Central Pacific Bank Trust Division Sells 1,300 Shares of COPT Defense Properties (NYSE:CDP)

Central Pacific Bank Trust Division lessened its stake in shares of COPT Defense Properties (NYSE:CDP) by 17.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,194 shares of the company’s stock after selling 1,300 shares during the quarter. Central Pacific Bank Trust Division’s holdings in COPT Defense Properties were worth $192,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of COPT Defense Properties by 77.8% during the fourth quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after acquiring an additional 614 shares during the period. Quarry LP lifted its holdings in COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after purchasing an additional 3,052 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in COPT Defense Properties in the third quarter valued at about $91,000. KBC Group NV grew its stake in COPT Defense Properties by 28.3% during the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after buying an additional 840 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its holdings in shares of COPT Defense Properties by 100.0% during the third quarter. Spirit of America Management Corp NY now owns 4,000 shares of the company’s stock worth $121,000 after buying an additional 2,000 shares in the last quarter.

Analysts Set New Price Targets

CDP has been the topic of several recent analyst reports. BTIG Research boosted their target price on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Jefferies Financial Group decreased their target price on COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company cut their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.88.

COPT Defense Properties Stock Performance

COPT Defense Properties stock opened at $30.98 on Friday. The company has a market cap of $3.49 billion, a PE ratio of 25.39 and a beta of 0.98. 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 1 year low of $22.20 and a 1 year high of $34.22. The company’s 50-day moving average is $31.81 and its two-hundred day moving average is $29.79.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data 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). The business had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. Equities analysts anticipate that COPT Defense Properties will post 2.58 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s payout ratio is 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.