Arkadios Wealth Advisors Takes Position in COPT Defense Properties (NYSE:CDP)

Arkadios Wealth Advisors purchased a new position in shares of COPT Defense Properties (NYSE:CDP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,769 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds have also recently added to or reduced their stakes in CDP. Heritage Wealth Advisors purchased a new position in COPT Defense Properties during the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY purchased a new position in COPT Defense Properties during the 2nd quarter worth approximately $50,000. Quarry LP grew its stake in COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after buying an additional 3,052 shares during the last quarter. Bessemer Group Inc. purchased a new position in COPT Defense Properties during the 1st quarter worth approximately $100,000. Finally, Lazard Asset Management LLC purchased a new position in COPT Defense Properties during the 1st quarter worth approximately $102,000.

Insider Buying and Selling

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on CDP shares. Evercore ISI lifted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial lifted 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. Wells Fargo & Company lowered their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Finally, Wedbush lifted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.38.

COPT Defense Properties Stock Down 1.5 %

CDP opened at $32.20 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The business has a 50 day simple moving average of $30.69 and a 200-day simple moving average of $27.33. The stock has a market capitalization of $3.63 billion, a P/E ratio of 26.39 and a beta of 0.99. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $33.05.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). The business had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a dividend of $0.295 per share. The ex-dividend date was Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 3.66%. COPT Defense Properties’s dividend payout ratio is presently 96.72%.

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.