Fmr LLC Has $83.81 Million Stock Position in COPT Defense Properties (NYSE:CDP)

Fmr LLC increased its holdings in COPT Defense Properties (NYSE:CDP) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,763,277 shares of the company’s stock after acquiring an additional 49,300 shares during the period. Fmr LLC owned about 2.45% of COPT Defense Properties worth $83,810,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in COPT Defense Properties by 65.3% during the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after acquiring an additional 1,293,761 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of COPT Defense Properties by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock valued at $76,521,000 after purchasing an additional 18,770 shares during the last quarter. Sei Investments Co. lifted its position in shares of COPT Defense Properties by 9.6% during the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock valued at $49,648,000 after purchasing an additional 174,206 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in COPT Defense Properties by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,630,799 shares of the company’s stock worth $40,818,000 after purchasing an additional 69,656 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in COPT Defense Properties by 179.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock worth $29,807,000 after purchasing an additional 764,859 shares in the last quarter.

Wall Street Analyst Weigh In

CDP has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday. BTIG Research lifted their price target on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Evercore ISI upped their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Activity at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 owns 2,000 shares in the company, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by corporate insiders.

COPT Defense Properties Trading Up 1.1 %

CDP opened at $32.60 on Friday. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. The business has a 50 day simple moving average of $31.73 and a two-hundred day simple moving average of $28.72. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 26.72 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced 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 for the quarter, compared to analysts’ expectations of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 annualized dividend and a dividend yield of 3.62%. COPT Defense Properties’s payout ratio is currently 96.72%.

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.