Mirae Asset Global Investments Co. Ltd. Acquires 1,130 Shares of COPT Defense Properties (NYSE:CDP)

Mirae Asset Global Investments Co. Ltd. increased its holdings in COPT Defense Properties (NYSE:CDP) by 34.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,372 shares of the company’s stock after purchasing an additional 1,130 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in COPT Defense Properties were worth $134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Michigan Retirement System bought a new stake in shares of COPT Defense Properties in the 1st quarter valued at about $665,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of COPT Defense Properties in the first quarter worth approximately $3,081,000. State of Alaska Department of Revenue bought a new stake in COPT Defense Properties in the first quarter valued at approximately $1,581,000. BNP Paribas Financial Markets acquired a new stake in COPT Defense Properties during the 1st quarter valued at approximately $2,858,000. Finally, Nordea Investment Management AB bought a new position in COPT Defense Properties during the 1st quarter worth approximately $10,069,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDP. Truist Financial increased their price objective 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 increased their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company decreased their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI lifted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.86.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the company’s 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 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.06% of the company’s stock.

COPT Defense Properties Stock Performance

Shares of CDP opened at $32.47 on Tuesday. The stock has a 50-day moving average of $30.81 and a 200-day moving average of $27.53. COPT Defense Properties has a one year low of $22.20 and a one year high of $33.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 3.17. The company has a market cap of $3.66 billion, a PE ratio of 26.61 and a beta of 0.98.

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

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is 96.72%.

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.