COPT Defense Properties (NYSE:CDP) Shares Sold by Quarry LP

Quarry LP lowered its stake in COPT Defense Properties (NYSE:CDP) by 52.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,660 shares of the company’s stock after selling 1,821 shares during the period. Quarry LP’s holdings in COPT Defense Properties were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spirit of America Management Corp NY acquired a new stake in COPT Defense Properties in the second quarter valued at approximately $50,000. KBC Group NV raised its holdings in shares of COPT Defense Properties by 28.3% in 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. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of COPT Defense Properties by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after purchasing an additional 1,130 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of COPT Defense Properties during the third quarter worth $208,000. Finally, Blue Trust Inc. increased its holdings in COPT Defense Properties by 37.4% in the second quarter. Blue Trust Inc. now owns 9,117 shares of the company’s stock valued at $220,000 after buying an additional 2,483 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

COPT Defense Properties Price Performance

Shares of NYSE:CDP opened at $32.49 on Wednesday. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a 50-day simple moving average of $31.83 and a 200-day simple moving average of $28.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 27.30 and a beta of 0.98.

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

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is currently 96.72%.

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.