COPT Defense Properties (NYSE:CDP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in COPT Defense Properties (NYSE:CDP) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,137,012 shares of the company’s stock after selling 4,658 shares during the period. Bank of New York Mellon Corp owned 1.01% of COPT Defense Properties worth $31,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDP. UMB Bank n.a. increased its stake in COPT Defense Properties by 321.7% in the 1st quarter. UMB Bank n.a. now owns 1,071 shares of the company’s stock worth $29,000 after purchasing an additional 817 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of COPT Defense Properties during the 4th quarter worth about $63,000. FIL Ltd grew 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 worth $80,000 after purchasing an additional 391 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in COPT Defense Properties in the fourth quarter worth $110,000. Finally, Central Pacific Bank Trust Division raised its holdings in shares of COPT Defense Properties by 10.7% in the first quarter. Central Pacific Bank Trust Division now owns 6,854 shares of the company’s stock valued at $187,000 after buying an additional 660 shares during the last quarter.

Insider Activity

In other COPT Defense Properties news, Director Robert L. Denton sold 4,398 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, COPT Defense Properties currently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

COPT Defense Properties Trading Down 1.9%

Shares of CDP opened at $27.80 on Wednesday. The stock has a market capitalization of $3.14 billion, a P/E ratio of 22.24 and a beta of 0.87. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 1.57. The firm has a fifty day simple moving average of $27.81 and a two-hundred day simple moving average of $27.73. COPT Defense Properties has a twelve month low of $23.92 and a twelve month high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. COPT Defense Properties had a net margin of 18.86% and a return on equity of 9.19%. The firm had revenue of $187.86 million for the quarter, compared to analysts’ expectations of $186.37 million. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts anticipate that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Announces Dividend

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 issued a $0.305 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 4.39%. COPT Defense Properties’s payout ratio is 97.60%.

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.