COPT Defense Properties (NYSE:CDP) Stake Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of COPT Defense Properties (NYSE:CDP) by 66.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,928 shares of the company’s stock after purchasing an additional 93,396 shares during the period. Hsbc Holdings PLC owned 0.21% of COPT Defense Properties worth $5,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new stake in shares of COPT Defense Properties in the 1st quarter worth $39,000. Spirit of America Management Corp NY bought a new stake in COPT Defense Properties in the second quarter worth about $50,000. Bessemer Group Inc. acquired a new stake in COPT Defense Properties in the 1st quarter valued at about $100,000. Lazard Asset Management LLC bought a new position in shares of COPT Defense Properties during the 1st quarter valued at about $102,000. Finally, Allstate Corp acquired a new position in shares of COPT Defense Properties in the 1st quarter worth approximately $201,000.

Wall Street Analysts Forecast Growth

Several analysts 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 note on Thursday, August 29th. Evercore ISI increased their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted 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. Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price target 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, COPT Defense Properties presently has an average rating of “Moderate Buy” and an average target price of $30.00.

COPT Defense Properties Stock Up 1.0 %

NYSE:CDP opened at $30.29 on Tuesday. The business’s fifty day moving average price is $28.87 and its 200 day moving average price is $25.88. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -28.05, a PEG ratio of 2.86 and a beta of 0.99. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $30.99.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. During the same quarter in the prior year, the company earned $0.60 EPS. COPT Defense Properties’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of 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 accessible through this link. 1.06% of the stock is currently owned by company insiders.

About COPT Defense Properties

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.