Nordea Investment Management AB Increases Stake in COPT Defense Properties (NYSE:CDP)

Nordea Investment Management AB increased its holdings in COPT Defense Properties (NYSE:CDP) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 376,938 shares of the company’s stock after acquiring an additional 18,278 shares during the quarter. Nordea Investment Management AB’s holdings in COPT Defense Properties were worth $11,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDP. Millennium Management LLC lifted its position in shares of COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after purchasing an additional 1,293,761 shares during the period. Geode Capital Management LLC raised its stake in COPT Defense Properties by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after buying an additional 21,388 shares in the last quarter. FMR LLC lifted its holdings in COPT Defense Properties by 1.8% during the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after buying an additional 49,300 shares during the period. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 710,491 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDP. Truist Financial upped their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Jefferies Financial Group decreased their price target on shares of COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. BTIG Research boosted their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI raised their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.88.

COPT Defense Properties Stock Down 0.1 %

CDP stock opened at $29.72 on Thursday. The stock has a market capitalization of $3.35 billion, a PE ratio of 24.36 and a beta of 0.99. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The firm has a 50 day moving average of $31.64 and a 200 day moving average of $29.94.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts forecast that COPT Defense Properties will post 2.58 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s payout ratio is 96.72%.

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.