Vident Advisory LLC Lowers Stock Position in COPT Defense Properties (NYSE:CDP)

Vident Advisory LLC trimmed its holdings in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,136 shares of the company's stock after selling 36,456 shares during the period. Vident Advisory LLC owned about 0.05% of COPT Defense Properties worth $1,830,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CDP. FIL Ltd raised its stake in COPT Defense Properties by 17.8% in the fourth quarter. FIL Ltd now owns 2,591 shares of the company's stock worth $80,000 after buying an additional 391 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in COPT Defense Properties by 4.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 16,600 shares of the company's stock worth $515,000 after purchasing an additional 635 shares during the last quarter. M&T Bank Corp boosted its stake in shares of COPT Defense Properties by 3.1% during the 4th quarter. M&T Bank Corp now owns 21,889 shares of the company's stock worth $677,000 after acquiring an additional 663 shares during the last quarter. Xponance Inc. boosted its stake in shares of COPT Defense Properties by 5.9% during the 4th quarter. Xponance Inc. now owns 16,157 shares of the company's stock worth $500,000 after acquiring an additional 905 shares during the last quarter. Finally, Spirit of America Management Corp NY lifted its stake in shares of COPT Defense Properties by 25.0% during the 4th quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company's stock valued at $155,000 after buying an additional 1,000 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on CDP. Jefferies Financial Group began coverage on shares of COPT Defense Properties in a research note on Monday, March 17th. They issued a "buy" rating and a $31.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, COPT Defense Properties presently has a consensus rating of "Moderate Buy" and an average price target of $33.14.

COPT Defense Properties Price Performance

Shares of COPT Defense Properties stock traded down $0.44 during trading hours on Wednesday, reaching $27.21. The company's stock had a trading volume of 128,118 shares, compared to its average volume of 931,753. The firm has a 50 day moving average price of $26.54 and a 200-day moving average price of $28.61. COPT Defense Properties has a one year low of $23.47 and a one year high of $34.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38. The stock has a market cap of $3.07 billion, a P/E ratio of 22.17 and a beta of 0.86.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.65 earnings per share for the quarter, hitting analysts' consensus estimates of $0.65. The firm had revenue of $187.86 million for the quarter, compared to the consensus estimate of $186.37 million. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. On average, analysts predict that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Monday, June 30th will be issued a dividend of $0.305 per share. The ex-dividend date is Monday, June 30th. This represents a $1.22 annualized dividend and a yield of 4.48%. COPT Defense Properties's payout ratio is 97.60%.

Insider Activity at COPT Defense Properties

In other COPT Defense Properties news, Director Robert L. Denton sold 4,398 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $26.70, for a total value of $117,426.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is currently owned by insiders.

COPT Defense Properties Profile

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.