COPT Defense Properties (NYSE:CDP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of COPT Defense Properties (NYSE:CDP) by 5.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 182,450 shares of the company’s stock after selling 9,856 shares during the quarter. Corebridge Financial Inc.’s holdings in COPT Defense Properties were worth $5,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CDP. Geode Capital Management LLC boosted its position in COPT Defense Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after acquiring an additional 21,388 shares during the last quarter. FMR LLC boosted its holdings in shares of COPT Defense Properties by 1.8% during the 3rd quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after purchasing an additional 49,300 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of COPT Defense Properties by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock worth $81,689,000 after purchasing an additional 710,491 shares during the last quarter. Sei Investments Co. grew its position in shares of COPT Defense Properties by 1.2% in the fourth quarter. Sei Investments Co. now owns 2,139,455 shares of the company’s stock valued at $66,216,000 after purchasing an additional 24,577 shares in the last quarter. Finally, Principal Financial Group Inc. increased 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 valued at $59,001,000 after purchasing an additional 723,486 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group assumed coverage on COPT Defense Properties in a report on Monday, March 17th. They issued a “buy” rating and a $31.00 target price for the company. Truist Financial upped their price objective 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.43.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock opened at $27.28 on Friday. The business’s fifty day simple moving average is $27.84 and its 200-day simple moving average is $30.08. 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 cap of $3.07 billion, a PE ratio of 22.18 and a beta of 0.96. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22.

COPT Defense Properties (NYSE:CDP) last posted its 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 net margin of 18.44% and a return on equity of 9.07%. Equities analysts forecast that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be given a $0.305 dividend. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a yield of 4.47%. COPT Defense Properties’s payout ratio is presently 99.19%.

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.