Geode Capital Management LLC Trims Holdings in COPT Defense Properties (NYSE:CDP)

Geode Capital Management LLC decreased its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,915,717 shares of the company's stock after selling 11,491 shares during the quarter. Geode Capital Management LLC owned approximately 2.59% of COPT Defense Properties worth $90,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CDP. GAMMA Investing LLC boosted its holdings in COPT Defense Properties by 77.8% in the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock worth $43,000 after buying an additional 614 shares during the last quarter. USA Financial Formulas acquired a new position in COPT Defense Properties in the 4th quarter valued at $90,000. Wilmington Savings Fund Society FSB purchased a new position in COPT Defense Properties in the 3rd quarter valued at $91,000. Meeder Asset Management Inc. acquired a new stake in COPT Defense Properties during the 4th quarter worth $110,000. Finally, Spirit of America Management Corp NY grew its holdings in shares of COPT Defense Properties by 25.0% during the fourth quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company's stock worth $155,000 after buying an additional 1,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on shares of COPT Defense Properties in a research note on Monday, March 17th. They set a "buy" rating and a $31.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.43.

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COPT Defense Properties Trading Up 0.6 %

Shares of CDP traded up $0.15 during mid-day trading on Tuesday, reaching $26.10. The stock had a trading volume of 224,620 shares, compared to its average volume of 924,882. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 21.22 and a beta of 0.92. The business's fifty day moving average is $26.91 and its 200 day moving average is $29.69. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. On average, sell-side analysts predict that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be given a $0.305 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a yield of 4.67%. This is an increase from COPT Defense Properties's previous quarterly dividend of $0.30. COPT Defense Properties's payout ratio is currently 99.19%.

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.