Edgestream Partners L.P. Increases Stock Position in COPT Defense Properties (NYSE:CDP)

Edgestream Partners L.P. boosted its position in COPT Defense Properties (NYSE:CDP - Free Report) by 67.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 211,468 shares of the company's stock after purchasing an additional 84,985 shares during the period. Edgestream Partners L.P. owned about 0.19% of COPT Defense Properties worth $5,767,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CDP. Alliancebernstein L.P. raised its holdings in COPT Defense Properties by 813.0% in the 4th quarter. Alliancebernstein L.P. now owns 6,247,854 shares of the company's stock valued at $193,371,000 after acquiring an additional 5,563,548 shares during the period. Norges Bank bought a new position in COPT Defense Properties in the fourth quarter valued at approximately $45,718,000. JPMorgan Chase & Co. boosted its position in COPT Defense Properties by 21.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,283,383 shares of the company's stock valued at $101,621,000 after buying an additional 590,051 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in COPT Defense Properties in the fourth quarter valued at approximately $16,063,000. Finally, FMR LLC lifted its holdings in shares of COPT Defense Properties by 12.2% during the fourth quarter. FMR LLC now owns 3,099,052 shares of the company's stock worth $95,916,000 after purchasing an additional 335,775 shares during the period.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered 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 note on Monday, May 19th. 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 has an average rating of "Moderate Buy" and a consensus price target of $33.14.

COPT Defense Properties Stock Down 0.5%

CDP traded down $0.13 during midday trading on Friday, hitting $27.91. The company had a trading volume of 223,914 shares, compared to its average volume of 966,112. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 1.57. The stock's 50 day moving average price is $27.87 and its 200 day moving average price is $27.71. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 22.34 and a beta of 0.87. COPT Defense Properties has a 52 week low of $23.92 and a 52 week high of $34.22.

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, hitting the consensus estimate of $0.65. COPT Defense Properties had a net margin of 18.86% and a return on equity of 9.19%. The business had revenue of $187.86 million for the quarter, compared to analysts' expectations of $186.37 million. During the same period in the previous year, the company earned $0.62 earnings per share. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Monday, June 30th were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, June 30th. COPT Defense Properties's dividend payout ratio is currently 97.60%.

Insider Buying and Selling at COPT Defense Properties

In related news, Director Robert L. Denton sold 4,398 shares of the company'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 transaction of $117,426.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is owned by corporate 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.