COPT Defense Properties (NYSE:CDP) Stock Holdings Lessened by Millennium Management LLC

Millennium Management LLC cut its stake in shares of COPT Defense Properties (NYSE:CDP) by 60.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,027,390 shares of the company’s stock after selling 1,591,850 shares during the period. Millennium Management LLC owned about 0.91% of COPT Defense Properties worth $31,798,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its holdings in shares of COPT Defense Properties by 813.0% during 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. Norges Bank acquired a new stake in COPT Defense Properties during the fourth quarter valued at $45,718,000. Cbre Investment Management Listed Real Assets LLC grew its stake in COPT Defense Properties by 192.9% in the fourth 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. Principal Financial Group Inc. increased its position 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 worth $59,001,000 after purchasing an additional 723,486 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of COPT Defense Properties by 21.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,283,383 shares of the company’s stock worth $101,621,000 after purchasing an additional 590,051 shares in the last quarter.

COPT Defense Properties Price Performance

Shares of NYSE:CDP opened at $27.45 on Monday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 22.32 and a beta of 0.86. The business has a 50-day moving average of $26.49 and a two-hundred day moving average of $28.83. COPT Defense Properties has a fifty-two week low of $23.47 and a fifty-two week high of $34.22. 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 issued its quarterly earnings data on Monday, April 28th. The company reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The business 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 9.07% and a net margin of 18.44%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. On average, equities research analysts predict that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were issued a dividend of $0.305 per share. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, March 31st. COPT Defense Properties’s dividend payout ratio is currently 97.60%.

Analyst Ratings Changes

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

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.