Daiwa Securities Group Inc. Sells 1,383 Shares of COPT Defense Properties (NYSE:CDP)

Daiwa Securities Group Inc. cut its stake in shares of COPT Defense Properties (NYSE:CDP) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,064 shares of the company’s stock after selling 1,383 shares during the period. Daiwa Securities Group Inc.’s holdings in COPT Defense Properties were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Michigan Retirement System bought a new position in shares of COPT Defense Properties in the first quarter worth approximately $665,000. Handelsinvest Investeringsforvaltning bought a new position in shares of COPT Defense Properties in the first quarter worth approximately $455,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of COPT Defense Properties in the first quarter worth approximately $3,081,000. State of Alaska Department of Revenue bought a new position in shares of COPT Defense Properties in the first quarter worth approximately $1,581,000. Finally, Leeward Investments LLC MA bought a new position in shares of COPT Defense Properties in the first quarter worth approximately $13,350,000.

Insider Buying and Selling

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought 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 directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CDP shares. Truist Financial increased their price target on shares of 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 increased 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. JPMorgan Chase & Co. increased their price target on shares of 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 reduced their price target on shares of 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, Evercore ISI increased 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 Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.00.

COPT Defense Properties Stock Performance

NYSE:CDP opened at $30.10 on Monday. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $30.15. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The business has a 50 day moving average price of $28.34 and a 200-day moving average price of $25.63.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s payout ratio is -109.26%.

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.