Connable Office Inc. Sells 3,433 Shares of COPT Defense Properties (NYSE:CDP)

Connable Office Inc. decreased its position in shares of COPT Defense Properties (NYSE:CDP) by 27.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,225 shares of the company’s stock after selling 3,433 shares during the quarter. Connable Office Inc.’s holdings in COPT Defense Properties were worth $231,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CDP. Russell Investments Group Ltd. purchased a new position in COPT Defense Properties in the first quarter valued at about $2,498,000. Swiss National Bank purchased a new position in shares of COPT Defense Properties in the 1st quarter worth approximately $5,361,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of COPT Defense Properties during the 1st quarter worth approximately $3,081,000. Leeward Investments LLC MA purchased a new stake in COPT Defense Properties during the first quarter valued at approximately $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in COPT Defense Properties during the first quarter valued at approximately $13,958,000.

Wall Street Analyst Weigh In

CDP has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on COPT Defense Properties from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. raised their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wedbush upped their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial lifted their target price on shares of 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.13.

COPT Defense Properties Trading Up 0.4 %

COPT Defense Properties stock opened at $29.20 on Tuesday. The stock has a 50-day moving average price of $28.00 and a 200 day moving average price of $25.47. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -27.04, a price-to-earnings-growth ratio of 2.76 and a beta of 0.99. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $30.05. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). The business had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

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.