COPT Defense Properties (NYSE:CDP) Position Increased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in COPT Defense Properties by 881.4% in the first quarter, acquiring a total of 113,307 shares valued at approximately $3.09 million.
• COPT Defense Properties reported $0.68 earnings per share for the quarter, exceeding estimates, with year-over-year revenue growth of 1.4%, totaling $175.6 million.
• The company declared a quarterly dividend of $0.305, resulting in a 4.3% dividend yield and a significant payout ratio of 95.31%.

Ontario Teachers Pension Plan Board increased its position in COPT Defense Properties (NYSE:CDP - Free Report) by 881.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,307 shares of the company's stock after buying an additional 101,762 shares during the period. Ontario Teachers Pension Plan Board owned about 0.10% of COPT Defense Properties worth $3,090,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its holdings in COPT Defense Properties by 8.1% in the fourth quarter. American Century Companies Inc. now owns 21,328 shares of the company's stock valued at $660,000 after purchasing an additional 1,590 shares during the period. Franklin Resources Inc. raised its holdings in COPT Defense Properties by 357.8% in the fourth quarter. Franklin Resources Inc. now owns 84,789 shares of the company's stock valued at $2,624,000 after acquiring an additional 66,270 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in COPT Defense Properties in the fourth quarter valued at $204,000. Wells Fargo & Company MN raised its holdings in COPT Defense Properties by 13.4% in the fourth quarter. Wells Fargo & Company MN now owns 250,123 shares of the company's stock valued at $7,741,000 after acquiring an additional 29,535 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in COPT Defense Properties in the fourth quarter valued at $1,397,000.

Insider Transactions at COPT Defense Properties

In related news, Director Robert L. Denton sold 4,398 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.42% of the stock is owned by corporate insiders.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock traded up $0.01 during trading on Monday, hitting $27.78. 101,911 shares of the stock were exchanged, compared to its average volume of 947,334. The stock's fifty day moving average is $28.08 and its 200 day moving average is $27.44. The stock has a market cap of $3.14 billion, a PE ratio of 21.70 and a beta of 0.87. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.96 and a current ratio of 2.96. COPT Defense Properties has a 12 month low of $23.92 and a 12 month high of $34.22.

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

COPT Defense Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Monday, June 30th were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, June 30th. COPT Defense Properties's dividend payout ratio is currently 95.31%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped 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 report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.17.

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.