Charles Schwab Investment Management Inc. Cuts Stake in COPT Defense Properties (NYSE:CDP)

Charles Schwab Investment Management Inc. reduced its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,323,994 shares of the company's stock after selling 198,961 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.06% of COPT Defense Properties worth $71,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CDP. 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 worth $43,000 after buying an additional 614 shares during the last quarter. USA Financial Formulas purchased a new position in shares of COPT Defense Properties in the 4th quarter worth about $90,000. Wilmington Savings Fund Society FSB purchased a new position in shares of COPT Defense Properties in the 3rd quarter worth about $91,000. KBC Group NV boosted its holdings 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 worth $116,000 after buying an additional 840 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings in shares of COPT Defense Properties by 25.0% in the 4th quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company's stock worth $155,000 after buying an additional 1,000 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BTIG Research boosted their price target on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Truist Financial upped their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, COPT Defense Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.88.

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COPT Defense Properties Price Performance

NYSE CDP opened at $26.79 on Wednesday. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The company has a market cap of $3.02 billion, a PE ratio of 21.78 and a beta of 0.96. 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 firm's 50-day simple moving average is $28.62 and its two-hundred day simple moving average is $30.31.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that COPT Defense Properties will post 2.67 earnings per share 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 $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.55%. This is an increase from COPT Defense Properties's previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 31st. COPT Defense Properties's dividend 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.

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