Metis Global Partners LLC Grows Holdings in COPT Defense Properties (NYSE:CDP)

Metis Global Partners LLC grew its stake in shares of COPT Defense Properties (NYSE:CDP) by 31.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,577 shares of the company’s stock after buying an additional 2,764 shares during the period. Metis Global Partners LLC’s holdings in COPT Defense Properties were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC increased its stake in COPT Defense Properties by 1.4% in the third quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after acquiring an additional 475 shares during the last quarter. Fifth Third Bancorp increased its position in shares of COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after purchasing an additional 574 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of COPT Defense Properties by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock valued at $789,000 after buying an additional 578 shares in the last quarter. Carmel Capital Partners LLC raised its holdings in shares of COPT Defense Properties by 3.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock valued at $525,000 after buying an additional 584 shares in the last quarter. Finally, Presima Securities ULC lifted its position in COPT Defense Properties by 1.3% in the 3rd quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock worth $1,832,000 after buying an additional 800 shares during the last quarter.

Insider Activity at COPT Defense Properties

In related news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.06% of the stock is currently owned by company insiders.

COPT Defense Properties Price Performance

CDP stock opened at $29.84 on Tuesday. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 24.46 and a beta of 0.98. The firm’s 50-day moving average price is $31.22 and its two-hundred day moving average price is $28.09. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The business had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s payout ratio is 96.72%.

Analysts Set New Price Targets

Several research firms have commented on CDP. JPMorgan Chase & Co. lifted their price target on shares of 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 lifted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company cut 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. Wedbush lifted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial boosted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

About COPT Defense Properties

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.