UMB Bank n.a. boosted its stake in shares of COPT Defense Properties (NYSE:CDP – Free Report) by 321.7% during the first quarter, Holdings Channel.com reports. The fund owned 1,071 shares of the company’s stock after acquiring an additional 817 shares during the period. UMB Bank n.a.’s holdings in COPT Defense Properties were worth $29,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in shares of COPT Defense Properties in the 4th quarter valued at $63,000. FIL Ltd boosted its holdings in shares of COPT Defense Properties by 17.8% in the 4th 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. acquired a new stake in shares of COPT Defense Properties in the 4th quarter valued at $110,000. Landscape Capital Management L.L.C. acquired a new stake in shares of COPT Defense Properties in the 4th quarter valued at $204,000. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of COPT Defense Properties by 10.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 6,854 shares of the company’s stock valued at $187,000 after purchasing an additional 660 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on COPT Defense Properties from $36.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Jefferies Financial Group assumed coverage on COPT Defense Properties in a report on Monday, March 17th. They set a “buy” rating and a $31.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.14.
COPT Defense Properties Stock Down 0.6%
Shares of CDP opened at $28.58 on Monday. The company has a market capitalization of $3.23 billion, a PE ratio of 23.24 and a beta of 0.88. COPT Defense Properties has a 12 month low of $23.92 and a 12 month high of $34.22. The stock’s 50-day moving average price is $26.86 and its two-hundred day moving average price is $28.27. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.
COPT Defense Properties (NYSE:CDP – Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.65 EPS for the quarter, hitting the consensus estimate of $0.65. The firm had revenue of $187.86 million for the quarter, compared to the consensus estimate of $186.37 million. COPT Defense Properties had a return on equity of 9.07% and a net margin of 18.44%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. On average, analysts anticipate that COPT Defense Properties will post 2.67 EPS for the current year.
COPT Defense Properties Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders 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 dividend yield of 4.27%. The ex-dividend date is Monday, June 30th. COPT Defense Properties’s dividend payout ratio is 97.60%.
Insider Activity
In other news, Director Robert L. Denton sold 4,398 shares of the business’s stock in a transaction dated 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 can be accessed through this link. 1.42% of the stock is owned by company insiders.
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.
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