Sheaff Brock Investment Advisors LLC Reduces Holdings in COPT Defense Properties (NYSE:CDP)

Sheaff Brock Investment Advisors LLC lowered its position in COPT Defense Properties (NYSE:CDP) by 1.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,104 shares of the company’s stock after selling 555 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in COPT Defense Properties were worth $1,368,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in shares of COPT Defense Properties by 31.4% in the third quarter. Metis Global Partners LLC now owns 11,577 shares of the company’s stock worth $351,000 after purchasing an additional 2,764 shares in the last quarter. KBC Group NV grew its stake in COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after buying an additional 840 shares in the last quarter. GSA Capital Partners LLP bought a new stake in COPT Defense Properties during the 3rd quarter valued at $2,558,000. Los Angeles Capital Management LLC purchased a new stake in shares of COPT Defense Properties during the third quarter worth $252,000. Finally, Meritage Portfolio Management purchased a new stake in shares of COPT Defense Properties during the third quarter worth $543,000.

Insider Buying and Selling at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial increased their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Evercore ISI increased their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company decreased 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 report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, COPT Defense Properties has an average rating of “Moderate Buy” and a consensus price target of $30.86.

COPT Defense Properties Trading Down 0.5 %

NYSE CDP opened at $29.91 on Friday. 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 stock’s 50-day simple moving average is $31.20 and its two-hundred day simple moving average is $28.00. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 24.52 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced 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 firm had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts forecast that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 3.95%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) 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.