Peapack Gladstone Financial Corp Sells 639 Shares of COPT Defense Properties (NYSE:CDP)

Peapack Gladstone Financial Corp trimmed its holdings in COPT Defense Properties (NYSE:CDP) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,465 shares of the company’s stock after selling 639 shares during the period. Peapack Gladstone Financial Corp owned 0.08% of COPT Defense Properties worth $2,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CDP. Millennium Management LLC lifted its holdings in COPT Defense Properties by 65.3% during the 2nd 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 during the last quarter. Principal Financial Group Inc. lifted its stake 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of COPT Defense Properties by 404.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 792,728 shares of the company’s stock worth $24,043,000 after buying an additional 635,705 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in 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 valued at $17,327,000 after buying an additional 564,794 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in COPT Defense Properties by 315.1% in the 2nd 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 during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CDP. JPMorgan Chase & Co. upped their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. BTIG Research lifted their target price on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Truist Financial upped their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, COPT Defense Properties presently has an average rating of “Moderate Buy” and an average target price of $32.00.

COPT Defense Properties Stock Down 0.4 %

CDP stock opened at $32.50 on Friday. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The business has a 50-day simple moving average of $31.96 and a 200 day simple moving average of $29.10. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The company has a market cap of $3.66 billion, a PE ratio of 26.64 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data 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 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 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.63%. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

About COPT Defense Properties

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.