Intech Investment Management LLC Boosts Holdings in COPT Defense Properties (NYSE:CDP)

Intech Investment Management LLC raised its stake in COPT Defense Properties (NYSE:CDP) by 82.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,874 shares of the company’s stock after purchasing an additional 17,553 shares during the period. Intech Investment Management LLC’s holdings in COPT Defense Properties were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in COPT Defense Properties by 72.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 876,366 shares of the company’s stock worth $26,580,000 after buying an additional 367,969 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in COPT Defense Properties in the 3rd quarter valued at $333,000. Thrivent Financial for Lutherans boosted its stake in COPT Defense Properties by 32.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 55,516 shares of the company’s stock worth $1,684,000 after purchasing an additional 13,606 shares during the period. Natixis Advisors LLC grew its position in COPT Defense Properties by 13.7% during the 3rd quarter. Natixis Advisors LLC now owns 231,131 shares of the company’s stock worth $7,010,000 after purchasing an additional 27,812 shares during the last quarter. Finally, Metis Global Partners LLC increased its stake in COPT Defense Properties by 31.4% in the third quarter. Metis Global Partners LLC now owns 11,577 shares of the company’s stock valued at $351,000 after purchasing an additional 2,764 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CDP. Wells Fargo & Company lowered their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. 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 report on Thursday, August 29th. Evercore ISI increased their price target on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.86.

COPT Defense Properties Price Performance

COPT Defense Properties stock opened at $32.70 on Wednesday. The company has a market cap of $3.68 billion, a P/E ratio of 26.80 and a beta of 0.98. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The business has a fifty day moving average of $31.43 and a two-hundred day moving average of $28.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). The company had revenue of $189.23 million during the quarter, compared to analyst estimates 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 for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. As a group, analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is 96.72%.

Insider Buying and Selling

In other news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the transaction, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.06% of the company’s stock.

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.