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

Corebridge Financial Inc. lessened its holdings in COPT Defense Properties (NYSE:CDP) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,450 shares of the company’s stock after selling 9,856 shares during the quarter. Corebridge Financial Inc. owned about 0.16% of COPT Defense Properties worth $5,647,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of COPT Defense Properties by 77.8% in the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after acquiring an additional 614 shares during the last quarter. USA Financial Formulas purchased a new stake in COPT Defense Properties in the fourth quarter valued at $90,000. Wilmington Savings Fund Society FSB acquired a new stake in COPT Defense Properties during the 3rd quarter worth about $91,000. Spirit of America Management Corp NY grew its position in COPT Defense Properties by 25.0% during the 4th quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company’s stock worth $155,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV raised its stake in shares of COPT Defense Properties by 33.4% during the 4th quarter. KBC Group NV now owns 5,081 shares of the company’s stock valued at $157,000 after buying an additional 1,271 shares during the last quarter.

COPT Defense Properties Stock Up 0.7 %

Shares of CDP opened at $27.28 on Friday. The firm has a market cap of $3.07 billion, a P/E ratio of 22.18 and a beta of 0.96. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The stock’s 50 day moving average is $27.84 and its two-hundred day moving average is $30.08. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (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%. Analysts predict that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Monday, March 31st. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.30. COPT Defense Properties’s dividend payout ratio is 99.19%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CDP. Jefferies Financial Group began coverage on COPT Defense Properties in a report on Monday, March 17th. They set a “buy” rating and a $31.00 target price on the stock. Truist Financial raised their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.43.

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.