JPMorgan Chase & Co. Increases Position in COPT Defense Properties (NYSE:CDP)

JPMorgan Chase & Co. raised its position in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 35.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,693,332 shares of the company's stock after acquiring an additional 710,491 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.39% of COPT Defense Properties worth $81,689,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company's stock worth $81,948,000 after acquiring an additional 1,293,761 shares during the last quarter. Geode Capital Management LLC grew its position in COPT Defense Properties by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company's stock valued at $88,797,000 after purchasing an additional 21,388 shares during the last quarter. FMR LLC increased its stake in COPT Defense Properties by 1.8% during the 3rd quarter. FMR LLC now owns 2,763,277 shares of the company's stock valued at $83,810,000 after purchasing an additional 49,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in COPT Defense Properties by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company's stock valued at $76,521,000 after purchasing an additional 18,770 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in COPT Defense Properties by 9.6% in the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company's stock worth $49,648,000 after buying an additional 174,206 shares during the last quarter.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock traded up $0.10 during trading hours on Friday, reaching $30.98. 523,970 shares of the stock traded hands, compared to its average volume of 496,735. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 25.39 and a beta of 0.98. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average price of $31.83 and a 200 day moving average price of $29.74.

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

COPT Defense Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.81%. COPT Defense Properties's dividend payout ratio (DPR) is 96.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDP. 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. Truist Financial increased their target price on COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their price target on COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a research note on Wednesday, September 11th. BTIG Research increased 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. Finally, Evercore ISI lifted their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.88.

COPT Defense Properties Company Profile

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.