Northern Trust Corp Cuts Stock Holdings in COPT Defense Properties $CDP

Key Points

• Northern Trust Corp reduced its holdings in COPT Defense Properties by 1.9%, now owning approximately 1.51% of the company, worth $46.5 million.
• Wells Fargo & Company has lowered its price target for COPT Defense Properties from $36.00 to $30.00 while maintaining an "overweight" rating.
• COPT Defense Properties announced a quarterly dividend of $0.305 per share, with an annualized yield of 4.2%, scheduled to be paid on October 16th.

Northern Trust Corp reduced its holdings in COPT Defense Properties (NYSE:CDP - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,704,722 shares of the company's stock after selling 33,093 shares during the quarter. Northern Trust Corp owned about 1.51% of COPT Defense Properties worth $46,488,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CDP. UMB Bank n.a. increased its holdings in COPT Defense Properties by 321.7% in the first quarter. UMB Bank n.a. now owns 1,071 shares of the company's stock worth $29,000 after purchasing an additional 817 shares in the last quarter. Brooklyn Investment Group grew its stake in COPT Defense Properties by 9,030.4% in the first quarter. Brooklyn Investment Group now owns 2,100 shares of the company's stock valued at $57,000 after acquiring an additional 2,077 shares during the period. GF Fund Management CO. LTD. acquired a new stake in COPT Defense Properties in the fourth quarter valued at approximately $63,000. Headlands Technologies LLC acquired a new stake in COPT Defense Properties in the first quarter valued at approximately $74,000. Finally, US Bancorp DE grew its stake in COPT Defense Properties by 114.0% in the first quarter. US Bancorp DE now owns 3,770 shares of the company's stock valued at $103,000 after acquiring an additional 2,008 shares during the period.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price objective on COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, COPT Defense Properties currently has an average rating of "Moderate Buy" and a consensus target price of $33.17.

COPT Defense Properties Stock Up 0.9%

COPT Defense Properties stock traded up $0.27 during mid-day trading on Tuesday, reaching $29.05. The stock had a trading volume of 1,468,943 shares, compared to its average volume of 805,544. The firm has a market capitalization of $3.28 billion, a PE ratio of 22.70 and a beta of 0.93. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.96 and a current ratio of 2.96. COPT Defense Properties has a fifty-two week low of $23.92 and a fifty-two week high of $34.22. The stock's 50-day simple moving average is $28.09 and its 200-day simple moving average is $27.37.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $175.60 million for the quarter, compared to analysts' expectations of $186.55 million. COPT Defense Properties had a return on equity of 9.38% and a net margin of 19.23%.COPT Defense Properties's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. COPT Defense Properties has set its Q3 2025 guidance at 0.660-0.680 EPS. FY 2025 guidance at 2.650-2.690 EPS. On average, sell-side analysts forecast that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.22 annualized dividend and a dividend yield of 4.2%. COPT Defense Properties's payout ratio is presently 95.31%.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.