AlphaQuest LLC Increases Position in COPT Defense Properties $CDP

AlphaQuest LLC boosted its position in COPT Defense Properties (NYSE:CDP) by 2,219.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 116,351 shares of the company’s stock after acquiring an additional 111,334 shares during the period. AlphaQuest LLC owned about 0.10% of COPT Defense Properties worth $3,381,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in shares of COPT Defense Properties by 5.9% in the second quarter. Alliancebernstein L.P. now owns 7,241,437 shares of the company’s stock valued at $199,719,000 after purchasing an additional 406,617 shares during the period. Geode Capital Management LLC boosted its stake in COPT Defense Properties by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,101,692 shares of the company’s stock worth $85,553,000 after buying an additional 45,375 shares during the last quarter. Bank of America Corp DE boosted its stake in COPT Defense Properties by 5.4% in the 2nd quarter. Bank of America Corp DE now owns 2,577,065 shares of the company’s stock worth $71,075,000 after buying an additional 131,287 shares during the last quarter. Sei Investments Co. grew its holdings in COPT Defense Properties by 2.5% in the 2nd quarter. Sei Investments Co. now owns 2,194,240 shares of the company’s stock valued at $60,517,000 after buying an additional 52,981 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of COPT Defense Properties by 60.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,472,046 shares of the company’s stock valued at $40,393,000 after acquiring an additional 551,863 shares during the last quarter.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP opened at $30.19 on Friday. The business’s 50-day simple moving average is $29.44 and its 200 day simple moving average is $28.94. The company has a market cap of $3.42 billion, a P/E ratio of 22.70 and a beta of 0.86. The company has a debt-to-equity ratio of 1.57, a quick ratio of 2.34 and a current ratio of 2.34. COPT Defense Properties has a one year low of $23.92 and a one year high of $31.24.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $188.80 million during the quarter, compared to the consensus estimate of $187.63 million. COPT Defense Properties had a net margin of 19.99% and a return on equity of 9.71%. COPT Defense Properties’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. On average, sell-side analysts forecast that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.22 annualized dividend and a yield of 4.0%. COPT Defense Properties’s payout ratio is 91.73%.

Analysts Set New Price Targets

Several research firms recently issued reports on CDP. Weiss Ratings reissued a “buy (b-)” rating on shares of COPT Defense Properties in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their price target on shares of COPT Defense Properties from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. New Street Research set a $33.00 price objective on COPT Defense Properties in a report on Monday, October 13th. Evercore ISI cut their target price on COPT Defense Properties from $35.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Finally, Jefferies Financial Group boosted their price target on COPT Defense Properties from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, COPT Defense Properties has an average rating of “Moderate Buy” and a consensus price target of $33.00.

COPT Defense Properties Profile

COPT Defense Properties (NYSE: CDP) is a real estate investment trust organized to own, lease and manage healthcare and life science facilities serving the United States federal government, with a particular focus on Department of Defense and Veterans Affairs tenants. The company was formed in 2016 through a spin-off from Corporate Office Properties Trust, enabling it to concentrate exclusively on medical office buildings and specialized research facilities situated on or near military and federal research campuses.

The company’s portfolio comprises purpose-built, Class A medical office and outpatient specialty clinics, as well as life science laboratories.