Victory Capital Management Inc. Trims Holdings in COPT Defense Properties (NYSE:CDP)

Victory Capital Management Inc. reduced its position in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,516,114 shares of the company's stock after selling 564,039 shares during the period. Victory Capital Management Inc. owned approximately 3.12% of COPT Defense Properties worth $108,824,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Metis Global Partners LLC grew its position in COPT Defense Properties by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 12,893 shares of the company's stock worth $399,000 after buying an additional 1,316 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of COPT Defense Properties during the 4th quarter valued at about $335,000. Bank of New York Mellon Corp grew its holdings in shares of COPT Defense Properties by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,141,670 shares of the company's stock worth $35,335,000 after purchasing an additional 9,836 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in shares of COPT Defense Properties during the fourth quarter worth about $850,000. Finally, Principal Financial Group Inc. increased its position in shares of COPT Defense Properties by 61.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company's stock worth $59,001,000 after purchasing an additional 723,486 shares during the last quarter.

Analysts Set New Price Targets

CDP has been the subject of several research analyst reports. Truist Financial lifted 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. BTIG Research lifted their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group reduced their target price on COPT Defense Properties from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.88.

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COPT Defense Properties Trading Up 1.9 %

Shares of COPT Defense Properties stock traded up $0.50 during trading on Friday, reaching $27.17. The company's stock had a trading volume of 981,015 shares, compared to its average volume of 845,957. 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 has a 52-week low of $22.20 and a 52-week high of $34.22. The firm's 50-day moving average is $28.78 and its two-hundred day moving average is $30.33. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 22.09 and a beta of 0.96.

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, beating 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, sell-side analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be paid a $0.305 dividend. This is a boost from COPT Defense Properties's previous quarterly dividend of $0.30. This represents a $1.22 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Monday, March 31st. COPT Defense Properties's payout ratio is 99.19%.

COPT Defense Properties Company 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.