Swiss National Bank Sells 1,800 Shares of COPT Defense Properties (NYSE:CDP)

Swiss National Bank trimmed its holdings in shares of COPT Defense Properties (NYSE:CDP) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,000 shares of the company’s stock after selling 1,800 shares during the quarter. Swiss National Bank owned 0.20% of COPT Defense Properties worth $6,673,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings 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 valued at $81,948,000 after buying an additional 1,293,761 shares in the last quarter. Sei Investments Co. grew its stake in COPT Defense Properties by 9.6% in the 2nd quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $49,648,000 after acquiring an additional 174,206 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of COPT Defense Properties by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,630,799 shares of the company’s stock worth $40,818,000 after acquiring an additional 69,656 shares during the period. Principal Financial Group Inc. raised its stake in shares of COPT Defense Properties by 179.5% during the second quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock valued at $29,807,000 after acquiring an additional 764,859 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of COPT Defense Properties by 2.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 886,136 shares of the company’s stock valued at $26,876,000 after purchasing an additional 17,306 shares during the period.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wedbush upped their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial raised 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 report on Thursday, August 29th. Finally, Evercore ISI upped their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.86.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired 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 approximately $58,820. The trade was a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by insiders.

COPT Defense Properties Stock Performance

CDP stock opened at $32.70 on Wednesday. The firm has a 50-day simple moving average of $31.43 and a two-hundred day simple moving average of $28.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 26.80 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. During the same quarter last year, the business earned $0.60 earnings per share. COPT Defense Properties’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.61%. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

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.