Algert Global LLC Increases Stake in COPT Defense Properties (NYSE:CDP)

Algert Global LLC increased its position in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 24.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 464,636 shares of the company's stock after purchasing an additional 92,466 shares during the period. COPT Defense Properties makes up 0.4% of Algert Global LLC's portfolio, making the stock its 27th largest holding. Algert Global LLC owned about 0.41% of COPT Defense Properties worth $14,092,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Spirit of America Management Corp NY bought a new stake in COPT Defense Properties during the 2nd quarter valued at about $50,000. Quarry LP lifted its holdings in COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company's stock valued at $87,000 after buying an additional 3,052 shares in the last quarter. Bessemer Group Inc. bought a new stake in COPT Defense Properties during the 1st quarter valued at about $100,000. Lazard Asset Management LLC bought a new stake in shares of COPT Defense Properties in the 1st quarter valued at about $102,000. Finally, KBC Group NV lifted its position in shares of COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company's stock worth $116,000 after purchasing an additional 840 shares during the period.

Insider Transactions at COPT Defense Properties

In related 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 purchased at an average price of $29.41 per share, with a total value of $29,410.00. Following the purchase, the chief operating officer now owns 2,000 shares of the company's stock, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDP. Wells Fargo & Company cut their price target 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 report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Wedbush increased their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Finally, Truist Financial lifted their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, COPT Defense Properties currently has an average rating of "Moderate Buy" and an average price target of $30.86.

COPT Defense Properties Stock Performance

CDP traded up $0.68 during trading on Friday, reaching $31.84. 3,044,874 shares of the company's stock were exchanged, compared to its average volume of 1,104,972. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market capitalization of $3.59 billion, a P/E ratio of 26.10 and a beta of 0.98. The company's fifty day simple moving average is $31.33 and its 200-day simple moving average is $28.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million for the quarter, compared to analysts' expectations of $167.37 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid 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 3.71%. COPT Defense Properties's payout ratio is 96.72%.

COPT Defense Properties Company 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.