MQS Management LLC Purchases New Position in COPT Defense Properties (NYSE:CDP)

MQS Management LLC acquired a new position in COPT Defense Properties (NYSE:CDP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,665 shares of the company’s stock, valued at approximately $317,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new position in shares of COPT Defense Properties during the first quarter valued at $39,000. Spirit of America Management Corp NY bought a new position in COPT Defense Properties during the 2nd quarter valued at about $50,000. Bessemer Group Inc. purchased a new stake in shares of COPT Defense Properties during the 1st quarter valued at about $100,000. Lazard Asset Management LLC bought a new stake in shares of COPT Defense Properties in the first quarter worth approximately $102,000. Finally, Allstate Corp purchased a new position in shares of COPT Defense Properties during the first quarter valued at approximately $201,000.

Insider Buying and Selling

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, with a total value of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is currently owned by company insiders.

COPT Defense Properties Price Performance

NYSE CDP opened at $30.00 on Friday. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $30.99. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -27.78, a PEG ratio of 2.86 and a beta of 0.99. The company’s 50 day moving average is $28.80 and its two-hundred day moving average is $25.82.

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

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CDP shares. Wedbush raised their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. 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 research 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 research note on Thursday, August 29th. Finally, Evercore ISI increased their price objective on shares of 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 investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.00.

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.