Charles Schwab Investment Management Inc. Sells 4,996 Shares of COPT Defense Properties (NYSE:CDP)

Charles Schwab Investment Management Inc. lowered its stake in shares of COPT Defense Properties (NYSE:CDP) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,318,998 shares of the company’s stock after selling 4,996 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.05% of COPT Defense Properties worth $63,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDP. UMB Bank n.a. boosted its holdings in COPT Defense Properties by 321.7% during the first quarter. UMB Bank n.a. now owns 1,071 shares of the company’s stock worth $29,000 after buying an additional 817 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in COPT Defense Properties during the fourth quarter worth about $63,000. US Bancorp DE boosted its holdings in COPT Defense Properties by 114.0% during the first quarter. US Bancorp DE now owns 3,770 shares of the company’s stock worth $103,000 after buying an additional 2,008 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of COPT Defense Properties by 28.3% during the first quarter. PNC Financial Services Group Inc. now owns 4,371 shares of the company’s stock worth $119,000 after purchasing an additional 964 shares during the period. Finally, Central Pacific Bank Trust Division raised its position in shares of COPT Defense Properties by 10.7% during the first quarter. Central Pacific Bank Trust Division now owns 6,854 shares of the company’s stock worth $187,000 after purchasing an additional 660 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company dropped their price target on 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.17.

COPT Defense Properties Stock Down 0.9%

Shares of COPT Defense Properties stock opened at $27.80 on Friday. The business’s 50 day simple moving average is $28.10 and its 200 day simple moving average is $27.41. COPT Defense Properties has a 52-week low of $23.92 and a 52-week high of $34.22. The firm has a market cap of $3.14 billion, a PE ratio of 21.72 and a beta of 0.87. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.96 and a current ratio of 2.96.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. COPT Defense Properties had a return on equity of 9.38% and a net margin of 19.23%. The business had revenue of $175.60 million for the quarter, compared to analyst estimates of $186.55 million. During the same quarter last year, the firm earned $0.64 EPS. COPT Defense Properties’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts predict that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 4.4%. COPT Defense Properties’s dividend payout ratio is presently 95.31%.

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.