M&T Bank Corp Raises Position in COPT Defense Properties (NYSE:CDP)

M&T Bank Corp boosted its holdings in COPT Defense Properties (NYSE:CDP) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,226 shares of the company’s stock after purchasing an additional 701 shares during the period. M&T Bank Corp’s holdings in COPT Defense Properties were worth $644,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in shares of COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after acquiring an additional 1,293,761 shares during the last quarter. FMR LLC lifted its position in COPT Defense Properties by 1.8% in the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock valued at $83,810,000 after purchasing an additional 49,300 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of COPT Defense Properties by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock valued at $76,521,000 after purchasing an additional 18,770 shares during the period. Sei Investments Co. grew its holdings in shares of COPT Defense Properties by 9.6% in the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $49,648,000 after purchasing an additional 174,206 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of COPT Defense Properties by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,630,799 shares of the company’s stock worth $40,818,000 after purchasing an additional 69,656 shares during the last quarter.

COPT Defense Properties Price Performance

Shares of CDP stock opened at $32.38 on Tuesday. The business’s fifty day moving average is $31.98 and its 200 day moving average is $29.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 26.54 and a beta of 0.98. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. Research analysts expect that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.64%. COPT Defense Properties’s payout ratio is 96.72%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CDP shares. Wells Fargo & Company dropped their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Evercore ISI upped their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BTIG Research lifted their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Truist Financial boosted 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and an average target price of $32.00.

COPT Defense Properties Company Profile

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.