Corporate Office Properties Trust (NYSE: OFC) Sees Large Increase in Short Interest

Corporate Office Properties Trust (NYSE: OFC – Get Rating) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 5,380,000 shares, an increase of 42.0% from the May 15th total of 3,790,000 shares. Based on an average daily trading volume, of 715,400 shares, the days-to-cover ratio is presently 7.5 days. Approximately 4.8% of the company’s shares are short sold.

Shares of Corporate Office Properties Trust stock traded up $ 0.67 during trading hours on Wednesday, reaching $ 26.35. The company’s stock had a trading volume of 84,699 shares, compared to its average volume of 803,418. Corporate Office Properties Trust has a one year low of $ 23.89 and a one year high of $ 30.51. The company has a market capitalization of $ 2.96 billion, a P / E ratio of 20.38, a P / E / G ratio of 2.19 and a beta of 0.95. The stock’s fifty-day simple moving average is $ 27.05 and its two-hundred day simple moving average is $ 27.06. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.79 and a current ratio of 1.79.

Corporate Office Properties Trust (NYSE: OFC – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $ 0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $ 0.56 by ($ 0.04). Corporate Office Properties Trust had a net margin of 19.78% and a return on equity of 6.67%. The business had revenue of $ 195.48 million during the quarter, compared to the consensus estimate of $ 168.33 million. During the same period last year, the business posted $ 0.56 earnings per share. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, research analysts forecast that Corporate Office Properties Trust will post 2.34 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $ 0.275 per share. This represents a $ 1.10 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, June 29th. Corporate Office Properties Trust’s payout ratio is currently 87.30%.

Separately, StockNews.com upgraded shares of Corporate Office Properties Trust from a “hold” rating to a “buy” rating in a report on Monday, May 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $ 28.33.

In other Corporate Office Properties Trust news, CAO Greg J. Thor sold 2,333 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $ 28.79, for a total value of $ 67,167.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Denton sold 3,416 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $ 26.74, for a total transaction of $ 91,343.84. Following the completion of the sale, the director now owns 3,941 shares of the company’s stock, valued at $ 105,382.34. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its position in shares of Corporate Office Properties Trust by 3.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 287,063 shares of the real estate investment trust’s stock valued at $ 8,029,000 after purchasing an additional 10,858 shares in the last quarter. Sei Investments Co. lifted its position in shares of Corporate Office Properties Trust by 3.8% during the fourth quarter. Sei Investments Co. now owns 717,853 shares of the real estate investment trust’s stock valued at $ 20,083,000 after purchasing an additional 26,287 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Corporate Office Properties Trust by 60.5% during the fourth quarter. Renaissance Technologies LLC now owns 196,296 shares of the real estate investment trust’s stock valued at $ 5,490,000 after purchasing an additional 73,996 shares in the last quarter. Man Group plc lifted its position in shares of Corporate Office Properties Trust by 9.8% during the third quarter. Man Group plc now owns 323,900 shares of the real estate investment trust’s stock valued at $ 8,739,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Fox Run Management LLC bought a new position in shares of Corporate Office Properties Trust during the fourth quarter valued at about $ 215,000.

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).

Further Reading

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