Meeder Asset Management Inc. Purchases Shares of 3,553 COPT Defense Properties (NYSE:CDP)

Meeder Asset Management Inc. acquired a new stake in shares of COPT Defense Properties (NYSE:CDP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,553 shares of the company’s stock, valued at approximately $110,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of COPT Defense Properties by 81.1% during the 3rd quarter. Citigroup Inc. now owns 137,075 shares of the company’s stock worth $4,157,000 after purchasing an additional 61,389 shares during the period. Cerity Partners LLC acquired a new position in COPT Defense Properties during the third quarter valued at approximately $494,000. Bank of Montreal Can grew its stake in COPT Defense Properties by 4.6% during the third quarter. Bank of Montreal Can now owns 67,649 shares of the company’s stock worth $2,069,000 after buying an additional 2,959 shares during the period. FMR LLC increased its position in shares of COPT Defense Properties by 1.8% in the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after acquiring an additional 49,300 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of COPT Defense Properties by 15.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,448 shares of the company’s stock valued at $1,530,000 after acquiring an additional 6,616 shares during the period.

COPT Defense Properties Stock Performance

NYSE:CDP opened at $27.19 on Wednesday. The firm has a 50-day moving average of $27.74 and a two-hundred day moving average of $30.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38. The stock has a market cap of $3.06 billion, a P/E ratio of 22.11 and a beta of 0.96. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, beating 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, research analysts expect 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 declared 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. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, March 31st. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. COPT Defense Properties’s payout ratio is 99.19%.

Wall Street Analyst Weigh In

CDP has been the subject of a number of research reports. Jefferies Financial Group began coverage on shares of COPT Defense Properties in a research report on Monday, March 17th. They set a “buy” rating and a $31.00 price target for the company. Truist Financial increased their target price on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Two equities 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.com, the company has an average rating of “Moderate Buy” and an average price target 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.