Mirae Asset Global Investments Co. Ltd. Purchases 1,130 Shares of COPT Defense Properties (NYSE:CDP)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of COPT Defense Properties (NYSE:CDP) by 34.9% in the 3rd quarter, Holdings Channel reports. The fund owned 4,372 shares of the company’s stock after buying an additional 1,130 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in COPT Defense Properties were worth $134,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new position in COPT Defense Properties during the first quarter worth about $39,000. Spirit of America Management Corp NY purchased a new stake in shares of COPT Defense Properties during the 2nd quarter valued at approximately $50,000. Quarry LP boosted its holdings in COPT Defense Properties by 711.4% in 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 period. Bessemer Group Inc. bought a new position in COPT Defense Properties in the 1st quarter worth approximately $100,000. Finally, Lazard Asset Management LLC bought a new stake in COPT Defense Properties during the 1st quarter valued at $102,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDP. Wedbush raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Truist Financial raised their target price on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price target 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 lowered their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Finally, Evercore ISI boosted their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, COPT Defense Properties has an average rating of “Moderate Buy” and an average price target of $30.86.

COPT Defense Properties Price Performance

Shares of NYSE CDP opened at $32.47 on Tuesday. The firm has a market capitalization of $3.66 billion, a P/E ratio of 26.61 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. The stock’s 50-day simple moving average is $30.81 and its two-hundred day simple moving average is $27.53. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $33.05.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $189.23 million during the quarter, compared to analysts’ expectations of $167.37 million. During the same period in the prior year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

Insider Activity at COPT Defense Properties

In other news, COO Britt A. Snider purchased 1,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is owned by insiders.

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.