COPT Defense Properties (NYSE:CDP) Stock Holdings Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its position in COPT Defense Properties (NYSE:CDP) by 28.1% during the third quarter, Holdings Channel reports. The institutional investor owned 186,399 shares of the company’s stock after selling 72,865 shares during the quarter. Wedge Capital Management L L P NC’s holdings in COPT Defense Properties were worth $5,653,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC raised its holdings in shares of COPT Defense Properties by 1.4% in the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after acquiring an additional 574 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of COPT Defense Properties by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after acquiring an additional 578 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of COPT Defense Properties by 5.1% in the 2nd quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock worth $500,000 after acquiring an additional 967 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of COPT Defense Properties by 12.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,342 shares of the company’s stock worth $233,000 after purchasing an additional 1,037 shares during the period.

Wall Street Analyst Weigh In

CDP has been the subject of a number of recent analyst reports. Truist Financial increased their price target 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. JPMorgan Chase & Co. increased their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI boosted their target price on shares of 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 lowered their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Finally, Wedbush upped their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Insiders Place Their Bets

In other news, COO Britt A. Snider bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired 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 in the company, valued at approximately $58,820. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.06% of the company’s stock.

COPT Defense Properties Price Performance

NYSE:CDP opened at $31.31 on Tuesday. The stock’s 50 day moving average price is $29.76 and its two-hundred day moving average price is $26.58. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $31.50. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -30.11 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $0.60 earnings per share. COPT Defense Properties’s revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is currently -113.46%.

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.