Hsbc Holdings PLC Purchases 93,396 Shares of COPT Defense Properties (NYSE:CDP)

Hsbc Holdings PLC increased its position in COPT Defense Properties (NYSE:CDP) by 66.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 233,928 shares of the company’s stock after buying an additional 93,396 shares during the period. Hsbc Holdings PLC’s holdings in COPT Defense Properties were worth $5,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in shares of COPT Defense Properties by 1.0% in the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock worth $1,462,000 after purchasing an additional 574 shares during the period. Arizona State Retirement System increased its position in COPT Defense Properties by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after buying an additional 578 shares during the period. Van ECK Associates Corp lifted its holdings in shares of COPT Defense Properties by 5.1% during the second quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock worth $500,000 after buying an additional 967 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of COPT Defense Properties by 12.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,342 shares of the company’s stock valued at $233,000 after acquiring an additional 1,037 shares during the period. Finally, Bailard Inc. grew its stake in shares of COPT Defense Properties by 6.7% in the second quarter. Bailard Inc. now owns 17,400 shares of the company’s stock worth $436,000 after acquiring an additional 1,100 shares during the last quarter.

COPT Defense Properties Stock Up 1.0 %

NYSE CDP opened at $30.29 on Tuesday. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $30.99. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average is $28.87 and its two-hundred day moving average is $25.88. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -28.05, a PEG ratio of 2.86 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $0.60 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

Analyst Ratings Changes

CDP has been the subject of several research analyst reports. Truist Financial upped their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wedbush raised their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Activity at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by insiders.

About COPT Defense Properties

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.