Victory Capital Management Inc. Decreases Position in COPT Defense Properties (NYSE:CDP)

Victory Capital Management Inc. lowered its stake in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,202,590 shares of the company's stock after selling 89,720 shares during the period. Victory Capital Management Inc. owned approximately 3.73% of COPT Defense Properties worth $105,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDP. Russell Investments Group Ltd. bought a new stake in COPT Defense Properties in the 1st quarter valued at about $2,498,000. Swiss National Bank acquired a new position in shares of COPT Defense Properties during the first quarter worth approximately $5,361,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of COPT Defense Properties during the first quarter worth approximately $3,081,000. Leeward Investments LLC MA bought a new position in shares of COPT Defense Properties in the 1st quarter worth $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in COPT Defense Properties in the 1st quarter valued at $13,958,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday. Evercore ISI lifted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, August 30th. Truist Financial lifted 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. Finally, Wedbush increased their price target 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, COPT Defense Properties presently has a consensus rating of "Moderate Buy" and an average price target of $30.13.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP traded down $0.28 during midday trading on Friday, reaching $29.09. 502,003 shares of the company traded hands, compared to its average volume of 829,359. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -26.94, a price-to-earnings-growth ratio of 2.83 and a beta of 0.99. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $30.05. The firm's fifty day moving average price is $27.92 and its two-hundred day moving average price is $25.43.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The business had revenue of $187.34 million during the quarter, compared to analysts' expectations of $166.11 million. During the same quarter last year, the business posted $0.60 EPS. The company's quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties's payout ratio is currently -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.