Asset Management One Co. Ltd. Reduces Stock Holdings in COPT Defense Properties $CDP

Asset Management One Co. Ltd. lowered its position in COPT Defense Properties (NYSE:CDP) by 13.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,794 shares of the company’s stock after selling 31,383 shares during the quarter. Asset Management One Co. Ltd. owned 0.18% of COPT Defense Properties worth $5,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in COPT Defense Properties during the 2nd quarter worth about $1,486,000. Allianz Asset Management GmbH increased its position in COPT Defense Properties by 51.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 350,101 shares of the company’s stock worth $9,656,000 after purchasing an additional 118,768 shares in the last quarter. New York State Teachers Retirement System increased its position in COPT Defense Properties by 7.1% during the 2nd quarter. New York State Teachers Retirement System now owns 160,889 shares of the company’s stock worth $4,437,000 after purchasing an additional 10,726 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in COPT Defense Properties by 81.8% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 4,000 shares of the company’s stock worth $110,000 after purchasing an additional 1,800 shares in the last quarter. Finally, CWM LLC increased its position in COPT Defense Properties by 6.2% during the 2nd quarter. CWM LLC now owns 30,041 shares of the company’s stock worth $829,000 after purchasing an additional 1,743 shares in the last quarter.

COPT Defense Properties Stock Down 1.0%

CDP opened at $27.99 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.96 and a quick ratio of 2.96. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 21.87 and a beta of 0.94. The business has a 50-day moving average of $29.11 and a two-hundred day moving average of $28.08. COPT Defense Properties has a 12 month low of $23.92 and a 12 month high of $34.22.

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

COPT Defense Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.305 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.4%. COPT Defense Properties’s payout ratio is presently 95.31%.

Insider Activity

In other news, Director Lisa G. Trimberger sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $30.52, for a total transaction of $91,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDP. Weiss Ratings reiterated a “buy (b-)” rating on shares of COPT Defense Properties in a research report on Wednesday, October 8th. Cantor Fitzgerald began coverage on COPT Defense Properties in a research report on Wednesday, October 1st. They set an “overweight” rating and a $35.00 price objective for the company. Jefferies Financial Group raised their price target on COPT Defense Properties from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Evercore ISI lowered their price target on COPT Defense Properties from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. lifted their price target on COPT Defense Properties from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, COPT Defense Properties presently has an average rating of “Moderate Buy” and an average target price of $33.75.

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.