COPT Defense Properties (NYSE:CDP) Shares Acquired by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its holdings in COPT Defense Properties (NYSE:CDP) by 25.7%, owning approximately 3.21% of the company, which is valued at about $98.9 million.
• Wells Fargo lowered its price target for COPT Defense Properties from $36.00 to $30.00 while maintaining an "overweight" rating, with a consensus price target of $33.14.
• COPT Defense Properties declared a quarterly dividend of $0.305 per share, resulting in an annualized yield of 4.4% and a high payout ratio of 95.31%.

Westwood Holdings Group Inc. boosted its holdings in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 25.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,627,108 shares of the company's stock after buying an additional 741,765 shares during the period. COPT Defense Properties makes up 0.7% of Westwood Holdings Group Inc.'s holdings, making the stock its 28th largest position. Westwood Holdings Group Inc. owned approximately 3.21% of COPT Defense Properties worth $98,911,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. FIL Ltd lifted its position in shares of COPT Defense Properties by 17.8% in the fourth quarter. FIL Ltd now owns 2,591 shares of the company's stock valued at $80,000 after acquiring an additional 391 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in COPT Defense Properties by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 16,600 shares of the company's stock worth $515,000 after acquiring an additional 635 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in shares of COPT Defense Properties by 10.7% in the first quarter. Central Pacific Bank Trust Division now owns 6,854 shares of the company's stock valued at $187,000 after buying an additional 660 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of COPT Defense Properties by 6.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,651 shares of the company's stock valued at $423,000 after buying an additional 813 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of COPT Defense Properties by 321.7% in the first quarter. UMB Bank n.a. now owns 1,071 shares of the company's stock valued at $29,000 after buying an additional 817 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their target price 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.17.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock traded down $0.12 on Thursday, hitting $28.14. The stock had a trading volume of 1,043,515 shares, compared to its average volume of 799,568. COPT Defense Properties has a 52-week low of $23.92 and a 52-week high of $34.22. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.58. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 21.98 and a beta of 0.87. The company's 50 day moving average price is $28.08 and its 200 day moving average price is $27.49.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $175.60 million during 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%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. On average, research analysts anticipate that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Monday, June 30th were issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, June 30th. COPT Defense Properties's payout ratio is 95.31%.

Insider Buying and Selling at COPT Defense Properties

In other news, Director Robert L. Denton sold 4,398 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $26.70, for a total value of $117,426.60. The sale was disclosed in a filing with the SEC, which is available through this link. 1.42% of the stock is currently owned by company insiders.

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.