KLP Kapitalforvaltning AS Takes $702,000 Position in COPT Defense Properties (NYSE:CDP)

KLP Kapitalforvaltning AS acquired a new position in shares of COPT Defense Properties (NYSE:CDP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,500 shares of the company’s stock, valued at approximately $702,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDP. Citigroup Inc. boosted its holdings in COPT Defense Properties by 81.1% during the third quarter. Citigroup Inc. now owns 137,075 shares of the company’s stock valued at $4,157,000 after acquiring an additional 61,389 shares during the period. Cerity Partners LLC acquired a new stake in COPT Defense Properties in the 3rd quarter valued at approximately $494,000. Bank of Montreal Can grew its holdings in COPT Defense Properties by 4.6% in the 3rd quarter. Bank of Montreal Can now owns 67,649 shares of the company’s stock valued at $2,069,000 after buying an additional 2,959 shares during the last quarter. FMR LLC increased its position in COPT Defense Properties by 1.8% in the 3rd 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of COPT Defense Properties by 15.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,448 shares of the company’s stock worth $1,530,000 after buying an additional 6,616 shares during the last quarter.

COPT Defense Properties Trading Down 0.3 %

Shares of COPT Defense Properties stock opened at $27.19 on Wednesday. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The firm has a market capitalization of $3.06 billion, a PE ratio of 22.11 and a beta of 0.96. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38. The company’s fifty day moving average price is $27.74 and its two-hundred day moving average price is $30.05.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (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 9.07%. On average, analysts expect that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a $0.305 dividend. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 31st. This represents a $1.22 annualized dividend and a yield of 4.49%. COPT Defense Properties’s payout ratio is currently 99.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CDP. Truist Financial raised their price objective on shares of 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 began coverage on shares of COPT Defense Properties in a report on Monday, March 17th. They set a “buy” rating and a $31.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, COPT Defense Properties presently has an average rating of “Moderate Buy” and an average target price of $33.43.

COPT Defense Properties Company 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.