Raymond James & Associates Sells 912 Shares of COPT Defense Properties (NYSE:CDP)

Raymond James & Associates reduced its position in COPT Defense Properties (NYSE:CDP) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 201,155 shares of the company’s stock after selling 912 shares during the period. Raymond James & Associates owned 0.18% of COPT Defense Properties worth $5,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in COPT Defense Properties in the 1st quarter valued at about $36,000. Heritage Wealth Advisors purchased a new position in COPT Defense Properties during the 1st quarter valued at about $39,000. Bessemer Group Inc. purchased a new position in COPT Defense Properties during the 1st quarter valued at about $100,000. Lazard Asset Management LLC purchased a new position in COPT Defense Properties during the 1st quarter valued at about $102,000. Finally, Allstate Corp purchased a new position in COPT Defense Properties during the 1st quarter valued at about $201,000.

COPT Defense Properties Stock Up 0.8 %

Shares of CDP opened at $29.48 on Thursday. The firm has a market cap of $3.32 billion, a P/E ratio of -27.30, a P/E/G ratio of 2.72 and a beta of 0.98. The stock has a 50 day simple moving average of $27.15 and a two-hundred day simple moving average of $25.14. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $29.68.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts forecast that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 4.00%. COPT Defense Properties’s payout ratio is currently -109.26%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CDP. Evercore ISI lifted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wedbush boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.43.

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.