COPT Defense Properties (NYSE:CDP) Stake Raised by abrdn plc

abrdn plc boosted its holdings in shares of COPT Defense Properties (NYSE:CDP) by 72.9% in the fourth quarter, HoldingsChannel reports. The fund owned 38,891 shares of the company’s stock after buying an additional 16,399 shares during the quarter. abrdn plc’s holdings in COPT Defense Properties were worth $1,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of COPT Defense Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after purchasing an additional 21,388 shares during the period. FMR LLC boosted its stake in shares of 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 buying an additional 49,300 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of COPT Defense Properties by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock valued at $81,689,000 after buying an additional 710,491 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of COPT Defense Properties by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock worth $76,521,000 after acquiring an additional 18,770 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of COPT Defense Properties by 2.0% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 886,136 shares of the company’s stock worth $26,876,000 after acquiring an additional 17,306 shares in the last quarter.

COPT Defense Properties Trading Down 2.3 %

Shares of CDP stock opened at $28.83 on Tuesday. The business’s 50 day moving average is $30.67 and its two-hundred day moving average is $30.54. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The company has a market cap of $3.25 billion, a PE ratio of 23.43 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its earnings results 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 net margin of 18.44% and a return on equity of 9.08%. Equities analysts predict that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 4.09%. COPT Defense Properties’s payout ratio is 95.93%.

Wall Street Analysts Forecast Growth

CDP has been the topic of a number of recent research reports. Truist Financial boosted 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. Evercore ISI boosted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, BTIG Research lifted their target price on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, COPT Defense Properties currently has an average rating of “Moderate Buy” and a consensus price target of $32.88.

COPT Defense Properties 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.