COPT Defense Properties (NYSE:CDP) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its position in COPT Defense Properties (NYSE:CDP) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 679,088 shares of the company’s stock after selling 6,489 shares during the period. Clearbridge Investments LLC owned about 0.60% of COPT Defense Properties worth $21,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in COPT Defense Properties in the 4th quarter valued at $45,718,000. Cbre Investment Management Listed Real Assets LLC increased its stake in COPT Defense Properties by 192.9% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company’s stock worth $35,847,000 after acquiring an additional 762,840 shares during the last quarter. Principal Financial Group Inc. increased its position in COPT Defense Properties by 61.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company’s stock worth $59,001,000 after purchasing an additional 723,486 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 acquiring an additional 710,491 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of COPT Defense Properties by 404.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 792,728 shares of the company’s stock valued at $24,043,000 after acquiring an additional 635,705 shares during the period.

COPT Defense Properties Stock Performance

NYSE:CDP opened at $27.19 on Wednesday. The firm has a 50-day moving average of $27.74 and a two-hundred day moving average of $30.05. 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 stock has a market cap of $3.06 billion, a P/E ratio of 22.11 and a beta of 0.96. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.33. COPT Defense Properties had a return on equity of 9.07% and a net margin of 18.44%. On average, research analysts expect that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, March 31st. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. COPT Defense Properties’s payout ratio is 99.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CDP. Truist Financial increased their price target on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Jefferies Financial Group started coverage on COPT Defense Properties in a research note 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.