Millennium Management LLC Decreases Holdings in COPT Defense Properties (NYSE:CDP)

Millennium Management LLC lowered its position in COPT Defense Properties (NYSE:CDP - Free Report) by 60.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,027,390 shares of the company's stock after selling 1,591,850 shares during the period. Millennium Management LLC owned 0.91% of COPT Defense Properties worth $31,798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of COPT Defense Properties during the fourth quarter worth approximately $16,063,000. KBC Group NV increased its stake in COPT Defense Properties by 33.4% during the 4th quarter. KBC Group NV now owns 5,081 shares of the company's stock valued at $157,000 after purchasing an additional 1,271 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in COPT Defense Properties by 192.9% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company's stock worth $35,847,000 after buying an additional 762,840 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in COPT Defense Properties during the fourth quarter worth $1,397,000. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of COPT Defense Properties by 0.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,359,335 shares of the company's stock valued at $42,071,000 after buying an additional 5,031 shares in the last quarter.

Insider Activity

In related news, Director Robert L. Denton sold 4,398 shares of COPT Defense Properties stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $26.70, for a total transaction of $117,426.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

COPT Defense Properties Stock Up 0.1%

CDP traded up $0.03 during mid-day trading on Thursday, reaching $26.99. 1,411,749 shares of the stock were exchanged, compared to its average volume of 930,678. COPT Defense Properties has a 1 year low of $23.47 and a 1 year high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. The stock has a market capitalization of $3.05 billion, a PE ratio of 21.95 and a beta of 0.86. The company has a 50 day moving average price of $26.53 and a two-hundred day moving average price of $28.78.

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

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Monday, June 30th will be paid a $0.305 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.52%. COPT Defense Properties's payout ratio is presently 97.60%.

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.