COPT Defense Properties (NYSE:CDP) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its stake in COPT Defense Properties (NYSE:CDP) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,800 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in COPT Defense Properties were worth $796,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CDP. Global Retirement Partners LLC purchased a new position in COPT Defense Properties in the 1st quarter worth approximately $36,000. Heritage Wealth Advisors purchased a new position in shares of COPT Defense Properties in the first quarter valued at $39,000. Bessemer Group Inc. purchased a new position in shares of COPT Defense Properties in the first quarter valued at $100,000. Lazard Asset Management LLC acquired a new stake in COPT Defense Properties during the 1st quarter valued at $102,000. Finally, Allstate Corp purchased a new stake in COPT Defense Properties during the 1st quarter worth $201,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on CDP shares. Evercore ISI upped their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wedbush increased 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. Finally, Truist Financial raised their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

COPT Defense Properties Stock Up 1.2 %

NYSE:CDP opened at $29.83 on Friday. The stock has a 50-day simple moving average of $27.25 and a 200 day simple moving average of $25.17. COPT Defense Properties has a one year low of $22.20 and a one year high of $29.91. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -27.62, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). The firm 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%. COPT Defense Properties’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Sell-side analysts predict that COPT Defense Properties will post 2.56 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

COPT Defense Properties 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.