HighTower Advisors LLC Sells 512 Shares of COPT Defense Properties (NYSE:CDP)

HighTower Advisors LLC lowered its stake in COPT Defense Properties (NYSE:CDP) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,365 shares of the company’s stock after selling 512 shares during the quarter. HighTower Advisors LLC’s holdings in COPT Defense Properties were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in COPT Defense Properties by 32.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 55,516 shares of the company’s stock valued at $1,684,000 after purchasing an additional 13,606 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in COPT Defense Properties during the third quarter worth about $333,000. Citigroup Inc. increased its stake in COPT Defense Properties by 81.1% in the 3rd quarter. Citigroup Inc. now owns 137,075 shares of the company’s stock worth $4,157,000 after acquiring an additional 61,389 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of COPT Defense Properties in the 3rd quarter valued at about $494,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of COPT Defense Properties by 16.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 40,741 shares of the company’s stock valued at $1,236,000 after acquiring an additional 5,677 shares during the last quarter.

COPT Defense Properties Trading Up 0.7 %

Shares of CDP opened at $27.28 on Friday. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 22.18 and a beta of 0.96. The firm has a 50 day moving average price of $27.84 and a 200-day moving average price of $30.08. 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 (NYSE:CDP) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share 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%. As a group, equities research analysts forecast that COPT Defense Properties will post 2.67 earnings per share 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 given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 4.47%. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 31st. COPT Defense Properties’s dividend payout ratio (DPR) is presently 99.19%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CDP. Jefferies Financial Group started 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 on the stock. Truist Financial raised their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and a consensus 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.