COPT Defense Properties (NYSE:CDP) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of COPT Defense Properties (NYSE:CDP) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,547 shares of the company’s stock after acquiring an additional 821 shares during the period. State of Alaska Department of Revenue owned about 0.06% of COPT Defense Properties worth $1,840,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in 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 purchasing an additional 5,563,548 shares in the last quarter. Norges Bank acquired a new stake in COPT Defense Properties in the 4th quarter valued at about $45,718,000. Cbre Investment Management Listed Real Assets LLC raised its position 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 valued at $35,847,000 after purchasing an additional 762,840 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 590,051 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in COPT Defense Properties in the 4th quarter valued at about $16,063,000.

Insider Buying and Selling

In other COPT Defense Properties news, Director Robert L. Denton sold 4,398 shares of COPT Defense Properties stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.70, for a total value of $117,426.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CDP has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on COPT Defense Properties from $36.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Jefferies Financial Group started coverage on COPT Defense Properties in a research report on Monday, March 17th. They set a “buy” rating and a $31.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and an average price target of $33.14.

COPT Defense Properties Price Performance

Shares of NYSE CDP opened at $28.88 on Tuesday. The stock’s 50-day simple moving average is $27.24 and its 200-day simple moving average is $28.11. The firm has a market capitalization of $3.26 billion, a PE ratio of 23.10 and a beta of 0.88. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.21 and a current ratio of 3.21. COPT Defense Properties has a fifty-two week low of $23.92 and a fifty-two week high of $34.22.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. The firm had revenue of $187.86 million for the quarter, compared to the consensus estimate of $186.37 million. COPT Defense Properties had a return on equity of 9.19% and a net margin of 18.86%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. As a group, equities research analysts forecast that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Monday, June 30th will be paid a dividend of $0.305 per share. The ex-dividend date is Monday, June 30th. This represents a $1.22 dividend on an annualized basis and a yield of 4.22%. COPT Defense Properties’s dividend payout ratio is presently 97.60%.

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.