Edgestream Partners L.P. Takes Position in COPT Defense Properties (NYSE:CDP)

Edgestream Partners L.P. acquired a new position in shares of COPT Defense Properties (NYSE:CDP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 126,483 shares of the company's stock, valued at approximately $3,915,000. Edgestream Partners L.P. owned about 0.11% of COPT Defense Properties as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of COPT Defense Properties by 77.8% during the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock valued at $43,000 after purchasing an additional 614 shares during the last quarter. USA Financial Formulas bought a new position in shares of COPT Defense Properties during the fourth quarter valued at about $90,000. Wilmington Savings Fund Society FSB purchased a new position in shares of COPT Defense Properties in the third quarter worth about $91,000. KBC Group NV lifted its stake in shares of COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company's stock valued at $116,000 after acquiring an additional 840 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings 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 valued at $155,000 after acquiring an additional 1,000 shares during the period.

Wall Street Analyst Weigh In

CDP has been the subject of several recent research reports. BTIG Research boosted their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Jefferies Financial Group cut their price target on shares of COPT Defense Properties from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Finally, Truist Financial upped their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $32.88.

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COPT Defense Properties Stock Up 0.6 %

Shares of CDP traded up $0.16 during mid-day trading on Wednesday, reaching $26.91. The company had a trading volume of 1,585,558 shares, compared to its average volume of 855,275. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 21.88 and a beta of 0.96. The firm has a 50-day moving average price of $28.62 and a 200 day moving average price of $30.31. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a return on equity of 9.07% and a net margin of 18.44%. On average, sell-side analysts forecast that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.305 per share. This is a boost from COPT Defense Properties's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.53%. 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.