Corient Private Wealth LLC Sells 739 Shares of COPT Defense Properties (NYSE:CDP)

Corient Private Wealth LLC lessened its holdings in shares of COPT Defense Properties (NYSE:CDP) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 17,792 shares of the company’s stock after selling 739 shares during the period. Corient Private Wealth LLC’s holdings in COPT Defense Properties were worth $551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CDP. Thrivent Financial for Lutherans boosted its position in shares of COPT Defense Properties by 32.5% during the third quarter. Thrivent Financial for Lutherans now owns 55,516 shares of the company’s stock worth $1,684,000 after acquiring an additional 13,606 shares during the last quarter. FMR LLC increased 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 last quarter. Nordea Investment Management AB lifted 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. KBC Group NV boosted its holdings in shares of COPT Defense Properties by 33.4% during the 4th quarter. KBC Group NV now owns 5,081 shares of the company’s stock valued at $157,000 after purchasing an additional 1,271 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of COPT Defense Properties by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock valued at $81,689,000 after purchasing an additional 710,491 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CDP shares. Jefferies Financial Group initiated coverage on COPT Defense Properties in a research note on Monday, March 17th. They set a “buy” rating and a $31.00 price target for the company. 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 report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and an average price target of $33.43.

COPT Defense Properties Stock Performance

NYSE CDP opened at $27.28 on Friday. The business’s 50 day moving average price is $27.84 and its 200-day moving average price is $30.08. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The company has a market cap of $3.07 billion, a P/E ratio of 22.18 and a beta of 0.96. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.33. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. Sell-side analysts predict that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be given a $0.305 dividend. This is a positive change 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 4.47%. The ex-dividend date of this dividend is Monday, March 31st. COPT Defense Properties’s dividend payout ratio is 99.19%.

About COPT Defense Properties

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.