Bank of Montreal Can Buys 2,959 Shares of COPT Defense Properties (NYSE:CDP)

Bank of Montreal Can lifted its stake in shares of COPT Defense Properties (NYSE:CDP) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,649 shares of the company’s stock after buying an additional 2,959 shares during the quarter. Bank of Montreal Can owned about 0.06% of COPT Defense Properties worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Spirit of America Management Corp NY purchased a new position in shares of COPT Defense Properties during the 2nd quarter worth approximately $50,000. Quarry LP grew its stake in COPT Defense Properties by 711.4% in the second quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after purchasing an additional 3,052 shares during the period. KBC Group NV raised its holdings in COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after purchasing an additional 840 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $134,000 after buying an additional 1,130 shares during the period. Finally, Arkadios Wealth Advisors bought a new stake in shares of COPT Defense Properties during the 3rd quarter valued at $236,000.

COPT Defense Properties Price Performance

Shares of NYSE CDP opened at $32.60 on Friday. The firm has a market cap of $3.67 billion, a P/E ratio of 26.72 and a beta of 0.98. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average of $31.73 and a 200 day moving average of $28.72.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts expect that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.62%. COPT Defense Properties’s dividend payout ratio is presently 96.72%.

Analysts Set New Price Targets

CDP has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Truist Financial lifted their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday. Evercore ISI upped their price target on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BTIG Research raised their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insider Activity

In other news, COO Britt A. Snider purchased 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.06% of the stock is owned by corporate 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.