Stifel Financial Corp Sells 940 Shares of COPT Defense Properties (NYSE:CDP)

Stifel Financial Corp lowered its position in COPT Defense Properties (NYSE:CDP) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,108 shares of the company’s stock after selling 940 shares during the quarter. Stifel Financial Corp’s holdings in COPT Defense Properties were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CDP. Point72 DIFC Ltd acquired a new position in shares of COPT Defense Properties in the third quarter valued at $208,000. Centiva Capital LP raised its stake in shares of COPT Defense Properties by 52.7% in the 3rd quarter. Centiva Capital LP now owns 28,312 shares of the company’s stock valued at $859,000 after buying an additional 9,770 shares in the last quarter. Adelante Capital Management LLC bought a new position in shares of COPT Defense Properties during the 3rd quarter worth about $436,000. Martingale Asset Management L P acquired a new stake in shares of COPT Defense Properties during the 3rd quarter valued at about $3,155,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in COPT Defense Properties by 404.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 792,728 shares of the company’s stock valued at $24,043,000 after acquiring an additional 635,705 shares during the period.

Analysts Set New Price Targets

Several research firms recently commented on CDP. JPMorgan Chase & Co. raised their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Evercore ISI upped their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BTIG Research increased their target price on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Truist Financial boosted their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

COPT Defense Properties Trading Down 1.3 %

CDP stock opened at $31.04 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The company has a market cap of $3.50 billion, a P/E ratio of 25.44 and a beta of 0.98. The business has a fifty day moving average of $31.92 and a 200-day moving average of $29.63.

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 the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, equities research analysts expect that COPT Defense Properties will post 2.58 EPS for the current year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend on an annualized basis and a yield of 3.80%. COPT Defense Properties’s payout ratio is 96.72%.

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.