New York State Teachers Retirement System Sells 800 Shares of COPT Defense Properties (NYSE:CDP)

New York State Teachers Retirement System trimmed its holdings in COPT Defense Properties (NYSE:CDP) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,395 shares of the company’s stock after selling 800 shares during the quarter. New York State Teachers Retirement System’s holdings in COPT Defense Properties were worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. CWM LLC boosted its position in shares of COPT Defense Properties by 1.4% in the third quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after acquiring an additional 475 shares during the period. Fifth Third Bancorp boosted its position in shares of COPT Defense Properties by 1.0% in the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after acquiring an additional 574 shares during the period. Arizona State Retirement System boosted its position in shares of COPT Defense Properties by 1.9% in the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock valued at $789,000 after acquiring an additional 578 shares during the period. Presima Securities ULC boosted its position in shares of COPT Defense Properties by 1.3% in the third quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock valued at $1,832,000 after acquiring an additional 800 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of COPT Defense Properties by 5.1% in the second quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock valued at $500,000 after acquiring an additional 967 shares during the period.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction dated 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 completion of the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CDP shares. Truist Financial increased their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Evercore ISI upped their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company cut their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

COPT Defense Properties Stock Performance

COPT Defense Properties stock opened at $32.66 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 3.17. The stock has a fifty day moving average price of $30.88 and a two-hundred day moving average price of $27.60. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The firm has a market capitalization of $3.68 billion, a P/E ratio of 26.77 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data 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 company had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

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.