Proficio Capital Partners LLC Makes New Investment in COPT Defense Properties (NYSE:CDP)

Proficio Capital Partners LLC purchased a new stake in COPT Defense Properties (NYSE:CDP) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,833 shares of the company’s stock, valued at approximately $335,000.

Other institutional investors have also made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC grew its holdings in COPT Defense Properties by 192.9% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company’s stock valued at $35,847,000 after buying an additional 762,840 shares during the last quarter. M&T Bank Corp grew its position in COPT Defense Properties by 3.1% in the 4th quarter. M&T Bank Corp now owns 21,889 shares of the company’s stock worth $677,000 after purchasing an additional 663 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of COPT Defense Properties by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 12,893 shares of the company’s stock worth $399,000 after purchasing an additional 1,316 shares during the period. Bank of New York Mellon Corp raised its position 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 buying an additional 9,836 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in shares of COPT Defense Properties during the fourth quarter valued at about $850,000.

COPT Defense Properties Stock Down 0.5 %

NYSE CDP opened at $27.07 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The stock has a market capitalization of $3.05 billion, a P/E ratio of 22.01 and a beta of 0.96. The stock has a fifty day moving average of $27.99 and a 200-day moving average of $30.13.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping 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%. On average, equities research analysts forecast that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a dividend of $0.305 per share. The ex-dividend date 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 dividend yield of 4.51%. COPT Defense Properties’s payout ratio is 99.19%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDP. BTIG Research upped their target price on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Jefferies Financial Group initiated coverage on shares of COPT Defense Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $31.00 target price for the company. Finally, Truist Financial increased their price target on COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.43.

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.