Westpac Banking Corp Boosts Position in COPT Defense Properties (NYSE:CDP)

Westpac Banking Corp grew its stake in COPT Defense Properties (NYSE:CDP) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,782 shares of the company’s stock after acquiring an additional 7,174 shares during the period. Westpac Banking Corp’s holdings in COPT Defense Properties were worth $860,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of COPT Defense Properties by 77.8% in the fourth quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after purchasing an additional 614 shares during the period. M&T Bank Corp lifted its holdings in shares of COPT Defense Properties by 3.1% in the 4th quarter. M&T Bank Corp now owns 21,889 shares of the company’s stock worth $677,000 after buying an additional 663 shares during the period. Xponance Inc. increased its stake in shares of COPT Defense Properties by 5.9% during the fourth quarter. Xponance Inc. now owns 16,157 shares of the company’s stock valued at $500,000 after buying an additional 905 shares during the period. Spirit of America Management Corp NY raised its holdings in shares of 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 valued at $155,000 after acquiring an additional 1,000 shares in the last quarter. Finally, KBC Group NV grew its holdings in COPT Defense Properties by 33.4% during the 4th quarter. KBC Group NV now owns 5,081 shares of the company’s stock worth $157,000 after acquiring an additional 1,271 shares in the last quarter.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock opened at $26.13 on Friday. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a market capitalization of $2.94 billion, a PE ratio of 21.24 and a beta of 0.92. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. The company has a 50-day simple moving average of $27.56 and a two-hundred day simple moving average of $29.98.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. Research 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 4.67%. 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 dividend payout ratio is currently 99.19%.

Analyst Ratings Changes

Separately, Jefferies Financial Group started coverage on shares of COPT Defense Properties in a 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.