Bank of America Corp DE Sells 286,370 Shares of COPT Defense Properties (NYSE:CDP)

Bank of America Corp DE cut its stake in shares of COPT Defense Properties (NYSE:CDP) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,724,947 shares of the company’s stock after selling 286,370 shares during the period. Bank of America Corp DE’s holdings in COPT Defense Properties were worth $84,337,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Algert Global LLC increased its position in shares of COPT Defense Properties by 4.2% in the fourth quarter. Algert Global LLC now owns 483,968 shares of the company’s stock worth $14,979,000 after purchasing an additional 19,332 shares during the last quarter. AXA S.A. increased its position in shares of COPT Defense Properties by 250.4% in the fourth quarter. AXA S.A. now owns 27,508 shares of the company’s stock worth $851,000 after purchasing an additional 19,657 shares during the last quarter. Adelante Capital Management LLC increased its position in shares of COPT Defense Properties by 27.5% in the fourth quarter. Adelante Capital Management LLC now owns 18,329 shares of the company’s stock worth $567,000 after purchasing an additional 3,953 shares during the last quarter. AQR Capital Management LLC increased its position in shares of COPT Defense Properties by 32.5% in the fourth quarter. AQR Capital Management LLC now owns 1,103,627 shares of the company’s stock worth $33,981,000 after purchasing an additional 270,508 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of COPT Defense Properties by 19.4% in the fourth quarter. Northern Trust Corp now owns 1,737,815 shares of the company’s stock worth $53,785,000 after purchasing an additional 281,834 shares during the last quarter.

COPT Defense Properties Stock Up 0.9%

Shares of NYSE CDP opened at $26.78 on Monday. COPT Defense Properties has a one year low of $23.47 and a one year high of $34.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38. The firm’s 50 day simple moving average is $26.48 and its two-hundred day simple moving average is $29.02. The stock has a market capitalization of $3.02 billion, a P/E ratio of 21.77 and a beta of 0.86.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. The business had revenue of $187.86 million for the quarter, compared to analysts’ expectations of $186.37 million. During the same period last year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were given a dividend of $0.305 per share. This is a boost from COPT Defense Properties’s previous quarterly dividend of $0.30. This represents a $1.22 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, March 31st. COPT Defense Properties’s dividend payout ratio (DPR) is presently 97.60%.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on shares of COPT Defense Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $31.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.43.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.