Norges Bank Purchases Shares of 1,477,169 COPT Defense Properties (NYSE:CDP)

Norges Bank purchased a new stake in COPT Defense Properties (NYSE:CDP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,477,169 shares of the company's stock, valued at approximately $45,718,000. Norges Bank owned approximately 1.31% of COPT Defense Properties as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings 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 during the period. Geode Capital Management LLC grew 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 buying an additional 21,388 shares in the last quarter. FMR LLC increased its stake in 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 acquiring an additional 49,300 shares during the period. Sei Investments Co. increased its stake in COPT Defense Properties by 1.2% during the 4th quarter. Sei Investments Co. now owns 2,139,455 shares of the company's stock worth $66,216,000 after acquiring an additional 24,577 shares during the period. Finally, Principal Financial Group Inc. raised its holdings 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 in the last quarter.

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Analyst Ratings Changes

Separately, Jefferies Financial Group started coverage on 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.43.

COPT Defense Properties Price Performance

Shares of CDP stock traded up $0.98 during trading hours on Wednesday, reaching $25.69. The company's stock had a trading volume of 1,248,374 shares, compared to its average volume of 922,948. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The firm's 50 day simple moving average is $27.13 and its 200-day simple moving average is $29.80. 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 company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 20.89 and a beta of 0.92.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its 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 return on equity of 9.07% and a net margin of 18.44%. Sell-side analysts forecast that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Monday, March 31st. This is a boost from COPT Defense Properties's previous quarterly dividend of $0.30. 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.