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

Several other institutional investors also recently modified their holdings of the stock. Meritage Portfolio Management bought a new position in shares of COPT Defense Properties in the third quarter worth approximately $543,000. Atria Investments Inc raised its stake in shares of COPT Defense Properties by 63.2% during the third quarter. Atria Investments Inc now owns 13,256 shares of the company’s stock worth $402,000 after acquiring an additional 5,135 shares in the last quarter. Carmel Capital Partners LLC raised its stake in shares of COPT Defense Properties by 3.5% during the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after acquiring an additional 584 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of COPT Defense Properties by 17.2% during the third quarter. Asset Management One Co. Ltd. now owns 220,524 shares of the company’s stock worth $6,688,000 after acquiring an additional 32,362 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of COPT Defense Properties by 10.5% during the third quarter. Van ECK Associates Corp now owns 22,085 shares of the company’s stock worth $707,000 after acquiring an additional 2,104 shares in the last quarter.

Insider Activity at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

COPT Defense Properties Stock Up 0.9 %

Shares of NYSE CDP opened at $32.43 on Tuesday. The company has a quick ratio of 3.17, a current ratio of 2.38 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 $34.22. The firm’s fifty day moving average is $31.09 and its 200 day moving average is $27.87. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 26.58 and a beta of 0.98.

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

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.