Jennison Associates LLC Takes $1.48 Million Position in COPT Defense Properties (NYSE:CDP)

Jennison Associates LLC bought a new stake in COPT Defense Properties (NYSE:CDP) during the fourth quarter, HoldingsChannel.com reports. The fund bought 47,837 shares of the company’s stock, valued at approximately $1,481,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of COPT Defense Properties by 77.8% in the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after acquiring an additional 614 shares during the period. USA Financial Formulas acquired a new stake in COPT Defense Properties during the 4th quarter valued at $90,000. Wilmington Savings Fund Society FSB acquired a new stake in COPT Defense Properties during the 3rd quarter valued at $91,000. KBC Group NV grew its holdings in COPT Defense Properties by 28.3% during the 3rd 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 grew its holdings in COPT Defense Properties by 100.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 4,000 shares of the company’s stock valued at $121,000 after purchasing an additional 2,000 shares in the last quarter.

COPT Defense Properties Price Performance

Shares of CDP stock opened at $29.68 on Friday. The firm has a market cap of $3.35 billion, a P/E ratio of 24.33 and a beta of 0.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22. The firm has a fifty day moving average of $30.80 and a two-hundred day moving average of $30.48.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. As a group, research analysts anticipate that COPT Defense Properties will post 2.58 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CDP. Evercore ISI raised their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on shares of COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. BTIG Research raised their price target on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Truist Financial raised their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.88.

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.