Geode Capital Management LLC Grows Position in COPT Defense Properties (NYSE:CDP)

Geode Capital Management LLC increased its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,927,208 shares of the company's stock after purchasing an additional 21,388 shares during the quarter. Geode Capital Management LLC owned about 2.60% of COPT Defense Properties worth $88,797,000 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. Spirit of America Management Corp NY bought a new position in COPT Defense Properties in the 2nd quarter worth about $50,000. Quarry LP lifted its holdings in shares of COPT Defense Properties by 711.4% in the second quarter. Quarry LP now owns 3,481 shares of the company's stock worth $87,000 after buying an additional 3,052 shares in the last quarter. KBC Group NV boosted its position in shares of COPT Defense Properties by 28.3% in the third 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 period. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 acquiring an additional 1,130 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in COPT Defense Properties during the third quarter valued at approximately $208,000.

Analyst Ratings Changes

CDP has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Wednesday, September 11th. BTIG Research lifted their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. Truist Financial raised their price target on COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, COPT Defense Properties presently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

COPT Defense Properties Price Performance

Shares of CDP traded up $0.45 during midday trading on Friday, reaching $31.11. The stock had a trading volume of 2,126,009 shares, compared to its average volume of 894,846. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 25.50 and a beta of 0.98. The company's 50-day moving average is $32.01 and its 200 day moving average is $29.32. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The business's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties's payout ratio is presently 96.72%.

About COPT Defense Properties

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.