Cornercap Investment Counsel Inc. Reduces Stake in COPT Defense Properties (NYSE:CDP)

Cornercap Investment Counsel Inc. lessened its holdings in COPT Defense Properties (NYSE:CDP - Free Report) by 51.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,916 shares of the company's stock after selling 16,955 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in COPT Defense Properties were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CDP. Metis Global Partners LLC increased its holdings in shares of COPT Defense Properties by 31.4% in the 3rd quarter. Metis Global Partners LLC now owns 11,577 shares of the company's stock valued at $351,000 after acquiring an additional 2,764 shares during the last quarter. KBC Group NV boosted its holdings in COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company's stock valued at $116,000 after purchasing an additional 840 shares in the last quarter. GSA Capital Partners LLP purchased a new position in COPT Defense Properties in the third quarter valued at approximately $2,558,000. Los Angeles Capital Management LLC acquired a new stake in COPT Defense Properties during the third quarter worth approximately $252,000. Finally, Meritage Portfolio Management purchased a new stake in shares of COPT Defense Properties during the 3rd quarter worth approximately $543,000.

COPT Defense Properties Trading Down 0.5 %

Shares of CDP stock opened at $29.91 on Friday. The company has a market capitalization of $3.37 billion, a P/E ratio of 24.52 and a beta of 0.98. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The business's 50 day moving average is $31.20 and its two-hundred day moving average is $28.03. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (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 during the quarter, compared to analyst estimates of $167.37 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.95%. COPT Defense Properties's payout ratio is currently 96.72%.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the transaction, the chief operating officer now owns 2,000 shares of the company's stock, valued at approximately $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. 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. JPMorgan Chase & Co. lifted 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. Evercore ISI boosted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Truist Financial raised 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. Finally, Wells Fargo & Company reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.86.

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.