Intech Investment Management LLC Buys Shares of 21,321 COPT Defense Properties (NYSE:CDP)

Intech Investment Management LLC purchased a new position in COPT Defense Properties (NYSE:CDP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 21,321 shares of the company’s stock, valued at approximately $534,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDP. Russell Investments Group Ltd. purchased a new position in COPT Defense Properties during the first quarter valued at $2,498,000. Swiss National Bank bought a new position in shares of COPT Defense Properties during the first quarter valued at $5,361,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of COPT Defense Properties in the 1st quarter worth about $3,081,000. Leeward Investments LLC MA bought a new position in COPT Defense Properties in the 1st quarter worth about $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in COPT Defense Properties in the 1st quarter worth about $13,958,000.

COPT Defense Properties Price Performance

NYSE CDP opened at $30.52 on Friday. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -28.26, a PEG ratio of 2.88 and a beta of 0.99. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $30.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The business’s fifty day moving average price is $29.01 and its 200-day moving average price is $25.95.

COPT Defense Properties (NYSE:CDP) last posted 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 during the quarter, compared to the consensus estimate 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 firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. On average, equities analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Analysts Set New Price Targets

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

Insider Transactions at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, with a total value of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

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.