COPT Defense Properties (NYSE:CDP) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in COPT Defense Properties (NYSE:CDP) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,732 shares of the company’s stock after selling 1,064 shares during the quarter. MetLife Investment Management LLC owned approximately 0.11% of COPT Defense Properties worth $3,753,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC grew its position in shares of COPT Defense Properties by 1.4% during the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after buying an additional 475 shares during the last quarter. Fifth Third Bancorp boosted its position in COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after purchasing an additional 574 shares during the period. Arizona State Retirement System grew its stake in COPT Defense Properties by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after buying an additional 578 shares during the last quarter. Carmel Capital Partners LLC increased its position in COPT Defense Properties by 3.5% in the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after buying an additional 584 shares during the period. Finally, Presima Securities ULC lifted its stake in COPT Defense Properties by 1.3% in the third quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock valued at $1,832,000 after buying an additional 800 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CDP. JPMorgan Chase & Co. upped 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 report on Wednesday, September 4th. Wedbush raised their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Truist Financial boosted their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Evercore ISI raised their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, BTIG Research lifted their target price on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, COPT Defense Properties presently has an average rating of “Moderate Buy” and a consensus price target of $31.75.

Insider Activity

In other news, COO Britt A. Snider purchased 1,000 shares of COPT Defense Properties stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the transaction, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.06% of the company’s stock.

COPT Defense Properties Stock Down 1.7 %

CDP opened at $32.40 on Tuesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $3.65 billion, a PE ratio of 26.56 and a beta of 0.98. The stock’s fifty day moving average is $31.58 and its 200-day moving average is $28.56. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22.

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 the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. During the same quarter last year, the firm posted $0.60 earnings per share. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.64%. COPT Defense Properties’s dividend payout ratio 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.