Foster & Motley Inc. Sells 1,884 Shares of COPT Defense Properties (NYSE:CDP)

Foster & Motley Inc. reduced its holdings in COPT Defense Properties (NYSE:CDP) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,709 shares of the company’s stock after selling 1,884 shares during the quarter. Foster & Motley Inc.’s holdings in COPT Defense Properties were worth $203,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its position in COPT Defense Properties by 1.4% in the third quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares in the last quarter. Fifth Third Bancorp increased its stake in COPT Defense Properties by 1.0% in the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after purchasing an additional 574 shares in the last quarter. Arizona State Retirement System raised its position in shares of COPT Defense Properties by 1.9% during the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after purchasing an additional 578 shares during the period. Presima Securities ULC lifted its stake in COPT Defense Properties by 1.3% in the third quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock valued at $1,832,000 after buying an additional 800 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in COPT Defense Properties by 5.1% in the 2nd quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock valued at $500,000 after acquiring an additional 967 shares in the last quarter.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider purchased 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 trade was a 100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

CDP has been the subject of several recent research reports. 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 report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI boosted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company reduced their price target on shares of 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.86.

COPT Defense Properties Stock Performance

Shares of CDP stock opened at $32.11 on Friday. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a market cap of $3.62 billion, a P/E ratio of 26.32 and a beta of 0.98. The firm has a 50-day moving average of $30.99 and a 200-day moving average of $27.67. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 3.17.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The business had revenue of $189.23 million during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties 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.