Cibc World Markets Corp Acquires New Stake in COPT Defense Properties (NYSE:CDP)

Cibc World Markets Corp bought a new position in COPT Defense Properties (NYSE:CDP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,536 shares of the company’s stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its holdings in shares of COPT Defense Properties by 13.9% in the fourth quarter. Natixis Advisors LLC now owns 263,350 shares of the company’s stock valued at $8,151,000 after buying an additional 32,219 shares during the period. Swiss National Bank lifted its holdings in COPT Defense Properties by 0.7% in the 4th quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $6,859,000 after acquiring an additional 1,600 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of COPT Defense Properties by 16.0% during the 4th quarter. Moors & Cabot Inc. now owns 11,607 shares of the company’s stock valued at $359,000 after purchasing an additional 1,600 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of COPT Defense Properties by 15.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 47,084 shares of the company’s stock worth $1,457,000 after purchasing an additional 6,343 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of COPT Defense Properties by 56.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,841 shares of the company’s stock worth $2,440,000 after purchasing an additional 28,393 shares in the last quarter.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock opened at $27.21 on Tuesday. The stock has a market cap of $3.07 billion, a PE ratio of 22.12 and a beta of 0.96. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The company has a quick ratio of 2.38, a current ratio of 2.47 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $28.04 and a 200-day simple moving average of $30.15.

COPT Defense Properties (NYSE:CDP) last released its earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a return on equity of 9.07% and a net margin of 18.44%. On average, sell-side analysts anticipate that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be given a $0.305 dividend. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a yield of 4.48%. COPT Defense Properties’s dividend payout ratio is presently 99.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CDP. BTIG Research raised their target price 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. Truist Financial raised 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. Finally, Jefferies Financial Group assumed coverage on COPT Defense Properties in a report on Monday, March 17th. They set a “buy” rating and a $31.00 target price for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.43.

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.