Presima Securities ULC Grows Stake in COPT Defense Properties (NYSE:CDP)

Presima Securities ULC boosted its holdings in shares of COPT Defense Properties (NYSE:CDP) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,410 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Presima Securities ULC owned about 0.05% of COPT Defense Properties worth $1,832,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of COPT Defense Properties during the first quarter valued at approximately $2,498,000. Swiss National Bank bought a new stake in COPT Defense Properties in the 1st quarter valued at $5,361,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in COPT Defense Properties in the 1st quarter valued at $3,081,000. Leeward Investments LLC MA purchased a new stake in COPT Defense Properties in the 1st quarter worth $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of COPT Defense Properties during the 1st quarter valued at about $13,958,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. 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. Wells Fargo & Company reduced their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Wedbush increased their target price 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. JPMorgan Chase & Co. raised their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Evercore ISI 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 note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.06% of the stock is owned by insiders.

COPT Defense Properties Price Performance

Shares of COPT Defense Properties stock opened at $32.33 on Thursday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -31.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17. The stock has a 50 day moving average price of $29.92 and a 200-day moving average price of $26.68. COPT Defense Properties has a one year low of $22.20 and a one year high of $32.49.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The firm had revenue of $187.34 million for the quarter, compared to analysts’ expectations of $166.11 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts expect that COPT Defense Properties will post 2.57 EPS 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. Investors of record on Monday, September 30th will be issued a dividend of $0.295 per share. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 3.65%. COPT Defense Properties’s payout ratio is -113.46%.

COPT Defense Properties 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.