Trading Report: The Northpointe Capital LLC reaches $249,000 position of Corporate Office Properties Trust (OFC)

The Northpointe Capital LLC reaches $249,000 position  of Corporate Office Properties Trust (OFC)

Northpointe Capital LLC reduced its position in Corporate Office Properties Trust (NYSE:OFC) by 58.6% during the second quarter, Holdings Channel reports. The fund owned 8,437 shares of the real estate investment trust’s stock after selling 11,926 shares during the period. Northpointe Capital LLC’s holdings in Corporate Office Properties Trust were worth $249,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $50,033,000. Goldman Sachs Group Inc. raised its position in shares of Corporate Office Properties Trust by 30.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,836,267 shares of the real estate investment trust’s stock valued at $100,663,000 after buying an additional 902,059 shares during the period. Heitman Real Estate Securities LLC acquired a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $23,378,000. V3 Capital Management L.P. acquired a new position in shares of Corporate Office Properties Trust during the first quarter valued at approximately $17,499,000. Finally, Renaissance Technologies LLC raised its position in shares of Corporate Office Properties Trust by 65.0% in the first quarter. Renaissance Technologies LLC now owns 882,100 shares of the real estate investment trust’s stock valued at $23,146,000 after buying an additional 347,600 shares during the period. Institutional investors own 98.39% of the company’s stock.

Corporate Office Properties Trust (NYSE:OFC) traded down 0.29% during mid-day trading on Friday, reaching $27.52. 1,035,356 shares of the company’s stock traded hands. The firm has a 50 day moving average of $28.29 and a 200 day moving average of $27.78. Corporate Office Properties Trust has a 1-year low of $19.52 and a 1-year high of $30.55. The firm has a market cap of $2.60 billion, a PE ratio of 27.69 and a beta of 0.89.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Friday, July 29th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.14. Corporate Office Properties Trust had a net margin of 18.58% and a return on equity of 7.92%. The company earned $145.93 million during the quarter, compared to the consensus estimate of $116.93 million. During the same period in the previous year, the firm posted $0.52 EPS. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. Analysts forecast that Corporate Office Properties Trust will post $2.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, September 28th. Corporate Office Properties Trust’s payout ratio is currently 111.11%.

OFC has been the topic of several analyst reports. KeyCorp lowered shares of Corporate Office Properties Trust to a “hold” rating in a research note on Friday, July 15th. Jefferies Group restated a “hold” rating and set a $27.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, July 29th. Mizuho raised their target price on shares of Corporate Office Properties Trust from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Corporate Office Properties Trust from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, August 15th. Finally, BTIG Research started coverage on shares of Corporate Office Properties Trust in a research note on Thursday, August 25th. They issued a “buy” rating and a $33.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Corporate Office Properties Trust presently has an average rating of “Hold” and a consensus target price of $28.14.

In other news, Director David M. Jacobstein sold 1,924 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $28.36, for a total value of $54,564.64. Following the sale, the director now owns 9,243 shares of the company’s stock, valued at $262,131.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert L. Denton sold 2,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $29.49, for a total transaction of $58,980.00. Following the completion of the sale, the director now directly owns 306,500 shares in the company, valued at approximately $9,038,685. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Corporate Office Properties Trust Company Profile

Corporate Office Properties Trust (COPT) is a self-managed real estate investment trust. The Company owns, manages, leases, develops and acquires office and data center properties. Its segments include Defense/Information Technology (IT) Locations; Regional Office; Operating Wholesale Data Center, and Other.

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