Jennison Associates LLC bought a new stake in shares of COPT Defense Properties (NYSE:CDP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 47,837 shares of the company's stock, valued at approximately $1,481,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. KBC Group NV grew its stake in shares of COPT Defense Properties by 33.4% in the 4th quarter. KBC Group NV now owns 5,081 shares of the company's stock worth $157,000 after buying an additional 1,271 shares during the last quarter. Blue Trust Inc. grew its stake in shares of COPT Defense Properties by 20.8% in the fourth quarter. Blue Trust Inc. now owns 16,938 shares of the company's stock worth $514,000 after acquiring an additional 2,917 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in shares of COPT Defense Properties during the fourth quarter valued at $203,000. USA Financial Formulas purchased a new position in shares of COPT Defense Properties in the 4th quarter worth about $90,000. Finally, Nordea Investment Management AB boosted its stake in COPT Defense Properties by 5.1% in the 4th quarter. Nordea Investment Management AB now owns 376,938 shares of the company's stock worth $11,666,000 after purchasing an additional 18,278 shares in the last quarter.
Analysts Set New Price Targets
CDP has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their price objective on shares of COPT Defense Properties from $37.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Evercore ISI upped their price objective 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. Finally, BTIG Research lifted their target price on COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.88.
View Our Latest Analysis on COPT Defense Properties
COPT Defense Properties Stock Performance
NYSE:CDP traded down $0.68 during trading hours on Monday, reaching $28.83. The company had a trading volume of 1,081,538 shares, compared to its average volume of 877,017. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 23.43 and a beta of 0.98. 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 firm's 50 day moving average price is $30.67 and its 200-day moving average price is $30.54. 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 data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a return on equity of 9.08% and a net margin of 18.44%. On average, analysts forecast that COPT Defense Properties will post 2.67 EPS for the current year.
COPT Defense Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 31st. COPT Defense Properties's dividend payout ratio (DPR) is presently 95.93%.
COPT Defense Properties Company Profile
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Free Report)
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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