State of New Jersey Common Pension Fund D Sells 5,912 Shares of COPT Defense Properties (NYSE:CDP)

State of New Jersey Common Pension Fund D cut its stake in shares of COPT Defense Properties (NYSE:CDP) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 224,917 shares of the company’s stock after selling 5,912 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.20% of COPT Defense Properties worth $6,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meritage Portfolio Management bought a new stake in shares of COPT Defense Properties during the 3rd quarter valued at approximately $543,000. Atria Investments Inc boosted its position in COPT Defense Properties by 63.2% during the 3rd quarter. Atria Investments Inc now owns 13,256 shares of the company’s stock worth $402,000 after buying an additional 5,135 shares during the period. Carmel Capital Partners LLC boosted its position in COPT Defense Properties by 3.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after buying an additional 584 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of COPT Defense Properties by 17.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 220,524 shares of the company’s stock worth $6,688,000 after purchasing an additional 32,362 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of COPT Defense Properties by 10.5% in the 3rd quarter. Van ECK Associates Corp now owns 22,085 shares of the company’s stock worth $707,000 after purchasing an additional 2,104 shares during the period.

Wall Street Analysts Forecast Growth

CDP has been the topic of a number of research reports. Wedbush boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Evercore ISI boosted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Truist Financial boosted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, COPT Defense Properties presently has an average rating of “Moderate Buy” and a consensus price target of $30.86.

COPT Defense Properties Stock Performance

Shares of CDP stock opened at $32.43 on Tuesday. The firm has a market capitalization of $3.65 billion, a PE ratio of 26.58 and a beta of 0.98. The firm has a fifty day simple moving average of $31.09 and a two-hundred day simple moving average of $27.87. The company has a current ratio of 2.38, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22.

COPT Defense Properties (NYSE:CDP) last posted its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. Analysts forecast that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider bought 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.06% of the company’s stock.

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.