COPT Defense Properties (NYSE:CDP) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. decreased its position in shares of COPT Defense Properties (NYSE:CDP) by 2.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,634,290 shares of the company’s stock after selling 91,180 shares during the quarter. Westwood Holdings Group Inc.’s holdings in COPT Defense Properties were worth $90,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CDP. State of Michigan Retirement System acquired a new stake in COPT Defense Properties in the 1st quarter worth about $665,000. Handelsinvest Investeringsforvaltning purchased a new stake in COPT Defense Properties during the 1st quarter worth $455,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of COPT Defense Properties during the 1st quarter valued at about $3,081,000. State of Alaska Department of Revenue acquired a new stake in COPT Defense Properties in the first quarter valued at approximately $1,581,000. Finally, Leeward Investments LLC MA acquired a new position in shares of COPT Defense Properties during the first quarter worth $13,350,000.

Analyst Upgrades and Downgrades

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

COPT Defense Properties Price Performance

Shares of NYSE:CDP opened at $30.00 on Friday. The company has a market capitalization of $3.38 billion, a PE ratio of -27.78, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17. The stock has a fifty day moving average of $28.80 and a 200-day moving average of $25.82. COPT Defense Properties has a one year low of $22.20 and a one year high of $30.99.

COPT Defense Properties (NYSE:CDP) last released its quarterly 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). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. During the same quarter last year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate 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 Thursday, October 17th. Investors of record on Monday, September 30th will be given a $0.295 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.18 annualized dividend and a dividend yield of 3.93%. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

Insiders Place Their Bets

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 price of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at $58,820. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.