State of New Jersey Common Pension Fund D Sells 110,512 Shares of COPT Defense Properties (NYSE:CDP)

State of New Jersey Common Pension Fund D cut its position in shares of COPT Defense Properties (NYSE:CDP) by 32.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,829 shares of the company’s stock after selling 110,512 shares during the period. State of New Jersey Common Pension Fund D owned about 0.20% of COPT Defense Properties worth $5,778,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in COPT Defense Properties during the 1st quarter valued at $2,498,000. Swiss National Bank bought a new stake in COPT Defense Properties during the 1st quarter valued at $5,361,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in COPT Defense Properties during the 1st quarter valued at $3,081,000. Leeward Investments LLC MA bought a new stake in COPT Defense Properties during the 1st quarter valued at $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of COPT Defense Properties in the 1st quarter valued at $13,958,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wedbush lifted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Evercore ISI lifted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Truist Financial lifted their price target on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, COPT Defense Properties has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insiders Place Their Bets

In other news, COO Britt A. Snider acquired 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.06% of the stock is owned by company insiders.

COPT Defense Properties Stock Performance

Shares of CDP stock opened at $30.10 on Monday. The stock has a market cap of $3.39 billion, a PE ratio of -27.87, a price-to-earnings-growth ratio of 2.81 and a beta of 0.99. The business has a 50-day simple moving average of $28.34 and a 200-day simple moving average of $25.63. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $30.15.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The business had revenue of $187.34 million during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.60 EPS. On average, equities analysts expect that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 3.92%. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

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.