Point72 Asset Management L.P. Sells 17,300 Shares of COPT Defense Properties (NYSE:CDP)

Point72 Asset Management L.P. lowered its position in COPT Defense Properties (NYSE:CDP - Free Report) by 71.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,000 shares of the company's stock after selling 17,300 shares during the quarter. Point72 Asset Management L.P.'s holdings in COPT Defense Properties were worth $217,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FIL Ltd increased its holdings in COPT Defense Properties by 17.8% during the 4th quarter. FIL Ltd now owns 2,591 shares of the company's stock valued at $80,000 after purchasing an additional 391 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in COPT Defense Properties during the 4th quarter valued at $110,000. Spirit of America Management Corp NY increased its holdings in 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 purchasing an additional 1,000 shares in the last quarter. KBC Group NV increased its holdings 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. Finally, Landscape Capital Management L.L.C. acquired a new stake in COPT Defense Properties during the 4th quarter valued at $204,000.

Analysts Set New Price Targets

CDP has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on COPT Defense Properties in a report on Monday, March 17th. They set a "buy" rating and a $31.00 price target for the company. 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.14.

Insider Buying and Selling at COPT Defense Properties

In other news, Director Robert L. Denton sold 4,398 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. Insiders own 1.42% of the company's stock.

COPT Defense Properties Trading Up 0.2%

Shares of NYSE CDP traded up $0.05 during midday trading on Thursday, hitting $27.45. The stock had a trading volume of 413,792 shares, compared to its average volume of 934,324. The company's 50-day simple moving average is $26.55 and its 200 day simple moving average is $28.60. The firm has a market cap of $3.10 billion, a P/E ratio of 22.32 and a beta of 0.86. COPT Defense Properties has a fifty-two week low of $23.47 and a fifty-two week 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.

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

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.22 dividend on an annualized basis and a yield of 4.45%. COPT Defense Properties's payout ratio is 97.60%.

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.