Resona Asset Management Co. Ltd. Takes $1.40 Million Position in COPT Defense Properties (NYSE:CDP)

Resona Asset Management Co. Ltd. purchased a new stake in COPT Defense Properties (NYSE:CDP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 45,011 shares of the company's stock, valued at approximately $1,397,000.

Several other hedge funds also recently added to or reduced their stakes in CDP. GAMMA Investing LLC grew its position in COPT Defense Properties by 77.8% in the fourth quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock valued at $43,000 after acquiring an additional 614 shares in the last quarter. USA Financial Formulas purchased a new position in shares of COPT Defense Properties in the fourth quarter valued at $90,000. Wilmington Savings Fund Society FSB acquired a new stake in COPT Defense Properties during the 3rd quarter valued at $91,000. Meeder Asset Management Inc. acquired a new stake in COPT Defense Properties during the 4th quarter valued at $110,000. Finally, Spirit of America Management Corp NY increased its stake in COPT Defense Properties by 25.0% during the 4th 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 during the period.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group initiated coverage on shares of COPT Defense Properties in a research report on Monday, March 17th. They issued 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. According to data from MarketBeat.com, COPT Defense Properties currently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

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COPT Defense Properties Stock Up 0.6 %

CDP stock traded up $0.17 during mid-day trading on Tuesday, hitting $26.12. 90,473 shares of the company were exchanged, compared to its average volume of 924,347. The firm has a fifty day simple moving average of $26.91 and a 200 day simple moving average of $29.69. The company has a market capitalization of $2.95 billion, a PE ratio of 21.21 and a beta of 0.92. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.

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

COPT Defense Properties Increases Dividend

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

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.