805,086 Shares in COPT Defense Properties (NYSE:CDP) Bought by Clearbridge Investments LLC

Clearbridge Investments LLC bought a new position in COPT Defense Properties (NYSE:CDP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 805,086 shares of the company’s stock, valued at approximately $19,459,000. Clearbridge Investments LLC owned 0.71% of COPT Defense Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of COPT Defense Properties during the 1st quarter worth about $407,496,000. Sei Investments Co. bought a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $43,731,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of COPT Defense Properties in the first quarter worth $21,211,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in COPT Defense Properties during the first quarter worth $13,958,000. Finally, Leeward Investments LLC MA acquired a new position in COPT Defense Properties during the 1st quarter valued at $13,350,000.

COPT Defense Properties Price Performance

Shares of CDP stock traded down $0.28 during mid-day trading on Wednesday, reaching $27.23. The company’s stock had a trading volume of 723,590 shares, compared to its average volume of 847,473. The firm’s 50-day moving average is $25.01 and its two-hundred day moving average is $24.39. The company has a market cap of $3.07 billion, a P/E ratio of -25.48, a PEG ratio of 2.60 and a beta of 0.98. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $27.92. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.66 and a current ratio of 3.66.

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Friday, June 28th. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

Analysts Set New Price Targets

Separately, Wedbush reiterated an “outperform” rating and issued a $28.00 target price (up previously from $27.00) on shares of COPT Defense Properties in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.