Bank of America Corp DE Cuts Position in COPT Defense Properties (NYSE:CDP)

Bank of America Corp DE lessened its holdings in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,724,947 shares of the company's stock after selling 286,370 shares during the quarter. Bank of America Corp DE owned approximately 2.42% of COPT Defense Properties worth $84,337,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. FIL Ltd increased its position in COPT Defense Properties by 17.8% during the fourth quarter. FIL Ltd now owns 2,591 shares of the company's stock worth $80,000 after purchasing an additional 391 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of COPT Defense Properties by 77.8% during the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock worth $43,000 after buying an additional 614 shares during the last quarter. M&T Bank Corp raised its position in shares of COPT Defense Properties by 3.1% during the 4th quarter. M&T Bank Corp now owns 21,889 shares of the company's stock valued at $677,000 after buying an additional 663 shares during the period. Xponance Inc. lifted its holdings in COPT Defense Properties by 5.9% in the fourth quarter. Xponance Inc. now owns 16,157 shares of the company's stock valued at $500,000 after acquiring an additional 905 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its position in COPT Defense Properties by 25.0% in the fourth quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company's stock worth $155,000 after acquiring an additional 1,000 shares during the period.

COPT Defense Properties Stock Up 2.9%

Shares of CDP stock traded up $0.77 on Thursday, reaching $27.21. 721,406 shares of the stock were exchanged, compared to its average volume of 920,314. COPT Defense Properties has a twelve month low of $23.47 and a twelve month high of $34.22. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 22.12 and a beta of 0.86. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The business's 50 day moving average price is $26.47 and its 200 day moving average price is $28.95.

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

COPT Defense Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were paid a dividend of $0.305 per share. This is an increase from COPT Defense Properties's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.22 annualized dividend and a dividend yield of 4.48%. COPT Defense Properties's dividend payout ratio is 97.60%.

Analysts Set New Price Targets

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

COPT Defense Properties Company Profile

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.