Waterfront Capital Partners LLC Trims Stock Position in COPT Defense Properties (NYSE:CDP)

Waterfront Capital Partners LLC decreased its stake in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 16.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,443 shares of the company's stock after selling 98,654 shares during the quarter. COPT Defense Properties makes up 2.1% of Waterfront Capital Partners LLC's portfolio, making the stock its 19th largest position. Waterfront Capital Partners LLC owned 0.44% of COPT Defense Properties worth $14,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CDP. Millennium Management LLC raised its stake in shares of COPT Defense Properties by 65.3% during the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company's stock valued at $81,948,000 after acquiring an additional 1,293,761 shares in the last quarter. FMR LLC increased its holdings in COPT Defense Properties by 1.8% during the 3rd quarter. FMR LLC now owns 2,763,277 shares of the company's stock worth $83,810,000 after purchasing an additional 49,300 shares during the period. Charles Schwab Investment Management Inc. raised its position in COPT Defense Properties by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company's stock valued at $76,521,000 after purchasing an additional 18,770 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of COPT Defense Properties by 9.6% in the 2nd quarter. Sei Investments Co. now owns 1,983,526 shares of the company's stock worth $49,648,000 after buying an additional 174,206 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of COPT Defense Properties by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,630,799 shares of the company's stock worth $40,818,000 after buying an additional 69,656 shares in the last quarter.

Insider Activity

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.06% of the company's stock.

COPT Defense Properties Stock Up 0.4 %

Shares of COPT Defense Properties stock traded up $0.13 during trading on Friday, reaching $32.96. The company's stock had a trading volume of 1,104,899 shares, compared to its average volume of 876,182. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22. The company has a 50-day simple moving average of $31.58 and a two-hundred day simple moving average of $28.51. 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 company has a market cap of $3.71 billion, a price-to-earnings ratio of 27.02 and a beta of 0.98.

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

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.58%. COPT Defense Properties's payout ratio is currently 96.72%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CDP shares. Wedbush lifted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Evercore ISI upped their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. BTIG Research increased their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company lowered their target price 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. Finally, Truist Financial lifted 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.75.

COPT Defense Properties 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.