COPT Defense Properties (NYSE:CDP) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of COPT Defense Properties (NYSE:CDP) by 35.8% during the 3rd quarter, Holdings Channel reports. The fund owned 2,693,332 shares of the company’s stock after purchasing an additional 710,491 shares during the period. JPMorgan Chase & Co.’s holdings in COPT Defense Properties were worth $81,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CDP. Quarry LP raised its stake in shares of COPT Defense Properties by 711.4% during the second quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after purchasing an additional 3,052 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of COPT Defense Properties in the 3rd quarter worth approximately $91,000. KBC Group NV boosted its holdings in shares of COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after acquiring an additional 840 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in COPT Defense Properties by 100.0% during the third quarter. Spirit of America Management Corp NY now owns 4,000 shares of the company’s stock worth $121,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in COPT Defense Properties by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after purchasing an additional 1,130 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDP. Jefferies Financial Group lowered their price target on COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday. BTIG Research upped 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. Evercore ISI lifted their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their target price on shares of 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. Finally, Truist Financial lifted their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.88.

COPT Defense Properties Trading Down 0.2 %

NYSE CDP opened at $30.88 on Friday. The firm’s 50 day moving average price is $31.86 and its two-hundred day moving average price is $29.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 25.31 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share 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 analyst estimates of $167.37 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that COPT Defense Properties will post 2.58 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

About COPT Defense Properties

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.