Citigroup Inc. Has $4.16 Million Stake in COPT Defense Properties (NYSE:CDP)

Citigroup Inc. increased its stake in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 81.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,075 shares of the company's stock after purchasing an additional 61,389 shares during the period. Citigroup Inc. owned approximately 0.12% of COPT Defense Properties worth $4,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDP. CWM LLC grew its stake in shares of COPT Defense Properties by 1.4% during the 3rd quarter. CWM LLC now owns 35,098 shares of the company's stock valued at $1,065,000 after purchasing an additional 475 shares during the period. Fifth Third Bancorp boosted its holdings in shares of COPT Defense Properties by 1.0% in the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company's stock worth $1,462,000 after buying an additional 574 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of COPT Defense Properties by 1.9% in the second quarter. Arizona State Retirement System now owns 31,508 shares of the company's stock worth $789,000 after buying an additional 578 shares during the last quarter. Carmel Capital Partners LLC grew its position in COPT Defense Properties by 3.5% during the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company's stock valued at $525,000 after buying an additional 584 shares during the period. Finally, Presima Securities ULC increased its holdings in COPT Defense Properties by 1.3% during the third quarter. Presima Securities ULC now owns 60,410 shares of the company's stock valued at $1,832,000 after buying an additional 800 shares during the last quarter.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider acquired 1,000 shares of the stock in a transaction dated 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 acquisition, the chief operating officer now owns 2,000 shares in the company, valued at approximately $58,820. The trade was a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.06% of the company's stock.

Wall Street Analysts Forecast Growth

CDP has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Evercore ISI raised their price target on 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 lifted 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. BTIG Research increased their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their target price on shares of 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

COPT Defense Properties Stock Up 0.4 %

NYSE:CDP opened at $32.52 on Wednesday. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22. The company's fifty day moving average price is $31.66 and its 200-day moving average price is $28.67. 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 firm has a market capitalization of $3.66 billion, a P/E ratio of 26.66 and a beta of 0.98.

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

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given 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 yield of 3.63%. COPT Defense Properties's payout ratio is presently 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.