Oppenheimer Asset Management Inc. Sells 562 Shares of COPT Defense Properties (NYSE:CDP)

Oppenheimer Asset Management Inc. lowered its position in COPT Defense Properties (NYSE:CDP) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,044 shares of the company’s stock after selling 562 shares during the period. Oppenheimer Asset Management Inc.’s holdings in COPT Defense Properties were worth $911,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CDP. SG Americas Securities LLC purchased a new stake in shares of COPT Defense Properties in the 1st quarter worth approximately $324,000. Russell Investments Group Ltd. purchased a new stake in shares of COPT Defense Properties in the 1st quarter worth approximately $2,498,000. ProShare Advisors LLC purchased a new stake in shares of COPT Defense Properties in the 1st quarter worth approximately $622,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of COPT Defense Properties in the 1st quarter worth approximately $1,446,000. Finally, Vanguard Group Inc. purchased a new stake in shares of COPT Defense Properties in the 1st quarter worth approximately $407,496,000.

Insider Transactions at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the firm’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 acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CDP shares. Truist Financial upped their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Wells Fargo & Company cut their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Wedbush increased their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased 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. Finally, Evercore ISI increased their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.86.

COPT Defense Properties Stock Performance

CDP stock opened at $29.84 on Tuesday. The company has a market cap of $3.36 billion, a P/E ratio of 24.46 and a beta of 0.98. 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’s fifty day moving average price is $31.22 and its 200-day moving average price is $28.09.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (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 analysts’ expectations of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.95%. 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.