State of New Jersey Common Pension Fund D Decreases Stake in COPT Defense Properties $CDP

State of New Jersey Common Pension Fund D lessened its stake in COPT Defense Properties (NYSE:CDP) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 220,949 shares of the company’s stock after selling 2,509 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in COPT Defense Properties were worth $6,094,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in COPT Defense Properties by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,945,257 shares of the company’s stock worth $53,047,000 after acquiring an additional 38,916 shares during the last quarter. M&T Bank Corp lifted its position in shares of COPT Defense Properties by 23.5% during the 1st quarter. M&T Bank Corp now owns 27,034 shares of the company’s stock worth $737,000 after purchasing an additional 5,145 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of COPT Defense Properties by 21.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,403,647 shares of the company’s stock worth $38,277,000 after purchasing an additional 245,440 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of COPT Defense Properties by 28.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,517 shares of the company’s stock worth $478,000 after purchasing an additional 3,866 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in COPT Defense Properties by 9.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,833 shares of the company’s stock worth $19,412,000 after buying an additional 63,978 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CDP shares. Weiss Ratings restated a “buy (b-)” rating on shares of COPT Defense Properties in a research note on Friday. JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, September 17th. New Street Research set a $33.00 price objective on COPT Defense Properties in a research note on Monday, October 13th. Evercore ISI reduced their price objective on COPT Defense Properties from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. Finally, Jefferies Financial Group upped their target price on shares of COPT Defense Properties from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 13th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.75.

Insiders Place Their Bets

In other COPT Defense Properties news, Director Lisa G. Trimberger sold 4,896 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $30.72, for a total transaction of $150,405.12. Following the completion of the transaction, the director owned 20,287 shares of the company’s stock, valued at approximately $623,216.64. This trade represents a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.42% of the company’s stock.

COPT Defense Properties Trading Down 0.2%

Shares of COPT Defense Properties stock opened at $28.37 on Monday. COPT Defense Properties has a 12-month low of $23.92 and a 12-month high of $34.22. The stock has a market cap of $3.20 billion, a PE ratio of 22.16 and a beta of 0.94. The company has a 50-day moving average of $29.10 and a two-hundred day moving average of $28.04. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.58.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. COPT Defense Properties had a return on equity of 9.38% and a net margin of 19.23%.The business had revenue of $175.60 million during the quarter, compared to analysts’ expectations of $186.55 million. During the same quarter last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, research analysts anticipate that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is 95.31%.

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.