Waterfront Capital Partners LLC Grows Stock Position in COPT Defense Properties (NYSE:CDP)

Waterfront Capital Partners LLC boosted its stake in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 709,216 shares of the company's stock after purchasing an additional 215,773 shares during the period. COPT Defense Properties comprises 4.0% of Waterfront Capital Partners LLC's portfolio, making the stock its 14th largest holding. Waterfront Capital Partners LLC owned about 0.63% of COPT Defense Properties worth $21,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CDP. Alliancebernstein L.P. increased its position in COPT Defense Properties by 813.0% during the fourth quarter. Alliancebernstein L.P. now owns 6,247,854 shares of the company's stock valued at $193,371,000 after acquiring an additional 5,563,548 shares during the last quarter. Norges Bank purchased a new stake in shares of COPT Defense Properties during the 4th quarter valued at about $45,718,000. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of COPT Defense Properties by 192.9% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company's stock worth $35,847,000 after purchasing an additional 762,840 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of COPT Defense Properties by 61.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company's stock worth $59,001,000 after buying an additional 723,486 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of COPT Defense Properties by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company's stock worth $81,689,000 after buying an additional 710,491 shares during the last quarter.

Analysts Set New Price Targets

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

COPT Defense Properties Stock Up 0.5 %

Shares of CDP traded up $0.14 during midday trading on Wednesday, reaching $25.72. 593,088 shares of the stock were exchanged, compared to its average volume of 914,675. COPT Defense Properties has a 52 week low of $23.47 and a 52 week high of $34.22. 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 company's 50 day moving average is $26.55 and its two-hundred day moving average is $29.35. The company has a market capitalization of $2.90 billion, a P/E ratio of 20.91 and a beta of 0.92.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.65. COPT Defense Properties had a return on equity of 9.07% and a net margin of 18.44%. The business had revenue of $187.86 million for the quarter, compared to the consensus estimate of $186.37 million. During the same quarter in the prior year, the company earned $0.62 EPS. The business's revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were given a dividend of $0.305 per share. The ex-dividend date was Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a yield of 4.74%. This is an increase from COPT Defense Properties's previous quarterly dividend of $0.30. COPT Defense Properties's dividend payout ratio (DPR) is presently 99.19%.

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.