Quest Partners LLC Has $1.31 Million Holdings in COPT Defense Properties (NYSE:CDP)

Quest Partners LLC trimmed its position in shares of COPT Defense Properties (NYSE:CDP) by 51.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,055 shares of the company’s stock after selling 45,895 shares during the period. Quest Partners LLC’s holdings in COPT Defense Properties were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of COPT Defense Properties in the 1st quarter valued at about $2,498,000. ProShare Advisors LLC acquired a new position in COPT Defense Properties during the first quarter worth approximately $622,000. State Board of Administration of Florida Retirement System bought a new stake in COPT Defense Properties in the first quarter valued at approximately $1,446,000. Vanguard Group Inc. acquired a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $407,496,000. Finally, Clearbridge Investments LLC bought a new position in shares of COPT Defense Properties during the 1st quarter worth approximately $19,459,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CDP shares. JPMorgan Chase & Co. increased their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial increased their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Evercore ISI lifted their target price 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. Wells Fargo & Company lowered 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 report on Wednesday, September 11th. Finally, Wedbush boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, COPT Defense Properties currently has an average rating of “Moderate Buy” and an average price target of $30.86.

COPT Defense Properties Price Performance

NYSE:CDP opened at $30.41 on Wednesday. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The firm’s 50-day simple moving average is $31.24 and its 200 day simple moving average is $28.14. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 24.93 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, October 28th. The company reported $0.32 EPS 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%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, sell-side analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.88%. COPT Defense Properties’s payout ratio is 96.72%.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of the business’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 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is currently owned by insiders.

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.