Bank of New York Mellon Corp Purchases 1,403,775 Shares of Corporate Office Properties Trust (OFC)

Bank of New York Mellon Corp increased its position in Corporate Office Properties Trust (NYSE:OFC) by 92.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,922,539 shares of the real estate investment trust’s stock after buying an additional 1,403,775 shares during the quarter. Bank of New York Mellon Corp owned 2.93% of Corporate Office Properties Trust worth $95,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Cadence Capital Management LLC acquired a new position in shares of Corporate Office Properties Trust in the second quarter valued at approximately $204,000. World Asset Management Inc boosted its holdings in Corporate Office Properties Trust by 3.8% in the second quarter. World Asset Management Inc now owns 6,297 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 229 shares during the last quarter. Garner Asset Management Corp bought a new stake in Corporate Office Properties Trust in the second quarter valued at approximately $246,000. Cubist Systematic Strategies LLC bought a new stake in Corporate Office Properties Trust in the second quarter valued at approximately $248,000. Finally, Riverhead Capital Management LLC boosted its holdings in Corporate Office Properties Trust by 48.9% in the second quarter. Riverhead Capital Management LLC now owns 7,294 shares of the real estate investment trust’s stock valued at $255,000 after acquiring an additional 2,394 shares during the last quarter.

Several analysts recently commented on OFC shares. TheStreet upgraded Corporate Office Properties Trust from a “c” rating to a “b-” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, October 18th. ValuEngine upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC upgraded Corporate Office Properties Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $36.00 to $39.00 in a report on Monday, September 25th. Finally, Capital One Financial Corporation cut Corporate Office Properties Trust from an “overweight” rating to an “equal weight” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.71.

Corporate Office Properties Trust (NYSE:OFC) opened at $31.25 on Friday. The stock has a market capitalization of $3,112.78, a P/E ratio of 15.63 and a beta of 0.84. Corporate Office Properties Trust has a twelve month low of $28.27 and a twelve month high of $36.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.34.

Corporate Office Properties Trust (NYSE:OFC) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $157.00 million for the quarter, compared to analysts’ expectations of $142.74 million. Corporate Office Properties Trust had a return on equity of 5.89% and a net margin of 14.38%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. sell-side analysts anticipate that Corporate Office Properties Trust will post 2.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, December 28th. Corporate Office Properties Trust’s payout ratio is 159.42%.

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About Corporate Office Properties Trust

Corporate Office Properties Trust is a fully-integrated and self-managed real estate investment trust (REIT). The Company owns, manages, leases, develops and acquires office and data center properties. The Company’s segments are Defense/IT Locations; Regional Office; operating wholesale data center, and other.

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

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