COPT Defense Properties (NYSE:CDP) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in COPT Defense Properties (NYSE:CDP - Free Report) by 82.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,874 shares of the company's stock after purchasing an additional 17,553 shares during the quarter. Intech Investment Management LLC's holdings in COPT Defense Properties were worth $1,179,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CDP. Millennium Management LLC increased its holdings in shares of COPT Defense Properties by 65.3% during the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company's stock valued at $81,948,000 after acquiring an additional 1,293,761 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of COPT Defense Properties by 179.5% during the second quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company's stock valued at $29,807,000 after acquiring an additional 764,859 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of COPT Defense Properties by 443.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,261 shares of the company's stock valued at $17,327,000 after acquiring an additional 564,794 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of COPT Defense Properties by 315.1% during the second quarter. AQR Capital Management LLC now owns 567,997 shares of the company's stock valued at $13,978,000 after acquiring an additional 431,173 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of COPT Defense Properties by 72.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 876,366 shares of the company's stock valued at $26,580,000 after acquiring an additional 367,969 shares in the last quarter.

Insider Activity

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost 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 in the company, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.06% of the company's stock.

COPT Defense Properties Stock Performance

COPT Defense Properties stock traded up $0.13 during mid-day trading on Wednesday, hitting $32.83. The company had a trading volume of 864,750 shares, compared to its average volume of 875,188. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22. The company's fifty day moving average is $31.47 and its 200-day moving average is $28.42. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 26.91 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its 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 net margin of 18.34% and a return on equity of 8.99%. The business had revenue of $189.23 million for the quarter, compared to analysts' expectations of $167.37 million. During the same quarter last year, the business earned $0.60 EPS. The company's quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.59%. COPT Defense Properties's dividend payout ratio (DPR) is 96.72%.

Analyst Upgrades and Downgrades

CDP has been the topic of a number of recent research reports. Truist Financial upped their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Wells Fargo & Company dropped their target price on COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 11th. Finally, BTIG Research upped their target price on COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.75.

About COPT Defense Properties

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.