Bank of America Corp DE Has $84.34 Million Stock Holdings in COPT Defense Properties (NYSE:CDP)

Bank of America Corp DE lowered its position in COPT Defense Properties (NYSE:CDP) by 9.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,724,947 shares of the company’s stock after selling 286,370 shares during the period. Bank of America Corp DE owned 2.42% of COPT Defense Properties worth $84,337,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of COPT Defense Properties by 813.0% in the 4th 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 in the last quarter. Earnest Partners LLC increased its stake in shares of COPT Defense Properties by 1.9% in the 4th quarter. Earnest Partners LLC now owns 4,795,639 shares of the company’s stock valued at $148,425,000 after acquiring an additional 89,571 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of COPT Defense Properties by 21.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,283,383 shares of the company’s stock valued at $101,621,000 after acquiring an additional 590,051 shares in the last quarter. FMR LLC increased its stake in shares of COPT Defense Properties by 12.2% in the 4th quarter. FMR LLC now owns 3,099,052 shares of the company’s stock valued at $95,916,000 after acquiring an additional 335,775 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of COPT Defense Properties by 1.2% in the 4th quarter. Sei Investments Co. now owns 2,139,455 shares of the company’s stock valued at $66,216,000 after acquiring an additional 24,577 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of COPT Defense Properties in a research note on Monday, March 17th. They set a “buy” rating and a $31.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.43.

COPT Defense Properties Price Performance

Shares of NYSE:CDP opened at $26.78 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.47 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.02 billion, a PE ratio of 21.77 and a beta of 0.86. COPT Defense Properties has a twelve month low of $23.47 and a twelve month high of $34.22. The company has a 50-day moving average price of $26.48 and a two-hundred day moving average price of $29.02.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, April 28th. The company reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $187.86 million during the quarter, compared to analyst estimates of $186.37 million. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Equities analysts forecast that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were given a dividend of $0.305 per share. The ex-dividend date was Monday, March 31st. This is a boost from COPT Defense Properties’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a dividend yield of 4.56%. COPT Defense Properties’s dividend payout ratio is currently 97.60%.

COPT Defense Properties 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.