COPT Defense Properties (NYSE:CDP) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in COPT Defense Properties (NYSE:CDP) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,522,955 shares of the company’s stock after acquiring an additional 18,770 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in COPT Defense Properties were worth $76,521,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of COPT Defense Properties by 65.3% during the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after purchasing an additional 1,293,761 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of COPT Defense Properties by 179.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock worth $29,807,000 after buying an additional 764,859 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of COPT Defense Properties by 443.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,261 shares of the company’s stock worth $17,327,000 after acquiring an additional 564,794 shares during the period. AQR Capital Management LLC boosted its holdings in shares of COPT Defense Properties by 315.1% in the second quarter. AQR Capital Management LLC now owns 567,997 shares of the company’s stock valued at $13,978,000 after acquiring an additional 431,173 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of COPT Defense Properties by 72.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 876,366 shares of the company’s stock valued at $26,580,000 after acquiring an additional 367,969 shares during the period.

COPT Defense Properties Price Performance

NYSE CDP opened at $32.83 on Thursday. 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 1 year low of $22.20 and a 1 year high of $34.22. The company has a market cap of $3.70 billion, a PE ratio of 26.91 and a beta of 0.98. The stock’s 50-day moving average price is $31.47 and its two-hundred day moving average price is $28.42.

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). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The firm had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.59%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CDP shares. Evercore ISI increased their price target 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. Truist Financial raised their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Wedbush boosted their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. BTIG Research raised their price objective 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. Finally, Wells Fargo & Company dropped their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $29.41 per share, with a total value of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

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.