Cramer Rosenthal Mcglynn LLC Cuts Stock Holdings in COPT Defense Properties (NYSE:CDP)

Cramer Rosenthal Mcglynn LLC lowered its stake in COPT Defense Properties (NYSE:CDP) by 47.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,785 shares of the company’s stock after selling 137,197 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.13% of COPT Defense Properties worth $4,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. KBC Group NV lifted its position in shares of COPT Defense Properties by 33.4% in the fourth quarter. KBC Group NV now owns 5,081 shares of the company’s stock worth $157,000 after buying an additional 1,271 shares in the last quarter. Nordea Investment Management AB raised its holdings in COPT Defense Properties by 5.1% during the 4th quarter. Nordea Investment Management AB now owns 376,938 shares of the company’s stock valued at $11,666,000 after buying an additional 18,278 shares during the period. JPMorgan Chase & Co. raised its holdings in COPT Defense Properties by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock valued at $81,689,000 after buying an additional 710,491 shares during the period. Raymond James Financial Inc. bought a new stake in COPT Defense Properties in the fourth quarter worth $16,063,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in COPT Defense Properties by 192.9% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company’s stock worth $35,847,000 after buying an additional 762,840 shares during the period.

COPT Defense Properties Stock Up 0.6 %

Shares of CDP opened at $26.36 on Friday. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22. The firm has a fifty day moving average price of $26.73 and a 200-day moving average price of $29.62. The firm has a market capitalization of $2.98 billion, a P/E ratio of 21.43 and a beta of 0.92. 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) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that COPT Defense Properties will post 2.67 earnings per share for the current year.

COPT Defense Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were given a dividend of $0.305 per share. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, March 31st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.63%. COPT Defense Properties’s dividend payout ratio is presently 99.19%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group assumed coverage on shares of COPT Defense Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $31.00 target price on the stock. Two equities 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.43.

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.