Martingale Asset Management L P Makes New $3.16 Million Investment in COPT Defense Properties (NYSE:CDP)

Martingale Asset Management L P acquired a new position in COPT Defense Properties (NYSE:CDP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 104,038 shares of the company’s stock, valued at approximately $3,155,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spirit of America Management Corp NY acquired a new stake in COPT Defense Properties in the 2nd quarter worth about $50,000. Quarry LP raised its stake in COPT Defense Properties by 711.4% in the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after purchasing an additional 3,052 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in COPT Defense Properties in the 1st quarter worth about $102,000. KBC Group NV raised 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 worth $116,000 after purchasing an additional 840 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of COPT Defense Properties by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock valued at $134,000 after buying an additional 1,130 shares in the last quarter.

COPT Defense Properties Price Performance

CDP stock opened at $32.96 on Friday. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22. 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 cap of $3.71 billion, a price-to-earnings ratio of 27.02 and a beta of 0.98. The company has a 50 day simple moving average of $31.58 and a 200 day simple moving average of $28.51.

COPT Defense Properties (NYSE:CDP) last posted its earnings results 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 return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. Research analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s payout ratio is 96.72%.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of COPT Defense Properties stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at $58,820. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

CDP has been the subject of several analyst reports. BTIG Research boosted their target price on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial boosted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company dropped their target price on shares of 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. Wedbush boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Evercore ISI boosted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.75.

About COPT Defense Properties

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.