Entropy Technologies LP Sells 2,300 Shares of COPT Defense Properties (NYSE:CDP)

Entropy Technologies LP lessened its holdings in COPT Defense Properties (NYSE:CDP) by 20.2% during the third quarter, HoldingsChannel.com reports. The fund owned 9,086 shares of the company’s stock after selling 2,300 shares during the period. Entropy Technologies LP’s holdings in COPT Defense Properties were worth $276,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in shares of COPT Defense Properties during the third quarter worth $252,000. Meritage Portfolio Management bought a new stake in COPT Defense Properties during the 3rd quarter worth $543,000. Atria Investments Inc increased its holdings in COPT Defense Properties by 63.2% in the 3rd quarter. Atria Investments Inc now owns 13,256 shares of the company’s stock worth $402,000 after purchasing an additional 5,135 shares in the last quarter. Carmel Capital Partners LLC raised its position in COPT Defense Properties by 3.5% in the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock valued at $525,000 after purchasing an additional 584 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in COPT Defense Properties by 17.2% in the third quarter. Asset Management One Co. Ltd. now owns 220,524 shares of the company’s stock valued at $6,688,000 after purchasing an additional 32,362 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective 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 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 lifted their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company decreased their price objective 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 lifted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.86.

COPT Defense Properties Stock Performance

CDP stock opened at $29.91 on Friday. The firm has a market cap of $3.37 billion, a PE ratio of 24.52 and a beta of 0.98. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $31.20 and a 200-day moving average price of $28.03. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued 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 business had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $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 year.

COPT Defense Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is currently 96.72%.

Insider Activity

In other 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 cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.