Van ECK Associates Corp Trims Position in Corporate Office Properties Trust (NYSE:OFC)

Van ECK Associates Corp cut its position in Corporate Office Properties Trust (NYSE:OFC – Get Rating) by 36.5% in the third quarter, HoldingsChannel.com reports. The firm owned 6,494 shares of the real estate investment trust’s stock after selling 3,725 shares during the quarter. Van ECK Associates Corp’s holdings in Corporate Office Properties Trust were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OFC. Vanguard Group Inc. grew its stake in Corporate Office Properties Trust by 1.0% during the first quarter. Vanguard Group Inc. now owns 16,712,712 shares of the real estate investment trust’s stock valued at $476,980,000 after acquiring an additional 160,659 shares in the last quarter. State Street Corp grew its stake in Corporate Office Properties Trust by 12.9% during the first quarter. State Street Corp now owns 6,752,312 shares of the real estate investment trust’s stock valued at $194,536,000 after acquiring an additional 769,941 shares in the last quarter. Victory Capital Management Inc. grew its stake in Corporate Office Properties Trust by 6.0% during the second quarter. Victory Capital Management Inc. now owns 4,728,268 shares of the real estate investment trust’s stock valued at $123,833,000 after acquiring an additional 268,844 shares in the last quarter. Millennium Management LLC grew its stake in Corporate Office Properties Trust by 155.3% during the second quarter. Millennium Management LLC now owns 1,901,739 shares of the real estate investment trust’s stock valued at $49,807,000 after acquiring an additional 1,156,923 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Corporate Office Properties Trust by 75.4% during the second quarter. Sei Investments Co. now owns 1,103,018 shares of the real estate investment trust’s stock valued at $28,889,000 after acquiring an additional 474,261 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OFC shares. StockNews.com raised shares of Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, December 6th. JPMorgan Chase & Co. dropped their price objective on shares of Corporate Office Properties Trust to $29.00 in a research note on Thursday, December 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Corporate Office Properties Trust from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.50.

Corporate Office Properties Trust Stock Performance

Shares of NYSE:OFC opened at $27.65 on Friday. Corporate Office Properties Trust has a 52 week low of $22.22 and a 52 week high of $29.64. The stock has a market capitalization of $3.11 billion, a P/E ratio of 23.04 and a beta of 0.98. The firm has a fifty day simple moving average of $26.53 and a two-hundred day simple moving average of $26.04. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.33.

Corporate Office Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.98%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is presently 91.67%.

Corporate Office Properties Trust Company Profile

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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).