Mutual of America Capital Management LLC Lowers Stock Holdings in COPT Defense Properties (NYSE:CDP)

Mutual of America Capital Management LLC trimmed its stake in COPT Defense Properties (NYSE:CDP) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,408 shares of the company’s stock after selling 1,352 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of COPT Defense Properties worth $1,839,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new position in COPT Defense Properties during the fourth quarter valued at approximately $335,000. Bank of New York Mellon Corp boosted its stake in shares of COPT Defense Properties by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,141,670 shares of the company’s stock valued at $35,335,000 after purchasing an additional 9,836 shares during the period. Convergence Investment Partners LLC purchased a new stake in shares of COPT Defense Properties during the fourth quarter valued at approximately $850,000. Principal Financial Group Inc. lifted its stake in COPT Defense Properties by 61.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company’s stock worth $59,001,000 after acquiring an additional 723,486 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in COPT Defense Properties by 7.7% in the fourth quarter. New York State Teachers Retirement System now owns 150,164 shares of the company’s stock worth $4,648,000 after acquiring an additional 10,769 shares during the period.

COPT Defense Properties Trading Up 1.9 %

COPT Defense Properties stock opened at $27.17 on Friday. The business has a 50-day simple moving average of $28.78 and a two-hundred day simple moving average of $30.33. The company has a market cap of $3.06 billion, a P/E ratio of 22.09 and a beta of 0.96. 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 2.47 and a debt-to-equity ratio of 1.56.

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 return on equity of 9.07% and a net margin of 18.44%. Analysts predict that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be issued a $0.305 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost 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 4.49%. COPT Defense Properties’s payout ratio is currently 99.19%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDP. Truist Financial raised their price target 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 reduced their price target on COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, BTIG Research raised their price target on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, COPT Defense Properties currently has an average rating of “Moderate Buy” and an average target price of $32.88.

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.