Fort Washington Investment Advisors Inc. OH Decreases Stock Holdings in COPT Defense Properties (NYSE:CDP)

Fort Washington Investment Advisors Inc. OH reduced its holdings in COPT Defense Properties (NYSE:CDP - Free Report) by 23.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 830,507 shares of the company's stock after selling 255,687 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.74% of COPT Defense Properties worth $20,788,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in COPT Defense Properties in the first quarter worth about $36,000. Heritage Wealth Advisors bought a new position in shares of COPT Defense Properties in the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY purchased a new position in shares of COPT Defense Properties in the 2nd quarter valued at approximately $50,000. Bessemer Group Inc. bought a new stake in shares of COPT Defense Properties during the first quarter valued at approximately $100,000. Finally, Lazard Asset Management LLC purchased a new stake in COPT Defense Properties in the first quarter worth $102,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CDP. Evercore ISI boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday. Truist Financial lifted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a report on Thursday. Finally, Wedbush upped their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, COPT Defense Properties currently has a consensus rating of "Moderate Buy" and an average target price of $29.50.

COPT Defense Properties Stock Down 0.1 %

CDP traded down $0.04 during trading on Friday, hitting $29.79. 835,622 shares of the company's stock traded hands, compared to its average volume of 834,282. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -27.58, a PEG ratio of 2.72 and a beta of 0.98. The company's 50 day simple moving average is $27.46 and its two-hundred day simple moving average is $25.24. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $30.05. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company had revenue of $187.34 million for the quarter, compared to the consensus estimate of $166.11 million. During the same quarter last year, the company earned $0.60 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Analysts predict that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties's dividend payout ratio (DPR) is presently -109.26%.

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.