Shares of Corporate Office Properties Trust (NYSE:OFC) rose 5.9% during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $28.76 and last traded at $28.59, approximately 2,171,591 shares traded hands during trading. An increase of 200% from the average daily volume of 724,297 shares. The stock had previously closed at $27.00.

The real estate investment trust reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.44. Corporate Office Properties Trust had a net margin of 13.28% and a return on equity of 4.74%. The business had revenue of $175.07 million for the quarter, compared to analysts’ expectations of $151.18 million. During the same period in the prior year, the firm earned $0.51 earnings per share. Corporate Office Properties Trust’s revenue was up 19.3% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.10 annualized dividend and a dividend yield of 3.85%. Corporate Office Properties Trust’s dividend payout ratio (DPR) is currently 54.73%.

A number of brokerages have issued reports on OFC. KeyCorp set a $79.00 price objective on shares of Prologis and gave the company a “buy” rating in a research note on Tuesday, April 23rd. BTIG Research cut shares of Tableau Software from a “buy” rating to a “neutral” rating in a research note on Monday, June 10th. Finally, Zacks Investment Research cut shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Corporate Office Properties Trust presently has a consensus rating of “Hold” and an average target price of $27.14.

In related news, Director David M. Jacobstein sold 3,458 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $28.13, for a total transaction of $97,273.54. Following the sale, the director now directly owns 9,565 shares in the company, valued at $269,063.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Corporate Office Properties Trust by 2.1% during the 1st quarter. BlackRock Inc. now owns 12,596,646 shares of the real estate investment trust’s stock worth $343,888,000 after purchasing an additional 257,097 shares during the last quarter. FMR LLC increased its stake in shares of Corporate Office Properties Trust by 33.1% during the 1st quarter. FMR LLC now owns 12,463,394 shares of the real estate investment trust’s stock worth $340,250,000 after purchasing an additional 3,096,607 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Corporate Office Properties Trust by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,402,346 shares of the real estate investment trust’s stock worth $92,884,000 after purchasing an additional 538,554 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Corporate Office Properties Trust by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,657,161 shares of the real estate investment trust’s stock worth $34,850,000 after purchasing an additional 25,455 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Corporate Office Properties Trust by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 1,349,969 shares of the real estate investment trust’s stock worth $28,389,000 after purchasing an additional 89,540 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

The stock has a market cap of $3.01 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.89 and a beta of 0.87. The firm has a 50 day moving average price of $27.53. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.14.

Corporate Office Properties Trust Company Profile (NYSE:OFC)

COPT is a REIT that owns, manages, leases, develops and selectively acquires office and data center properties 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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