Martingale Asset Management L P Buys New Position in COPT Defense Properties (NYSE:CDP)

Martingale Asset Management L P acquired a new position in shares of COPT Defense Properties (NYSE:CDP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 104,038 shares of the company's stock, valued at approximately $3,155,000. Martingale Asset Management L P owned approximately 0.09% of COPT Defense Properties at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Spirit of America Management Corp NY bought a new position in COPT Defense Properties in the second quarter worth approximately $50,000. Quarry LP grew its position in COPT Defense Properties by 711.4% in the 2nd quarter. Quarry LP now owns 3,481 shares of the company's stock valued at $87,000 after purchasing an additional 3,052 shares during the period. KBC Group NV grew its position in COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company's stock valued at $116,000 after purchasing an additional 840 shares during the period. Lazard Asset Management LLC bought a new stake in COPT Defense Properties during the 1st quarter valued at $102,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in COPT Defense Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company's stock worth $134,000 after buying an additional 1,130 shares during the last quarter.

Wall Street Analysts Forecast Growth

CDP has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective 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 boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Truist Financial raised their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, August 29th. Wells Fargo & Company cut 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, Evercore ISI increased their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.75.

Insider Buying and Selling

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction on 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 directly owns 2,000 shares of the company's stock, valued at $58,820. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by insiders.

COPT Defense Properties Stock Performance

CDP stock traded up $0.12 during midday trading on Friday, hitting $32.95. The company's stock had a trading volume of 1,104,899 shares, compared to its average volume of 876,182. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 27.01 and a beta of 0.98. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock's 50-day moving average price is $31.58 and its 200 day moving average price is $28.51. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share 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 company had revenue of $189.23 million during the quarter, compared to analysts' expectations of $167.37 million. During the same period last year, the firm posted $0.60 earnings per share. COPT Defense Properties's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently declared 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 of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.58%. COPT Defense Properties's payout ratio is currently 96.72%.

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.