BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 69,116 Shares of COPT Defense Properties (NYSE:CDP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its stake in COPT Defense Properties (NYSE:CDP) by 12.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 508,397 shares of the company’s stock after selling 69,116 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.45% of COPT Defense Properties worth $12,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CDP. Principal Financial Group Inc. increased its position in COPT Defense Properties by 179.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock worth $29,807,000 after buying an additional 764,859 shares during the period. Bailard Inc. increased its position in COPT Defense Properties by 6.7% in the 2nd quarter. Bailard Inc. now owns 17,400 shares of the company’s stock worth $436,000 after buying an additional 1,100 shares during the period. Spirit of America Management Corp NY bought a new position in COPT Defense Properties in the 2nd quarter worth approximately $50,000. Fifth Third Bancorp grew its holdings in shares of COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock worth $1,462,000 after purchasing an additional 574 shares in the last quarter. Finally, Leeward Investments LLC MA grew its holdings in shares of COPT Defense Properties by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 583,391 shares of the company’s stock worth $14,602,000 after purchasing an additional 31,072 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CDP. Wells Fargo & Company lifted their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday. 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. Truist Financial boosted their price target on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Wedbush 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 Monday, August 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.50.

COPT Defense Properties Trading Down 0.1 %

CDP stock opened at $29.79 on Friday. The company has a market cap of $3.36 billion, a P/E ratio of -27.58, a PEG ratio of 2.72 and a beta of 0.98. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $30.05. 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 moving average of $27.46 and a 200-day moving average of $25.24.

COPT Defense Properties (NYSE:CDP) last released its 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). The firm had revenue of $187.34 million for the quarter, compared to the consensus estimate 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 firm earned $0.60 EPS. As a group, equities research analysts expect that COPT Defense Properties will post 2.56 EPS for the current year.

COPT Defense Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.96%. COPT Defense Properties’s payout ratio is currently -109.26%.

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.