Sumitomo Mitsui Trust Group Inc. Has $19.41 Million Position in COPT Defense Properties (NYSE:CDP)

Sumitomo Mitsui Trust Group Inc. raised its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 711,833 shares of the company's stock after buying an additional 63,978 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.63% of COPT Defense Properties worth $19,412,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its stake in COPT Defense Properties by 321.7% during the 1st quarter. UMB Bank n.a. now owns 1,071 shares of the company's stock valued at $29,000 after acquiring an additional 817 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of COPT Defense Properties during the fourth quarter valued at about $63,000. FIL Ltd raised its stake in shares of COPT Defense Properties by 17.8% during the fourth 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. bought a new stake in shares of COPT Defense Properties during the 4th quarter worth about $110,000. Finally, Central Pacific Bank Trust Division raised its position in shares of COPT Defense Properties by 10.7% during the 1st quarter. Central Pacific Bank Trust Division now owns 6,854 shares of the company's stock worth $187,000 after buying an additional 660 shares in the last quarter.

Insider Transactions at COPT Defense Properties

In related news, Director Robert L. Denton sold 4,398 shares of COPT Defense Properties stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $26.70, for a total value of $117,426.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

COPT Defense Properties Stock Down 0.8%

Shares of NYSE:CDP traded down $0.22 during trading on Monday, reaching $28.17. 567,005 shares of the company traded hands, compared to its average volume of 950,520. The firm has a fifty day simple moving average of $27.57 and a 200 day simple moving average of $27.83. The firm has a market cap of $3.18 billion, a P/E ratio of 22.54 and a beta of 0.87. COPT Defense Properties has a 1-year low of $23.92 and a 1-year high of $34.22. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 1.57.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.65. The firm had revenue of $187.86 million during the quarter, compared to analysts' expectations of $186.37 million. COPT Defense Properties had a return on equity of 9.19% and a net margin of 18.86%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. Analysts anticipate 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 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. This represents a $1.22 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Monday, June 30th. COPT Defense Properties's dividend payout ratio (DPR) is presently 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.