Hillsdale Investment Management Inc. Reduces Stock Holdings in COPT Defense Properties (NYSE:CDP)

Hillsdale Investment Management Inc. lowered its stake in COPT Defense Properties (NYSE:CDP) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 128,100 shares of the company’s stock after selling 1,700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in COPT Defense Properties were worth $3,965,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in COPT Defense Properties by 1.2% in the fourth quarter. Sei Investments Co. now owns 2,139,455 shares of the company’s stock worth $66,216,000 after buying an additional 24,577 shares in the last quarter. American Century Companies Inc. raised its position in shares of COPT Defense Properties by 8.1% in the 4th quarter. American Century Companies Inc. now owns 21,328 shares of the company’s stock worth $660,000 after acquiring an additional 1,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of COPT Defense Properties by 38.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,246 shares of the company’s stock valued at $1,896,000 after purchasing an additional 16,920 shares during the period. Teacher Retirement System of Texas boosted its position in shares of COPT Defense Properties by 80.6% during the fourth quarter. Teacher Retirement System of Texas now owns 59,380 shares of the company’s stock valued at $1,838,000 after purchasing an additional 26,505 shares in the last quarter. Finally, Xponance Inc. grew its stake in COPT Defense Properties by 5.9% in the fourth quarter. Xponance Inc. now owns 16,157 shares of the company’s stock worth $500,000 after purchasing an additional 905 shares during the period.

COPT Defense Properties Stock Performance

NYSE:CDP opened at $26.78 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. The firm has a market capitalization of $3.02 billion, a PE ratio of 21.78 and a beta of 0.96. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The stock’s fifty day moving average is $28.09 and its 200 day moving average is $30.16.

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 18.44% and a return on equity of 9.07%. On average, sell-side analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a $0.305 dividend. 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 yield of 4.55%. COPT Defense Properties’s dividend payout ratio (DPR) is 99.19%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CDP shares. Jefferies Financial Group began coverage on COPT Defense Properties in a research report on Monday, March 17th. They set a “buy” rating and a $31.00 price objective for the company. Truist Financial boosted their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, BTIG Research increased their target price on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. 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 data from MarketBeat, COPT Defense Properties has an average rating of “Moderate Buy” and an average target price of $33.43.

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.