Bank of New York Mellon Corp cut its stake in Corporate Office Properties Trust (NYSE:OFC) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,637,387 shares of the real estate investment trust’s stock after selling 290,200 shares during the quarter. Bank of New York Mellon Corp’s holdings in Corporate Office Properties Trust were worth $47,468,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd bought a new stake in shares of Corporate Office Properties Trust in the 2nd quarter valued at about $123,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Corporate Office Properties Trust in the 2nd quarter valued at about $251,000. Glen Harbor Capital Management LLC increased its stake in shares of Corporate Office Properties Trust by 18.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 11,418 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 1,738 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Corporate Office Properties Trust by 101.6% in the 2nd quarter. First Mercantile Trust Co. now owns 15,352 shares of the real estate investment trust’s stock valued at $445,000 after acquiring an additional 7,736 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Corporate Office Properties Trust by 5,262.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,320 shares of the real estate investment trust’s stock valued at $502,000 after acquiring an additional 16,997 shares during the last quarter. 97.20% of the stock is owned by institutional investors.

NYSE OFC opened at $24.72 on Tuesday. Corporate Office Properties Trust has a 52-week low of $24.48 and a 52-week high of $31.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market cap of $2.69 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.75.

Corporate Office Properties Trust (NYSE:OFC) last posted its earnings results on Thursday, October 25th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Corporate Office Properties Trust had a return on equity of 4.30% and a net margin of 10.78%. The business had revenue of $137.41 million during the quarter, compared to analysts’ expectations of $129.45 million. As a group, sell-side analysts expect that Corporate Office Properties Trust will post 2.01 earnings per share for the current year.

A number of brokerages have recently commented on OFC. ValuEngine cut Corporate Office Properties Trust from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus reaffirmed a “sell” rating and issued a $25.00 price target on shares of Corporate Office Properties Trust in a research note on Friday, July 27th. Bank of America lowered their price target on Corporate Office Properties Trust from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Zacks Investment Research raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $29.00 price target on shares of Corporate Office Properties Trust in a research note on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $30.00.

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Corporate Office Properties Trust Profile

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

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