Quest Partners LLC Sells 45,895 Shares of COPT Defense Properties (NYSE:CDP)

Quest Partners LLC lessened its holdings in COPT Defense Properties (NYSE:CDP) by 51.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,055 shares of the company’s stock after selling 45,895 shares during the quarter. Quest Partners LLC’s holdings in COPT Defense Properties were worth $1,306,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CDP. Spirit of America Management Corp NY bought a new position in COPT Defense Properties in the second quarter valued at approximately $50,000. Quarry LP grew its stake in shares of COPT Defense Properties by 711.4% during the second quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after purchasing an additional 3,052 shares during the period. Bessemer Group Inc. bought a new stake in COPT Defense Properties in the first quarter valued at about $100,000. Lazard Asset Management LLC acquired a new position in COPT Defense Properties in the first quarter valued at about $102,000. Finally, KBC Group NV boosted its holdings in COPT Defense Properties by 28.3% during the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after buying an additional 840 shares during the last quarter.

Insider Transactions at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company lowered their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Wedbush increased their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Truist Financial boosted their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Evercore ISI raised their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.86.

COPT Defense Properties Trading Up 1.9 %

CDP opened at $30.41 on Wednesday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 24.93 and a beta of 0.98. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The firm’s fifty day simple moving average is $31.24 and its 200 day simple moving average is $28.14.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, research analysts anticipate 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 given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is currently 96.72%.

COPT Defense Properties Company 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.