Millennium Management LLC Lowers Stock Position in COPT Defense Properties (NYSE:CDP)

Millennium Management LLC trimmed its position in COPT Defense Properties (NYSE:CDP - Free Report) by 60.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,027,390 shares of the company's stock after selling 1,591,850 shares during the quarter. Millennium Management LLC owned approximately 0.91% of COPT Defense Properties worth $31,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of COPT Defense Properties in the fourth quarter worth about $16,063,000. KBC Group NV lifted its holdings in shares of COPT Defense Properties by 33.4% in the fourth quarter. KBC Group NV now owns 5,081 shares of the company's stock worth $157,000 after buying an additional 1,271 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in COPT Defense Properties by 192.9% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company's stock valued at $35,847,000 after purchasing an additional 762,840 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in COPT Defense Properties in the fourth quarter valued at approximately $1,397,000. Finally, Frontier Capital Management Co. LLC raised its stake in 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 purchasing an additional 5,031 shares in the last quarter.

COPT Defense Properties Price Performance

Shares of CDP stock traded down $0.00 during trading hours on Friday, hitting $26.98. 756,776 shares of the company's stock were exchanged, compared to its average volume of 934,265. The company has a market capitalization of $3.05 billion, a PE ratio of 21.93 and a beta of 0.86. COPT Defense Properties has a 12-month low of $23.47 and a 12-month high of $34.22. The business's 50 day simple moving average is $26.52 and its 200-day simple moving average is $28.68. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.65 EPS for the quarter, hitting the consensus estimate 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 revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. On average, equities research analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, June 30th. COPT Defense Properties's dividend payout ratio (DPR) is presently 97.60%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CDP shares. Wells Fargo & Company lowered their target price 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. Jefferies Financial Group started coverage on shares of COPT Defense Properties in a research note on Monday, March 17th. They issued a "buy" rating and a $31.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.14.

COPT Defense Properties Company 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.