Bank of New York Mellon Corp Increases Position in COPT Defense Properties (NYSE:CDP)

Bank of New York Mellon Corp raised its position in COPT Defense Properties (NYSE:CDP) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,141,670 shares of the company’s stock after purchasing an additional 9,836 shares during the quarter. Bank of New York Mellon Corp owned 1.01% of COPT Defense Properties worth $35,335,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in COPT Defense Properties by 77.8% in the fourth quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after purchasing an additional 614 shares in the last quarter. USA Financial Formulas acquired a new position in COPT Defense Properties in the fourth quarter valued at approximately $90,000. Wilmington Savings Fund Society FSB acquired a new position in COPT Defense Properties in the third quarter valued at approximately $91,000. KBC Group NV boosted its holdings in COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after purchasing an additional 840 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings in COPT Defense Properties by 25.0% in the fourth quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company’s stock valued at $155,000 after purchasing an additional 1,000 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CDP. Jefferies Financial Group lowered 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. Truist Financial increased their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, BTIG Research increased their price objective 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, COPT Defense Properties currently has an average rating of “Moderate Buy” and an average target price of $32.88.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP opened at $27.17 on Friday. The company has a market cap of $3.06 billion, a P/E ratio of 22.09 and a beta of 0.96. 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 one year low of $22.20 and a one year high of $34.22. The business’s 50-day simple moving average is $28.78 and its 200 day simple moving average is $30.31.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data 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 return on equity of 9.07% and a net margin of 18.44%. On average, sell-side analysts forecast that COPT Defense Properties will post 2.67 earnings per share for the current fiscal 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 given a dividend of $0.305 per share. The ex-dividend date is Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a yield of 4.49%. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. COPT Defense Properties’s payout ratio is currently 99.19%.

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.