Waterfront Capital Partners LLC Lowers Stake in COPT Defense Properties (NYSE:CDP)

Waterfront Capital Partners LLC reduced its holdings in shares of COPT Defense Properties (NYSE:CDP) by 16.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 493,443 shares of the company’s stock after selling 98,654 shares during the period. COPT Defense Properties makes up 2.1% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 19th largest holding. Waterfront Capital Partners LLC owned about 0.44% of COPT Defense Properties worth $14,966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spirit of America Management Corp NY acquired a new stake in shares of COPT Defense Properties in the 2nd quarter worth $50,000. Quarry LP grew its holdings in shares of COPT Defense Properties by 711.4% during the second quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after buying an additional 3,052 shares in the last quarter. KBC Group NV grew its holdings in shares of COPT Defense Properties by 28.3% during the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after buying an additional 840 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of COPT Defense Properties during the first quarter worth about $102,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. 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 report on Monday, August 5th. Wells Fargo & Company lowered their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. BTIG Research boosted their target price on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial boosted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Evercore ISI boosted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, COPT Defense Properties presently has an average rating of “Moderate Buy” and an average price target of $31.75.

COPT Defense Properties Trading Up 0.4 %

NYSE CDP opened at $32.83 on Friday. The company’s fifty day simple moving average is $31.52 and its 200-day simple moving average is $28.45. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. 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 market cap of $3.70 billion, a P/E ratio of 26.91 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last posted 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 company 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%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. Equities research analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal 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 paid a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 3.59%. COPT Defense Properties’s payout ratio is 96.72%.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $58,820. This represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is owned by insiders.

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.