COPT Defense Properties (NYSE:CDP) Stock Position Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of COPT Defense Properties (NYSE:CDP) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,870 shares of the company’s stock after selling 22,124 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of COPT Defense Properties worth $7,130,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of COPT Defense Properties during the 1st quarter worth about $407,496,000. Earnest Partners LLC bought a new stake in COPT Defense Properties during the first quarter worth approximately $129,344,000. Westwood Holdings Group Inc. acquired a new stake in COPT Defense Properties in the first quarter worth approximately $90,045,000. Sei Investments Co. bought a new position in COPT Defense Properties during the 1st quarter valued at $43,731,000. Finally, Principal Financial Group Inc. boosted its stake in COPT Defense Properties by 179.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock valued at $29,807,000 after purchasing an additional 764,859 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wedbush boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Evercore ISI upped their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Truist Financial raised their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock opened at $30.58 on Friday. The stock has a market cap of $3.44 billion, a PE ratio of -28.31, a price-to-earnings-growth ratio of 2.64 and a beta of 0.99. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $30.99. 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 business has a fifty day simple moving average of $29.16 and a 200-day simple moving average of $26.04.

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 analysts’ consensus estimates of $0.64 by ($0.33). The business had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, sell-side 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 will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 3.86%. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Insiders Place Their Bets

In related news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

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.