723,753 Shares in COPT Defense Properties (NYSE:CDP) Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. invested approximately $19.74 million in COPT Defense Properties, acquiring 723,753 shares during the first quarter.
• Wells Fargo & Company lowered their price target on COPT Defense Properties from $36.00 to $30.00, while still maintaining an "overweight" rating.
• COPT Defense Properties announced a quarterly dividend of $0.305 per share, resulting in an annualized yield of 4.5% and a payout ratio of 95.31%.

Jupiter Asset Management Ltd. bought a new position in COPT Defense Properties (NYSE:CDP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 723,753 shares of the company's stock, valued at approximately $19,737,000. Jupiter Asset Management Ltd. owned approximately 0.64% of COPT Defense Properties at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CDP. Norges Bank purchased a new stake in shares of COPT Defense Properties in the fourth quarter worth about $45,718,000. Raymond James Financial Inc. purchased a new stake in shares of COPT Defense Properties in the fourth quarter worth about $16,063,000. FMR LLC lifted its position in shares of COPT Defense Properties by 12.2% in the fourth quarter. FMR LLC now owns 3,099,052 shares of the company's stock worth $95,916,000 after buying an additional 335,775 shares in the last quarter. Northern Trust Corp raised its position in COPT Defense Properties by 19.4% during the fourth quarter. Northern Trust Corp now owns 1,737,815 shares of the company's stock valued at $53,785,000 after purchasing an additional 281,834 shares during the period. Finally, AQR Capital Management LLC raised its position in COPT Defense Properties by 32.5% during the fourth quarter. AQR Capital Management LLC now owns 1,103,627 shares of the company's stock valued at $33,981,000 after purchasing an additional 270,508 shares during the period.

Insider Buying and Selling at COPT Defense Properties

In other news, Director Robert L. Denton sold 4,398 shares of the stock in a transaction that occurred on 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 filing with the SEC, which is available through this hyperlink. Insiders own 1.42% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price objective on COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.17.

COPT Defense Properties Trading Up 0.1%

CDP stock traded up $0.04 during midday trading on Thursday, reaching $28.30. 110,638 shares of the company traded hands, compared to its average volume of 948,677. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.96 and a current ratio of 2.96. The business has a 50 day moving average of $28.06 and a 200-day moving average of $27.50. COPT Defense Properties has a 52-week low of $23.92 and a 52-week high of $34.22. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 22.11 and a beta of 0.87.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. COPT Defense Properties had a return on equity of 9.38% and a net margin of 19.23%. The firm had revenue of $175.60 million for the quarter, compared to the consensus estimate of $186.55 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Monday, June 30th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, June 30th. COPT Defense Properties's dividend payout ratio is presently 95.31%.

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.