AQR Capital Management LLC Raises Stock Holdings in COPT Defense Properties (NYSE:CDP)

AQR Capital Management LLC grew its holdings in shares of COPT Defense Properties (NYSE:CDP) by 315.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 567,997 shares of the company’s stock after purchasing an additional 431,173 shares during the period. AQR Capital Management LLC owned approximately 0.50% of COPT Defense Properties worth $13,978,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CDP. Heritage Wealth Advisors acquired a new position in COPT Defense Properties in the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY acquired a new stake in COPT Defense Properties during the 2nd quarter worth $50,000. Bessemer Group Inc. purchased a new stake in COPT Defense Properties during the 1st quarter valued at about $100,000. Lazard Asset Management LLC purchased a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $102,000. Finally, Allstate Corp acquired a new stake in shares of COPT Defense Properties in the 1st quarter worth $201,000.

Insider Buying and Selling at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is owned by corporate insiders.

COPT Defense Properties Stock Performance

Shares of CDP stock opened at $30.64 on Wednesday. The company’s fifty day moving average price is $29.29 and its two-hundred day moving average price is $26.14. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $30.99. The firm has a market capitalization of $3.45 billion, a P/E ratio of -28.37, a P/E/G ratio of 2.66 and a beta of 0.99. 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 released its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The business had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. During the same quarter last year, the company earned $0.60 EPS. COPT Defense Properties’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.295 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.18 annualized dividend and a dividend yield of 3.85%. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDP. Truist Financial raised their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Wedbush increased their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company cut their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Finally, Evercore ISI increased their price target 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

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.