COPT Defense Properties (NYSE:CDP) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in COPT Defense Properties (NYSE:CDP) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 497,064 shares of the company’s stock after selling 2,172 shares during the period. Retirement Systems of Alabama owned approximately 0.44% of COPT Defense Properties worth $15,076,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millennium Management LLC increased its stake in 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 buying an additional 1,293,761 shares during the period. Geode Capital Management LLC boosted its holdings in shares of COPT Defense Properties by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock valued at $88,797,000 after acquiring an additional 21,388 shares in the last quarter. FMR LLC increased its stake in shares of COPT Defense Properties by 1.8% during the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after acquiring an additional 49,300 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in COPT Defense Properties by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock worth $76,521,000 after purchasing an additional 18,770 shares in the last quarter. Finally, Sei Investments Co. lifted its position in COPT Defense Properties by 9.6% in the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock valued at $49,648,000 after purchasing an additional 174,206 shares during the period.

COPT Defense Properties Stock Down 0.4 %

COPT Defense Properties stock opened at $32.50 on Monday. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 26.64 and a beta of 0.98. The stock’s fifty day moving average is $31.96 and its two-hundred day moving average is $29.14. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS 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 was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Analysts predict that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.63%. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CDP. JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. 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 report on Wednesday, September 11th. Evercore ISI boosted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, BTIG Research raised their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

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.