Oppenheimer Asset Management Inc. Sells 562 Shares of COPT Defense Properties (NYSE:CDP)

Oppenheimer Asset Management Inc. reduced its stake in COPT Defense Properties (NYSE:CDP) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 30,044 shares of the company’s stock after selling 562 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in COPT Defense Properties were worth $911,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in COPT Defense Properties during the third quarter valued at about $2,558,000. Los Angeles Capital Management LLC bought a new stake in COPT Defense Properties during the third quarter valued at about $252,000. Meritage Portfolio Management bought a new stake in COPT Defense Properties during the third quarter valued at about $543,000. Atria Investments Inc raised its holdings in COPT Defense Properties by 63.2% during the third quarter. Atria Investments Inc now owns 13,256 shares of the company’s stock valued at $402,000 after acquiring an additional 5,135 shares during the period. Finally, Carmel Capital Partners LLC raised its holdings in COPT Defense Properties by 3.5% during the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock valued at $525,000 after acquiring an additional 584 shares during the period.

COPT Defense Properties Stock Down 0.2 %

Shares of NYSE:CDP opened at $29.84 on Tuesday. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22. The business has a 50 day simple moving average of $31.22 and a two-hundred day simple moving average of $28.09. The firm has a market capitalization of $3.36 billion, a PE ratio of 24.46 and a beta of 0.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last announced its 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). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The business had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CDP shares. JPMorgan Chase & Co. raised their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Truist Financial raised their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wedbush raised 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 Monday, August 5th. Finally, Evercore ISI lifted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, COPT Defense Properties presently has an average rating of “Moderate Buy” and a consensus target price of $30.86.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares of the company’s stock, valued at approximately $58,820. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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.