New York State Teachers Retirement System increased its position in COPT Defense Properties (NYSE:CDP - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,164 shares of the company's stock after purchasing an additional 10,769 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of COPT Defense Properties worth $4,648,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in COPT Defense Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company's stock valued at $88,797,000 after acquiring an additional 21,388 shares during the period. FMR LLC raised its holdings in COPT Defense Properties by 1.8% in the 3rd quarter. FMR LLC now owns 2,763,277 shares of the company's stock valued at $83,810,000 after acquiring an additional 49,300 shares during the period. JPMorgan Chase & Co. raised its holdings in COPT Defense Properties by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company's stock valued at $81,689,000 after acquiring an additional 710,491 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in COPT Defense Properties by 0.7% in 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 acquiring an additional 18,770 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in COPT Defense Properties by 2.0% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 886,136 shares of the company's stock valued at $26,876,000 after acquiring an additional 17,306 shares during the period.
COPT Defense Properties Stock Performance
Shares of CDP traded up $0.04 during mid-day trading on Friday, hitting $26.77. 1,224,944 shares of the company's stock were exchanged, compared to its average volume of 1,001,575. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The stock's 50-day simple moving average is $29.77 and its 200-day simple moving average is $30.45. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 21.76 and a beta of 0.98. The company has a quick ratio of 2.38, a current ratio of 2.47 and a debt-to-equity ratio of 1.56.
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 (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. On average, equities research analysts expect that COPT Defense Properties will post 2.67 EPS 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. Investors of record on Monday, March 31st will be given a dividend of $0.305 per share. This is a positive change from COPT Defense Properties's previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 31st. This represents a $1.22 annualized dividend and a dividend yield of 4.56%. COPT Defense Properties's dividend payout ratio (DPR) is currently 95.93%.
Analysts Set New Price Targets
Several research analysts have weighed in on CDP shares. Jefferies Financial Group lowered 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, January 2nd. Evercore ISI increased their price target 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 increased their price target on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Finally, Truist Financial increased their price target 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.88.
Get Our Latest Stock Analysis on CDP
About COPT Defense Properties
(
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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