Algert Global LLC Has $14.09 Million Stock Position in COPT Defense Properties (NYSE:CDP)

Algert Global LLC boosted its position in shares of COPT Defense Properties (NYSE:CDP) by 24.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 464,636 shares of the company’s stock after buying an additional 92,466 shares during the quarter. COPT Defense Properties makes up about 0.4% of Algert Global LLC’s portfolio, making the stock its 27th largest position. Algert Global LLC’s holdings in COPT Defense Properties were worth $14,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new position in COPT Defense Properties in the first quarter valued at approximately $407,496,000. Earnest Partners LLC bought a new stake in shares of COPT Defense Properties during the 1st quarter valued at $129,344,000. Millennium Management LLC lifted its stake in shares of COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after purchasing an additional 1,293,761 shares during the period. Principal Financial Group Inc. boosted its position in shares of COPT Defense Properties by 179.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock worth $29,807,000 after purchasing an additional 764,859 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of COPT Defense Properties by 443.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,261 shares of the company’s stock worth $17,327,000 after purchasing an additional 564,794 shares during the period.

COPT Defense Properties Stock Up 2.2 %

CDP stock opened at $31.84 on Friday. The business has a 50-day moving average of $31.33 and a 200-day moving average of $28.22. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The stock has a market capitalization of $3.59 billion, a P/E ratio of 26.10 and a beta of 0.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32). The business had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 3.71%. COPT Defense Properties’s payout ratio is currently 96.72%.

Analysts Set New Price Targets

CDP has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial upped 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. Wedbush boosted their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company dropped their price objective 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. Finally, JPMorgan Chase & Co. increased their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

Insiders Place Their Bets

In related news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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.