COPT Defense Properties (NYSE:CDP) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. decreased its position in COPT Defense Properties (NYSE:CDP) by 59.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,797 shares of the company’s stock after selling 5,606 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in COPT Defense Properties were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State of Michigan Retirement System acquired a new position in COPT Defense Properties during the 1st quarter worth approximately $665,000. Handelsinvest Investeringsforvaltning purchased a new position in COPT Defense Properties in the first quarter worth $455,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in COPT Defense Properties in the first quarter valued at $3,081,000. State of Alaska Department of Revenue acquired a new stake in COPT Defense Properties in the first quarter valued at $1,581,000. Finally, Leeward Investments LLC MA purchased a new stake in shares of COPT Defense Properties during the 1st quarter worth $13,350,000.

Analyst Ratings Changes

Several analysts recently commented on CDP shares. Wedbush raised 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 note on Monday, August 5th. Truist Financial boosted their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Evercore ISI raised their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. 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. Finally, Wells Fargo & Company dropped their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, COPT Defense Properties presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

COPT Defense Properties Stock Performance

COPT Defense Properties stock opened at $30.58 on Friday. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $30.99. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -28.31, a PEG ratio of 2.64 and a beta of 0.99. The stock has a fifty day moving average of $29.16 and a two-hundred day moving average of $26.04. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $187.34 million for the quarter, compared to analysts’ expectations of $166.11 million. During the same quarter in the prior year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s payout ratio is -109.26%.

Insider Buying and Selling

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares of the company’s stock, valued at approximately $58,820. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is owned by company 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.