief executive officer now owns 119,284 shares of the company’s stock, valued at $2,473,950.16. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 4,625 shares of company stock valued at $95,776. Insiders own 0.60% of the company’s stock.

OFC has been the subject of a number of recent research reports. Stifel Nicolaus upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 price target for the company in a report on Thursday, January 3rd. ValuEngine raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Thursday, December 6th. Wells Fargo & Co set a $25.00 price target on shares of Corporate Office Properties Trust and gave the stock a “market perform” rating in a research note on Wednesday, January 16th. They noted that the move was a valuation call. Bank of America lowered shares of Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $27.00 in a research note on Friday, November 30th. Finally, Robert W. Baird upgraded shares of Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.80.

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

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