Wilmington Savings Fund Society FSB Purchases Shares of 3,000 COPT Defense Properties (NYSE:CDP)

Wilmington Savings Fund Society FSB purchased a new position in shares of COPT Defense Properties (NYSE:CDP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds have also recently modified their holdings of the company. Millennium Management LLC boosted its stake in COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after purchasing an additional 1,293,761 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of COPT Defense Properties by 179.5% in the second quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock worth $29,807,000 after buying an additional 764,859 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of COPT Defense Properties by 404.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 792,728 shares of the company’s stock worth $24,043,000 after buying an additional 635,705 shares during the period. AQR Capital Management LLC grew its holdings in shares of COPT Defense Properties by 315.1% during the second quarter. AQR Capital Management LLC now owns 567,997 shares of the company’s stock valued at $13,978,000 after buying an additional 431,173 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of COPT Defense Properties by 72.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 876,366 shares of the company’s stock valued at $26,580,000 after acquiring an additional 367,969 shares during the period.

Analysts Set New Price Targets

CDP has been the topic of several research analyst reports. Truist Financial boosted their price target on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Company dropped their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Evercore ISI raised 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 upped their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

COPT Defense Properties Price Performance

Shares of NYSE CDP opened at $31.11 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 25.50 and a beta of 0.98. The firm’s 50 day simple moving average is $32.01 and its 200-day simple moving average is $29.32. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. During the same quarter in the prior year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts expect that COPT Defense Properties will post 2.58 EPS for the current year.

COPT Defense Properties Dividend Announcement

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 paid a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.79%. COPT Defense Properties’s dividend payout ratio is presently 96.72%.

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.