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

Bank of America Corp DE lowered its holdings in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in COPT Defense Properties by 77.8% during the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock valued at $43,000 after buying an additional 614 shares in the last quarter. FIL Ltd grew its holdings in COPT Defense Properties by 17.8% during the 4th quarter. FIL Ltd now owns 2,591 shares of the company's stock valued at $80,000 after buying an additional 391 shares in the last quarter. USA Financial Formulas purchased a new position in COPT Defense Properties during the 4th quarter valued at approximately $90,000. Meeder Asset Management Inc. purchased a new position in COPT Defense Properties during the 4th quarter valued at approximately $110,000. Finally, Spirit of America Management Corp NY grew its holdings in COPT Defense Properties by 25.0% during the 4th quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company's stock valued at $155,000 after buying an additional 1,000 shares in the last quarter.

COPT Defense Properties Trading Up 0.7%

Shares of COPT Defense Properties stock traded up $0.20 on Friday, reaching $27.45. The company had a trading volume of 1,415,351 shares, compared to its average volume of 927,758. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 22.32 and a beta of 0.86. 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 moving average price is $26.49 and its two-hundred day moving average price is $28.86. COPT Defense Properties has a 1 year low of $23.47 and a 1 year high of $34.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.65 EPS for the quarter, hitting 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 return on equity of 9.07% and a net margin of 18.44%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were paid a dividend of $0.305 per share. This is a positive change from COPT Defense Properties's previous quarterly dividend of $0.30. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, March 31st. COPT Defense Properties's dividend payout ratio (DPR) is currently 97.60%.

Wall Street Analysts Forecast Growth

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