Corporate Office Properties Trust (NYSE:OFC – Get Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Investors of record on Thursday, June 30th will be given a dividend of 0.275 per share by the real estate investment trust on Friday, July 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Wednesday, June 29th.
Corporate Office Properties Trust has a dividend payout ratio of 96.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Corporate Office Properties Trust to earn $2.46 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 44.7%.
OFC stock opened at $25.53 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 1.28. Corporate Office Properties Trust has a fifty-two week low of $23.89 and a fifty-two week high of $30.51. The firm’s 50-day simple moving average is $27.62 and its 200 day simple moving average is $27.17. The stock has a market cap of $2.87 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95.
Corporate Office Properties Trust (NYSE:OFC – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). Corporate Office Properties Trust had a return on equity of 6.67% and a net margin of 19.78%. The firm had revenue of $195.48 million during the quarter, compared to analyst estimates of $168.33 million. During the same period last year, the business earned $0.56 EPS. The firm’s revenue was up 26.6% on a year-over-year basis. Equities analysts forecast that Corporate Office Properties Trust will post 2.34 EPS for the current fiscal year.
In other news, CAO Greg J. Thor sold 2,333 shares of the firm’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $28.79, for a total transaction of $67,167.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Taylor Pickett acquired 20,000 shares of Corporate Office Properties Trust stock in a transaction dated Thursday, February 24th. The shares were acquired at an average price of $24.97 per share, with a total value of $499,400.00. The disclosure for this purchase can be found here. Company insiders own 0.85% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in OFC. D. E. Shaw & Co. Inc. acquired a new position in shares of Corporate Office Properties Trust in the fourth quarter worth about $202,000. Guggenheim Capital LLC lifted its position in shares of Corporate Office Properties Trust by 19.8% in the fourth quarter. Guggenheim Capital LLC now owns 9,222 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 1,525 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Corporate Office Properties Trust in the fourth quarter worth approximately $264,000. Natixis Advisors L.P. purchased a new stake in shares of Corporate Office Properties Trust in the first quarter worth approximately $302,000. Finally, Susquehanna International Group LLP lifted its position in shares of Corporate Office Properties Trust by 205.7% in the fourth quarter. Susquehanna International Group LLP now owns 18,628 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 12,535 shares in the last quarter.
OFC has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Corporate Office Properties Trust in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 18th. Finally, Capital One Financial reiterated an “overweight” rating on shares of Corporate Office Properties Trust in a research report on Wednesday, January 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.50.
About Corporate Office Properties Trust (Get Rating)
COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is 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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