Sumitomo Mitsui Trust Holdings Inc. Buys 564,794 Shares of COPT Defense Properties (NYSE:CDP)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in COPT Defense Properties (NYSE:CDP - Free Report) by 443.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 692,261 shares of the company's stock after buying an additional 564,794 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.61% of COPT Defense Properties worth $17,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of COPT Defense Properties by 37.4% during the second quarter. Blue Trust Inc. now owns 9,117 shares of the company's stock valued at $220,000 after purchasing an additional 2,483 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of COPT Defense Properties by 18.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,742 shares of the company's stock valued at $394,000 after purchasing an additional 2,421 shares during the period. SG Americas Securities LLC raised its holdings in shares of COPT Defense Properties by 173.3% during the second quarter. SG Americas Securities LLC now owns 36,678 shares of the company's stock valued at $918,000 after purchasing an additional 23,257 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of COPT Defense Properties during the first quarter valued at about $648,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of COPT Defense Properties during the first quarter valued at about $927,000.

COPT Defense Properties Price Performance

NYSE CDP traded up $0.25 on Wednesday, hitting $28.89. The stock had a trading volume of 748,624 shares, compared to its average volume of 842,068. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -26.75, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98. The firm has a 50-day moving average of $26.78 and a 200-day moving average of $24.96.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). The firm had revenue of $187.34 million during the quarter, compared to analysts' expectations of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities analysts expect that COPT Defense Properties will post 2.56 EPS for the current year.

COPT Defense Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, September 30th. COPT Defense Properties's dividend payout ratio (DPR) is currently -109.26%.

Analysts Set New Price Targets

CDP has been the subject of several recent research reports. Wedbush boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Evercore ISI boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.43.

COPT Defense Properties Company Profile

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.