Victory Capital Management Inc. Sells 2,655,038 Shares of COPT Defense Properties (NYSE:CDP)

Victory Capital Management Inc. reduced its position in COPT Defense Properties (NYSE:CDP - Free Report) by 75.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 861,076 shares of the company's stock after selling 2,655,038 shares during the quarter. Victory Capital Management Inc. owned approximately 0.76% of COPT Defense Properties worth $23,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of COPT Defense Properties in the fourth quarter valued at $16,063,000. Principal Financial Group Inc. grew its position in shares of COPT Defense Properties by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,945,257 shares of the company's stock valued at $53,047,000 after purchasing an additional 38,916 shares in the last quarter. M&T Bank Corp grew its position in shares of COPT Defense Properties by 23.5% in the first quarter. M&T Bank Corp now owns 27,034 shares of the company's stock valued at $737,000 after purchasing an additional 5,145 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of COPT Defense Properties by 28.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,517 shares of the company's stock valued at $478,000 after purchasing an additional 3,866 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of COPT Defense Properties by 9.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,833 shares of the company's stock valued at $19,412,000 after purchasing an additional 63,978 shares in the last quarter.

COPT Defense Properties Price Performance

NYSE:CDP traded up $0.17 during trading hours on Friday, hitting $27.99. 493,804 shares of the company's stock traded hands, compared to its average volume of 744,942. The firm has a market cap of $3.16 billion, a P/E ratio of 22.39 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. The business's fifty day simple moving average is $27.99 and its two-hundred day simple moving average is $27.60. 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 posted its quarterly earnings data on Monday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $187.86 million during the quarter, compared to analyst estimates of $186.37 million. COPT Defense Properties had a return on equity of 9.19% and a net margin of 18.86%. The firm's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. On average, research analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 4.36%. The ex-dividend date was Monday, June 30th. COPT Defense Properties's dividend payout ratio (DPR) is currently 97.60%.

Insider Transactions at COPT Defense Properties

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

Analyst Ratings Changes

Separately, Wells Fargo & Company reduced their price target on COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating for the company 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $33.14.

COPT Defense Properties Company 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.