State Street Corp Decreases Stock Position in COPT Defense Properties (NYSE:CDP)

State Street Corp lessened its holdings in COPT Defense Properties (NYSE:CDP - Free Report) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,302,327 shares of the company's stock after selling 70,159 shares during the period. State Street Corp owned about 5.59% of COPT Defense Properties worth $193,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in COPT Defense Properties by 173.3% during the second quarter. SG Americas Securities LLC now owns 36,678 shares of the company's stock valued at $918,000 after purchasing an additional 23,257 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in COPT Defense Properties by 18.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,742 shares of the company's stock worth $394,000 after acquiring an additional 2,421 shares in the last quarter. Blue Trust Inc. increased its holdings in COPT Defense Properties by 37.4% in the 2nd quarter. Blue Trust Inc. now owns 9,117 shares of the company's stock worth $220,000 after acquiring an additional 2,483 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in COPT Defense Properties by 443.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,261 shares of the company's stock worth $17,327,000 after acquiring an additional 564,794 shares during the period. Finally, Leeward Investments LLC MA lifted its holdings in COPT Defense Properties by 5.6% during the second quarter. Leeward Investments LLC MA now owns 583,391 shares of the company's stock valued at $14,602,000 after purchasing an additional 31,072 shares in the last quarter.

COPT Defense Properties Price Performance

Shares of CDP traded down $0.13 during mid-day trading on Friday, hitting $32.50. 736,931 shares of the stock were exchanged, compared to its average volume of 886,439. The firm has a 50-day moving average of $31.96 and a two-hundred day moving average of $29.07. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market cap of $3.66 billion, a PE ratio of 26.64 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly 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 period in the previous year, the company earned $0.60 EPS. COPT Defense Properties's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts predict that COPT Defense Properties will post 2.58 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties's payout ratio is 96.72%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDP. Wells Fargo & Company lowered their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 11th. BTIG Research increased their target price on COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Truist Financial boosted their price target on COPT Defense Properties from $31.00 to $33.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Evercore ISI increased their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, 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 research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, COPT Defense Properties has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

COPT Defense Properties Company 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.