Principal Financial Group Inc. Purchases 4,051 Shares of Corporate Office Properties Trust (NYSE:OFC)

Principal Financial Group Inc. boosted its position in Corporate Office Properties Trust (NYSE:OFCGet Rating) by 0.8% during the second quarter, HoldingsChannel reports. The fund owned 521,798 shares of the real estate investment trust’s stock after buying an additional 4,051 shares during the quarter. Principal Financial Group Inc.’s holdings in Corporate Office Properties Trust were worth $13,666,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Corporate Office Properties Trust during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new stake in Corporate Office Properties Trust in the second quarter valued at approximately $31,000. Pinebridge Investments L.P. lifted its position in Corporate Office Properties Trust by 322.8% in the second quarter. Pinebridge Investments L.P. now owns 1,691 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,291 shares during the last quarter. Venture Visionary Partners LLC bought a new position in shares of Corporate Office Properties Trust during the second quarter valued at approximately $52,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Corporate Office Properties Trust during the second quarter valued at approximately $58,000.

Corporate Office Properties Trust Price Performance

Shares of Corporate Office Properties Trust stock opened at $27.23 on Friday. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 22.69 and a beta of 0.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a 50 day moving average price of $25.20 and a 200-day moving average price of $26.10. Corporate Office Properties Trust has a one year low of $22.22 and a one year high of $29.64.

Corporate Office Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Thursday, December 29th. Corporate Office Properties Trust’s dividend payout ratio is currently 91.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Thursday, November 3rd. Wells Fargo & Company increased their target price on Corporate Office Properties Trust from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Truist Financial cut Corporate Office Properties Trust from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $28.00 in a research report on Wednesday, September 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.25.

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).

See Also

Want to see what other hedge funds are holding OFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corporate Office Properties Trust (NYSE:OFCGet Rating).

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

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