Sei Investments Co. Has $49.65 Million Stake in COPT Defense Properties (NYSE:CDP)

Sei Investments Co. lifted its position in shares of COPT Defense Properties (NYSE:CDP) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,983,526 shares of the company’s stock after buying an additional 174,206 shares during the period. Sei Investments Co. owned about 1.76% of COPT Defense Properties worth $49,648,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CDP. Fifth Third Bancorp boosted its position in COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock worth $1,462,000 after acquiring an additional 574 shares during the last quarter. Arizona State Retirement System boosted its holdings in COPT Defense Properties by 1.9% during the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after purchasing an additional 578 shares during the last quarter. Van ECK Associates Corp grew its position in COPT Defense Properties by 5.1% in the second quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock valued at $500,000 after purchasing an additional 967 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in COPT Defense Properties by 12.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,342 shares of the company’s stock valued at $233,000 after buying an additional 1,037 shares during the last quarter. Finally, Bailard Inc. lifted its position in COPT Defense Properties by 6.7% during the 2nd quarter. Bailard Inc. now owns 17,400 shares of the company’s stock worth $436,000 after buying an additional 1,100 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wedbush raised their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target 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. Evercore ISI upped their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their target price 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. Finally, Truist Financial upped their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

COPT Defense Properties Price Performance

NYSE:CDP opened at $30.00 on Monday. The company has a market cap of $3.38 billion, a P/E ratio of -27.78, a P/E/G ratio of 2.86 and a beta of 0.99. The firm’s fifty day moving average price is $28.80 and its two-hundred day moving average price is $25.84. COPT Defense Properties has a one year low of $22.20 and a one year high of $30.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17.

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). The company 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%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Equities analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

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

Insider Buying and Selling at COPT Defense Properties

In related 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 acquired 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 in the company, valued at $58,820. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.06% of the company’s stock.

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.