Fmr LLC Grows Holdings in COPT Defense Properties (NYSE:CDP)

Fmr LLC boosted its position in shares of COPT Defense Properties (NYSE:CDP) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 2,763,277 shares of the company’s stock after acquiring an additional 49,300 shares during the quarter. Fmr LLC’s holdings in COPT Defense Properties were worth $83,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in CDP. Spirit of America Management Corp NY bought a new position in COPT Defense Properties in the 2nd quarter worth $50,000. Quarry LP lifted its position 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 valued at $87,000 after acquiring an additional 3,052 shares in the last quarter. KBC Group NV boosted its stake in shares of COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after acquiring an additional 840 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of COPT Defense Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in COPT Defense Properties during the 3rd quarter valued at approximately $236,000.

Insider Activity at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the transaction, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. The trade was 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 this hyperlink. 1.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CDP shares. Evercore ISI boosted their target price 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. Truist Financial boosted their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday. Wells Fargo & Company cut their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. 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 research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. increased their price target 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, COPT Defense Properties has a consensus rating of “Moderate Buy” and an average price target of $32.00.

COPT Defense Properties Stock Performance

Shares of CDP stock opened at $32.60 on Friday. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22. The business’s fifty day simple moving average is $31.73 and its 200-day simple moving average is $28.72. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The company has a market cap of $3.67 billion, a PE ratio of 26.72 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.62%. COPT Defense Properties’s payout ratio is currently 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.