Citigroup Inc. reduced its holdings in shares of Corporate Office Properties Trust (NYSE:OFC) by 64.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 58,740 shares of the real estate investment trust’s stock after selling 106,884 shares during the period. Citigroup Inc. owned about 0.05% of Corporate Office Properties Trust worth $1,235,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in Corporate Office Properties Trust by 142.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,700 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 1,000 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Corporate Office Properties Trust during the 4th quarter valued at $91,000. Private Advisor Group LLC bought a new stake in Corporate Office Properties Trust during the 3rd quarter valued at $210,000. Quantbot Technologies LP bought a new stake in Corporate Office Properties Trust during the 3rd quarter valued at $243,000. Finally, Redpoint Investment Management Pty Ltd bought a new stake in Corporate Office Properties Trust during the 3rd quarter valued at $255,000. 96.27% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Stephen E. Budorick purchased 1,206 shares of the business’s stock in a transaction dated Monday, December 31st. The shares were acquired at an average cost of $20.74 per share, for a total transaction of $25,012.44. Following the acquisition, the chief executive officer now owns 119,284 shares of the company’s stock, valued at approximately $2,473,950.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Denton sold 4,000 shares of Corporate Office Properties Trust stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $26.79, for a total value of $107,160.00. Following the completion of the transaction, the director now owns 276,000 shares in the company, valued at $7,394,040. The disclosure for this sale can be found here. Insiders bought a total of 4,625 shares of company stock worth $95,776 over the last quarter. Company insiders own 0.60% of the company’s stock.

OFC has been the subject of a number of research analyst reports. Stifel Nicolaus raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a research report on Thursday, January 3rd. ValuEngine raised Corporate Office Properties Trust from a “sell” rating to a “hold” rating in a research report on Thursday, December 6th. Wells Fargo & Co set a $25.00 target price on Corporate Office Properties Trust and gave the company a “market perform” rating in a research report on Wednesday, January 16th. They noted that the move was a valuation call. Bank of America lowered Corporate Office Properties Trust from a “buy” rating to a “neutral” rating and decreased their target price for the company from $31.00 to $27.00 in a research report on Friday, November 30th. Finally, Robert W. Baird raised Corporate Office Properties Trust from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.80.

Shares of NYSE:OFC opened at $27.00 on Friday. Corporate Office Properties Trust has a 12-month low of $20.03 and a 12-month high of $31.01. The firm has a market capitalization of $2.98 billion, a PE ratio of 13.43, a P/E/G ratio of 2.86 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.12.

Corporate Office Properties Trust (NYSE:OFC) last announced its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.50. Corporate Office Properties Trust had a return on equity of 4.64% and a net margin of 12.49%. The business had revenue of $138.48 million for the quarter, compared to the consensus estimate of $152.94 million. During the same period last year, the business posted $0.53 EPS. The business’s revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Corporate Office Properties Trust will post 2.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a $0.275 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.07%. Corporate Office Properties Trust’s dividend payout ratio is presently 54.73%.

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About Corporate Office Properties Trust

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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