Y Intercept Hong Kong Ltd Takes Position in COPT Defense Properties $CDP

Y Intercept Hong Kong Ltd acquired a new position in COPT Defense Properties (NYSE:CDP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,406 shares of the company’s stock, valued at approximately $1,203,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of COPT Defense Properties by 4.6% in the third quarter. Nordea Investment Management AB now owns 393,117 shares of the company’s stock worth $11,361,000 after acquiring an additional 17,418 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in COPT Defense Properties by 38.8% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,001,514 shares of the company’s stock valued at $29,104,000 after purchasing an additional 279,790 shares during the last quarter. Pacer Advisors Inc. bought a new stake in COPT Defense Properties in the 3rd quarter valued at $887,000. Allworth Financial LP grew its position in COPT Defense Properties by 17,902.1% in the 2nd quarter. Allworth Financial LP now owns 43,565 shares of the company’s stock worth $1,202,000 after purchasing an additional 43,323 shares during the last quarter. Finally, Creative Planning bought a new position in shares of COPT Defense Properties during the 2nd quarter worth about $553,000.

COPT Defense Properties Stock Up 2.0%

NYSE CDP opened at $30.80 on Friday. COPT Defense Properties has a 1-year low of $23.92 and a 1-year high of $31.24. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 23.16 and a beta of 0.86. The stock’s 50 day moving average is $29.45 and its two-hundred day moving average is $28.97. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 1.57.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Thursday, October 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $188.80 million during the quarter, compared to analysts’ expectations of $187.63 million. COPT Defense Properties had a return on equity of 9.71% and a net margin of 19.99%.COPT Defense Properties’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. Equities analysts forecast that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, December 31st. COPT Defense Properties’s dividend payout ratio is currently 91.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CDP. Truist Financial upped their price objective on shares of COPT Defense Properties from $30.00 to $31.00 and gave the company a “hold” rating in a research report on Monday, December 15th. Cantor Fitzgerald set a $33.00 price target on COPT Defense Properties in a report on Monday, January 5th. Wells Fargo & Company raised their price objective on COPT Defense Properties from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Jefferies Financial Group lifted their price objective on COPT Defense Properties from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, New Street Research set a $33.00 target price on COPT Defense Properties in a research note on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

About COPT Defense Properties

COPT Defense Properties (NYSE: CDP) is a real estate investment trust organized to own, lease and manage healthcare and life science facilities serving the United States federal government, with a particular focus on Department of Defense and Veterans Affairs tenants. The company was formed in 2016 through a spin-off from Corporate Office Properties Trust, enabling it to concentrate exclusively on medical office buildings and specialized research facilities situated on or near military and federal research campuses.

The company’s portfolio comprises purpose-built, Class A medical office and outpatient specialty clinics, as well as life science laboratories.