Victory Capital Management Inc. reduced its stake in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,080,153 shares of the company's stock after selling 122,437 shares during the quarter. Victory Capital Management Inc. owned 3.62% of COPT Defense Properties worth $123,751,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in COPT Defense Properties during the 1st quarter worth approximately $2,498,000. Swiss National Bank bought a new position in shares of COPT Defense Properties in the first quarter worth approximately $5,361,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of COPT Defense Properties in the first quarter worth $13,958,000. Price T Rowe Associates Inc. MD bought a new stake in COPT Defense Properties during the 1st quarter valued at $1,702,000. Finally, Centersquare Investment Management LLC purchased a new stake in COPT Defense Properties during the 1st quarter valued at $1,279,000.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CDP. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company lowered their price target on COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Wednesday, September 11th. Evercore ISI lifted their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Wedbush boosted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Finally, Truist Financial raised their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a "hold" rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.86.
Check Out Our Latest Stock Report on COPT Defense Properties
Insider Buying and Selling
In other news, COO Britt A. Snider bought 1,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the acquisition, the chief operating officer now owns 2,000 shares of the company's stock, valued at approximately $58,820. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is currently owned by company insiders.
COPT Defense Properties Stock Down 2.1 %
CDP traded down $0.66 during trading on Wednesday, reaching $31.09. The stock had a trading volume of 1,050,936 shares, compared to its average volume of 844,561. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 25.82 and a beta of 0.98. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock's 50 day moving average is $31.14 and its two-hundred day moving average is $27.92.
COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings data 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 net margin of 18.34% and a return on equity of 8.99%. The company had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. During the same period last year, the business earned $0.60 EPS. The firm's quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current year.
About COPT Defense Properties
(
Free Report)
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.
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