Spirit of America Management Corp NY Increases Stake in COPT Defense Properties (NYSE:CDP)

Spirit of America Management Corp NY grew its stake in COPT Defense Properties (NYSE:CDP) by 100.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in COPT Defense Properties were worth $121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates lifted its stake in COPT Defense Properties by 4.3% during the third quarter. Raymond James & Associates now owns 209,766 shares of the company’s stock worth $6,362,000 after purchasing an additional 8,611 shares during the last quarter. Blue Trust Inc. lifted its stake in COPT Defense Properties by 53.8% during the third quarter. Blue Trust Inc. now owns 14,021 shares of the company’s stock worth $425,000 after purchasing an additional 4,904 shares during the last quarter. Presima Securities ULC lifted its stake in COPT Defense Properties by 1.3% during the third quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock worth $1,832,000 after purchasing an additional 800 shares during the last quarter. CWM LLC lifted its stake in COPT Defense Properties by 1.4% during the third quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in COPT Defense Properties by 36.1% during the third quarter. Handelsbanken Fonder AB now owns 39,981 shares of the company’s stock worth $1,213,000 after purchasing an additional 10,600 shares during the last quarter.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CDP. Evercore ISI boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company reduced 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 note on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial raised their price objective 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. Finally, Wedbush boosted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

COPT Defense Properties Stock Performance

CDP opened at $32.29 on Friday. The stock has a market cap of $3.64 billion, a P/E ratio of -29.90 and a beta of 0.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The stock’s 50 day simple moving average is $30.32 and its 200 day simple moving average is $27.01. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $32.51.

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

COPT Defense Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

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.