Westwood Holdings Group Inc. Trims Stock Holdings in COPT Defense Properties (NYSE:CDP)

Westwood Holdings Group Inc. lessened its holdings in COPT Defense Properties (NYSE:CDP) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,634,290 shares of the company’s stock after selling 91,180 shares during the quarter. Westwood Holdings Group Inc. owned approximately 3.23% of COPT Defense Properties worth $90,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Heritage Wealth Advisors purchased a new stake in shares of COPT Defense Properties in the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY acquired a new position in shares of COPT Defense Properties in the 2nd quarter valued at about $50,000. Bessemer Group Inc. acquired a new position in shares of COPT Defense Properties in the first quarter worth about $100,000. Lazard Asset Management LLC acquired a new stake in COPT Defense Properties in the first quarter valued at approximately $102,000. Finally, Allstate Corp purchased a new stake in shares of COPT Defense Properties during the first quarter worth about $201,000.

COPT Defense Properties Stock Performance

Shares of CDP stock opened at $30.00 on Friday. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $30.99. The stock’s 50-day moving average price is $28.80 and its 200 day moving average price is $25.82. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $3.38 billion, a PE ratio of -27.78, a price-to-earnings-growth ratio of 2.86 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The firm had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. COPT Defense Properties’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, equities research analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial increased their target price 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. Evercore ISI raised their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wedbush boosted their target price on 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 cut their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Insiders Place Their Bets

In related news, COO Britt A. Snider purchased 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the transaction, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.06% of the stock is currently owned by company 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.