COPT Defense Properties (NYSE:CDP) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 641,872 shares of the company's stock after selling 50,389 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.57% of COPT Defense Properties worth $19,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDP. SG Americas Securities LLC acquired a new stake in shares of COPT Defense Properties in the first quarter valued at about $324,000. Swiss National Bank acquired a new stake in shares of COPT Defense Properties in the first quarter valued at about $5,361,000. Russell Investments Group Ltd. acquired a new stake in shares of COPT Defense Properties in the first quarter valued at about $2,498,000. ProShare Advisors LLC acquired a new stake in shares of COPT Defense Properties in the first quarter valued at about $622,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of COPT Defense Properties in the first quarter valued at about $1,446,000.

Analyst Ratings Changes

A number of research firms have recently issued reports on CDP. Evercore ISI increased their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Wells Fargo & Company reduced their price target on COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Wednesday, September 11th. Wedbush increased their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Finally, Truist Financial increased their price target on COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.86.

Insider Buying and Selling

In related news, COO Britt A. Snider purchased 1,000 shares of the business's stock in a transaction that occurred 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 owns 2,000 shares in the company, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.06% of the company's stock.

COPT Defense Properties Stock Performance

NYSE:CDP traded down $0.07 during trading hours on Monday, reaching $29.84. 964,414 shares of the stock were exchanged, compared to its average volume of 856,063. 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 firm has a 50 day simple moving average of $31.22 and a 200-day simple moving average of $28.09. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The stock has a market capitalization of $3.36 billion, a P/E ratio of 24.46 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.32). The firm had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. As a group, sell-side analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties's dividend payout ratio (DPR) is 96.72%.

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.