Wedge Capital Management L L P NC decreased its holdings in shares of COPT Defense Properties (NYSE:CDP - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,307 shares of the company's stock after selling 60,608 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.10% of COPT Defense Properties worth $2,981,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of CDP. abrdn plc grew its stake in COPT Defense Properties by 72.9% in the 4th quarter. abrdn plc now owns 38,891 shares of the company's stock valued at $1,199,000 after buying an additional 16,399 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in COPT Defense Properties by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 647,855 shares of the company's stock valued at $20,051,000 after buying an additional 5,983 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in COPT Defense Properties by 17.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,611 shares of the company's stock valued at $731,000 after buying an additional 3,577 shares during the last quarter. Van ECK Associates Corp grew its stake in COPT Defense Properties by 10.8% in the 4th quarter. Van ECK Associates Corp now owns 24,477 shares of the company's stock valued at $758,000 after buying an additional 2,392 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in COPT Defense Properties by 6.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 233,826 shares of the company's stock valued at $7,258,000 after buying an additional 13,302 shares during the last quarter.
Analyst Ratings Changes
Several analysts have issued reports on CDP shares. Wells Fargo & Company decreased 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. Jefferies Financial Group started coverage on shares of COPT Defense Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $31.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, COPT Defense Properties currently has an average rating of "Moderate Buy" and a consensus price target of $33.14.
View Our Latest Stock Report on CDP
COPT Defense Properties Trading Down 0.6%
Shares of NYSE:CDP traded down $0.18 during trading on Friday, hitting $28.58. 819,140 shares of the company's stock were exchanged, compared to its average volume of 950,163. COPT Defense Properties has a 1-year low of $23.90 and a 1-year high of $34.22. The firm has a 50-day moving average price of $26.78 and a two-hundred day moving average price of $28.36. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The firm has a market cap of $3.23 billion, a P/E ratio of 23.24 and a beta of 0.88.
COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. The company had revenue of $187.86 million during the quarter, compared to analysts' expectations of $186.37 million. During the same quarter in the previous year, the company earned $0.62 EPS. COPT Defense Properties's revenue was up 6.0% on a year-over-year basis. Equities analysts predict that COPT Defense Properties will post 2.67 earnings per share for the current year.
COPT Defense Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Monday, June 30th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Monday, June 30th. COPT Defense Properties's dividend payout ratio is 97.60%.
Insider Transactions at COPT Defense Properties
In other news, Director Robert L. Denton sold 4,398 shares of COPT Defense Properties 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 Securities & Exchange Commission, which is available at this link. 1.42% of the stock is owned by corporate insiders.
About COPT Defense Properties
(
Free Report)
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.
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