Convergence Investment Partners LLC Buys New Stake in COPT Defense Properties (NYSE:CDP)

Convergence Investment Partners LLC bought a new position in COPT Defense Properties (NYSE:CDP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,450 shares of the company's stock, valued at approximately $850,000.

Several other hedge funds have also recently made changes to their positions in CDP. Blue Trust Inc. raised its holdings in shares of COPT Defense Properties by 53.8% during the third quarter. Blue Trust Inc. now owns 14,021 shares of the company's stock valued at $425,000 after purchasing an additional 4,904 shares during the last quarter. Raymond James & Associates raised its holdings in shares of COPT Defense Properties by 4.3% during the third quarter. Raymond James & Associates now owns 209,766 shares of the company's stock valued at $6,362,000 after purchasing an additional 8,611 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in shares of COPT Defense Properties by 100.0% during the third quarter. Spirit of America Management Corp NY now owns 4,000 shares of the company's stock valued at $121,000 after purchasing an additional 2,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of COPT Defense Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company's stock valued at $134,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new position in shares of COPT Defense Properties during the third quarter valued at approximately $236,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on CDP. Evercore ISI boosted their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. BTIG Research boosted their target price on shares of 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 target price on shares of COPT Defense Properties from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Finally, Truist Financial boosted their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. 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.com, COPT Defense Properties presently has a consensus rating of "Moderate Buy" and an average price target of $32.88.

COPT Defense Properties Stock Performance

NYSE CDP traded up $0.04 during trading hours on Friday, hitting $26.77. 1,224,944 shares of the company's stock traded hands, compared to its average volume of 1,160,070. The business's fifty day moving average price is $29.66 and its two-hundred day moving average price is $30.44. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.02 billion, a P/E ratio of 21.76 and a beta of 0.98. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share 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%. Equities research analysts predict that COPT Defense Properties will post 2.67 EPS 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. Investors of record on Monday, March 31st will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 4.56%. 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. COPT Defense Properties's dividend payout ratio (DPR) is presently 95.93%.

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.