Redpoint Investment Management Pty Ltd Sells 6,714 Shares of Corporate Office Properties Trust (NYSE:OFC)

Redpoint Investment Management Pty Ltd trimmed its holdings in Corporate Office Properties Trust (NYSE:OFCGet Rating) by 39.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,094 shares of the real estate investment trust’s stock after selling 6,714 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Corporate Office Properties Trust were worth $264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in shares of Corporate Office Properties Trust by 101.9% during the 1st quarter. Jane Street Group LLC now owns 12,292 shares of the real estate investment trust’s stock valued at $351,000 after acquiring an additional 643,311 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Corporate Office Properties Trust during the 1st quarter valued at $566,000. Guggenheim Capital LLC raised its holdings in Corporate Office Properties Trust by 61.5% during the 1st quarter. Guggenheim Capital LLC now owns 14,893 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 5,671 shares during the period. Allstate Corp purchased a new stake in Corporate Office Properties Trust during the 1st quarter valued at $444,000. Finally, State Street Corp raised its holdings in Corporate Office Properties Trust by 12.9% during the 1st quarter. State Street Corp now owns 6,752,312 shares of the real estate investment trust’s stock valued at $194,536,000 after buying an additional 769,941 shares during the period.

Corporate Office Properties Trust Price Performance

Shares of OFC opened at $25.47 on Monday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $2.86 billion, a PE ratio of 21.77 and a beta of 0.94. The firm has a 50-day simple moving average of $26.56 and a two-hundred day simple moving average of $27.00. Corporate Office Properties Trust has a 1-year low of $23.89 and a 1-year high of $29.64.

Corporate Office Properties Trust Announces Dividend

The company 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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Thursday, September 29th. Corporate Office Properties Trust’s dividend payout ratio (DPR) is 94.02%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial lowered Corporate Office Properties Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $28.00 in a report on Wednesday, September 14th. They noted that the move was a valuation call. Jefferies Financial Group reduced their target price on Corporate Office Properties Trust from $29.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. StockNews.com lowered Corporate Office Properties Trust from a “buy” rating to a “sell” rating in a research note on Friday, August 5th. Finally, Wells Fargo & Company reduced their target price on Corporate Office Properties Trust from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.20.

Corporate Office Properties Trust Company Profile

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

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