Wells Fargo & Company MN Has $7.74 Million Holdings in COPT Defense Properties (NYSE:CDP)

Wells Fargo & Company MN boosted its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,123 shares of the company's stock after purchasing an additional 29,535 shares during the quarter. Wells Fargo & Company MN owned about 0.22% of COPT Defense Properties worth $7,741,000 as of its most recent SEC filing.

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

COPT Defense Properties Stock Up 1.5 %

NYSE CDP traded up $0.40 during trading hours on Wednesday, hitting $26.84. 138,684 shares of the company traded hands, compared to its average volume of 1,035,741. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. The business's 50-day moving average is $26.62 and its 200-day moving average is $29.51. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 21.82 and a beta of 0.92. COPT Defense Properties has a twelve month low of $22.53 and a twelve month high of $34.22.

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

COPT Defense Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from COPT Defense Properties's previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a dividend yield of 4.55%. COPT Defense Properties's payout ratio is currently 99.19%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group began coverage on COPT Defense Properties in a report on Monday, March 17th. They set a "buy" rating and a $31.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.43.

COPT Defense Properties 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.