Amalgamated Bank Sells 4,287 Shares of COPT Defense Properties (NYSE:CDP)

Amalgamated Bank lowered its position in COPT Defense Properties (NYSE:CDP) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,335 shares of the company’s stock after selling 4,287 shares during the period. Amalgamated Bank’s holdings in COPT Defense Properties were worth $1,527,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CDP. Spirit of America Management Corp NY bought a new stake in shares of COPT Defense Properties in the second quarter worth $50,000. Quarry LP grew its holdings in shares of COPT Defense Properties by 711.4% in the second quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after acquiring an additional 3,052 shares during the period. Bessemer Group Inc. bought a new stake in shares of COPT Defense Properties in the first quarter worth $100,000. Lazard Asset Management LLC bought a new stake in shares of COPT Defense Properties in the first quarter worth $102,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of COPT Defense Properties by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after acquiring an additional 1,130 shares during the period.

COPT Defense Properties Price Performance

Shares of COPT Defense Properties stock opened at $31.75 on Wednesday. The stock’s 50-day simple moving average is $31.09 and its 200-day simple moving average is $27.87. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 26.22 and a beta of 0.98. The company has a quick ratio of 3.17, a current ratio of 2.38 and a debt-to-equity ratio of 1.56.

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). 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 during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. COPT Defense Properties’s revenue was up 12.3% on a year-over-year basis. As a group, analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDP has been the subject of several recent research reports. Wedbush boosted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. 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. Truist Financial boosted their price target on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Evercore ISI boosted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.86.

Insider Buying and Selling

In other news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $58,820. This 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 through the SEC website. 1.06% of the stock is owned by company insiders.

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.