Quarry LP Boosts Holdings in COPT Defense Properties (NYSE:CDP)

Quarry LP increased its position in COPT Defense Properties (NYSE:CDP) by 711.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,481 shares of the company’s stock after purchasing an additional 3,052 shares during the quarter. Quarry LP’s holdings in COPT Defense Properties were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in COPT Defense Properties in the 1st quarter valued at about $407,496,000. Earnest Partners LLC acquired a new position in shares of COPT Defense Properties in the first quarter worth about $129,344,000. Westwood Holdings Group Inc. purchased a new position in COPT Defense Properties in the first quarter valued at about $90,045,000. Millennium Management LLC increased its holdings in COPT Defense Properties by 65.3% during the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after purchasing an additional 1,293,761 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of COPT Defense Properties by 9.6% in the 2nd quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock valued at $49,648,000 after purchasing an additional 174,206 shares in the last quarter.

COPT Defense Properties Price Performance

Shares of NYSE:CDP opened at $30.96 on Thursday. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. The firm has a 50-day simple moving average of $29.37 and a 200 day simple moving average of $26.17. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $30.99. The company has a market cap of $3.49 billion, a PE ratio of -28.67, a P/E/G ratio of 2.66 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last posted its earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). The company 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% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. On average, sell-side analysts anticipate that COPT Defense Properties will post 2.56 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.81%. The ex-dividend date is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial boosted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wedbush upped their price objective 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. Finally, Wells Fargo & Company decreased their target price 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, COPT Defense Properties presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Buying and Selling at COPT Defense Properties

In other news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price 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 $58,820. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.06% of the stock is currently owned by company insiders.

COPT Defense Properties Company 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.