COPT Defense Properties (NYSE:CDP) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of COPT Defense Properties (NYSE:CDP) by 73.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,669 shares of the company’s stock after selling 27,009 shares during the quarter. SG Americas Securities LLC’s holdings in COPT Defense Properties were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in shares of COPT Defense Properties during the 1st quarter valued at about $407,496,000. Earnest Partners LLC acquired a new stake in COPT Defense Properties during the 1st quarter worth approximately $129,344,000. Westwood Holdings Group Inc. acquired a new stake in COPT Defense Properties during the 1st quarter worth approximately $90,045,000. Millennium Management LLC increased its position 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 in the last quarter. Finally, Sei Investments Co. increased its position in COPT Defense Properties by 9.6% during the 2nd quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $49,648,000 after purchasing an additional 174,206 shares in the last quarter.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price 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. Evercore ISI increased their target price 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. Wedbush increased their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company dropped 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 research report on Wednesday, September 11th. Finally, Truist Financial increased 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and an average price target of $30.00.

COPT Defense Properties Stock Down 0.2 %

NYSE CDP opened at $32.36 on Monday. The stock has a market cap of $3.65 billion, a PE ratio of -31.12 and a beta of 0.99. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $32.51. The business has a 50 day moving average price of $30.06 and a two-hundred day moving average price of $26.83. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last released 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 business had revenue of $187.34 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. As a group, sell-side analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is currently -113.46%.

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.