Algert Global LLC Has $9.32 Million Holdings in COPT Defense Properties (NYSE:CDP)

Algert Global LLC raised its position in COPT Defense Properties (NYSE:CDP) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 372,170 shares of the company’s stock after purchasing an additional 62,998 shares during the quarter. Algert Global LLC owned 0.33% of COPT Defense Properties worth $9,315,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in COPT Defense Properties in the 1st quarter valued at approximately $407,496,000. Earnest Partners LLC bought a new position in shares of COPT Defense Properties during the 1st quarter worth approximately $129,344,000. Westwood Holdings Group Inc. acquired a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $90,045,000. Millennium Management LLC lifted its position in shares of COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after purchasing an additional 1,293,761 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in COPT Defense Properties by 9.6% during 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on CDP shares. Truist Financial boosted their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company dropped their target price 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. Wedbush increased their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI upped their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Insider Buying and Selling at COPT Defense Properties

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

COPT Defense Properties Price Performance

NYSE:CDP opened at $30.58 on Friday. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $30.99. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -28.31, a P/E/G ratio of 2.64 and a beta of 0.99. The stock’s 50 day moving average price is $29.16 and its two-hundred day moving average price is $26.04. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. During the same period in the prior year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a yield of 3.86%. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

COPT Defense Properties 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.