COPT Defense Properties (NYSE:CDP) Stake Increased by Atria Investments Inc

Atria Investments Inc increased its stake in COPT Defense Properties (NYSE:CDP) by 63.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,256 shares of the company’s stock after buying an additional 5,135 shares during the period. Atria Investments Inc’s holdings in COPT Defense Properties were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CDP. CWM LLC lifted its holdings in COPT Defense Properties by 1.4% in the third quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares during the period. Fifth Third Bancorp lifted its holdings in COPT Defense Properties by 1.0% in the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock worth $1,462,000 after purchasing an additional 574 shares during the period. Arizona State Retirement System lifted its holdings in COPT Defense Properties by 1.9% in 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 period. Carmel Capital Partners LLC lifted its holdings in COPT Defense Properties by 3.5% in the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after purchasing an additional 584 shares during the period. Finally, Presima Securities ULC lifted its holdings in COPT Defense Properties by 1.3% in the third quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock worth $1,832,000 after purchasing an additional 800 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CDP. Evercore ISI upped their price objective 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. JPMorgan Chase & Co. boosted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Truist Financial boosted 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. Wedbush boosted 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 report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.86.

COPT Defense Properties Price Performance

NYSE CDP opened at $31.16 on Friday. The company has a market cap of $3.51 billion, a PE ratio of 25.54 and a beta of 0.98. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock’s 50-day moving average price is $31.30 and its two-hundred day moving average price is $28.17.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The business had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. On average, analysts predict that COPT Defense Properties will post 2.57 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. Stockholders of record on Tuesday, December 31st will be issued a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.79%. COPT Defense Properties’s dividend payout ratio is 96.72%.

Insider Activity at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction 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 directly owns 2,000 shares of the company’s stock, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.