Asset Management One Co. Ltd. Acquires 32,362 Shares of COPT Defense Properties (NYSE:CDP)

Asset Management One Co. Ltd. increased its holdings in shares of COPT Defense Properties (NYSE:CDP) by 17.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 220,524 shares of the company’s stock after purchasing an additional 32,362 shares during the period. Asset Management One Co. Ltd. owned approximately 0.20% of COPT Defense Properties worth $6,688,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in COPT Defense Properties by 10.5% in the 3rd quarter. Van ECK Associates Corp now owns 22,085 shares of the company’s stock valued at $707,000 after purchasing an additional 2,104 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of COPT Defense Properties by 2.0% during 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 buying an additional 17,306 shares during the last quarter. abrdn plc lifted its stake in shares of COPT Defense Properties by 10.5% in the third quarter. abrdn plc now owns 22,492 shares of the company’s stock valued at $682,000 after buying an additional 2,146 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of COPT Defense Properties in the third quarter valued at about $236,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in COPT Defense Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after buying an additional 1,130 shares in the last quarter.

COPT Defense Properties Stock Down 0.8 %

Shares of NYSE CDP opened at $32.11 on Friday. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 2.38. The business has a fifty day moving average of $30.99 and a two-hundred day moving average of $27.67. The stock has a market cap of $3.62 billion, a PE ratio of 26.39 and a beta of 0.98.

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

Analysts Set New Price Targets

CDP has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Truist Financial upped their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Wedbush lifted their price target 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. Wells Fargo & Company dropped their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI lifted 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.86.

Insider Transactions at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the transaction, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.06% of the stock is owned by company insiders.

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.