Alliancebernstein L.P. Grows Stock Position in COPT Defense Properties (NYSE:CDP)

Alliancebernstein L.P. increased its holdings in COPT Defense Properties (NYSE:CDP) by 813.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,247,854 shares of the company’s stock after buying an additional 5,563,548 shares during the quarter. Alliancebernstein L.P. owned 5.54% of COPT Defense Properties worth $193,371,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in COPT Defense Properties in the fourth quarter worth approximately $45,718,000. Cbre Investment Management Listed Real Assets LLC raised its holdings in 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. lifted its position in COPT Defense Properties by 61.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company’s stock valued at $59,001,000 after purchasing an additional 723,486 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in COPT Defense Properties by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock valued at $81,689,000 after purchasing an additional 710,491 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in COPT Defense Properties by 404.8% during the third 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 purchasing an additional 635,705 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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 price objective on the stock. Truist Financial lifted their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.43.

COPT Defense Properties Trading Down 0.3 %

CDP stock opened at $27.19 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22. The business has a 50 day simple moving average of $27.74 and a two-hundred day simple moving average of $30.05. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 22.11 and a beta of 0.96.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 anticipate that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 4.49%. This is a boost from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, March 31st. COPT Defense Properties’s payout ratio is 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.