Arrowstreet Capital Limited Partnership Reduces Stock Position in COPT Defense Properties (NYSE:CDP)

Arrowstreet Capital Limited Partnership decreased its position in shares of COPT Defense Properties (NYSE:CDP) by 38.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,795 shares of the company’s stock after selling 350,937 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in COPT Defense Properties were worth $17,419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CDP. Norges Bank purchased a new stake in COPT Defense Properties during the fourth quarter worth $45,718,000. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of 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 buying an additional 762,840 shares in the last quarter. Principal Financial Group Inc. grew its stake in COPT Defense Properties by 61.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company’s stock valued at $59,001,000 after acquiring an additional 723,486 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in COPT Defense Properties by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock valued at $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 position 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 worth $24,043,000 after acquiring an additional 635,705 shares during the last quarter.

Analyst Ratings Changes

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

COPT Defense Properties Price Performance

COPT Defense Properties stock opened at $26.13 on Friday. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22. The stock has a market capitalization of $2.94 billion, a P/E ratio of 21.24 and a beta of 0.92. The firm’s 50-day moving average is $27.56 and its two-hundred day moving average is $29.98. 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 (NYSE:CDP) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The firm also recently announced 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 is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a yield of 4.67%. The ex-dividend date is Monday, March 31st. COPT Defense Properties’s dividend payout ratio is presently 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.