New York State Common Retirement Fund Sells 78,044 Shares of COPT Defense Properties (NYSE:CDP)

New York State Common Retirement Fund lowered its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 693,829 shares of the company's stock after selling 78,044 shares during the quarter. New York State Common Retirement Fund owned approximately 0.62% of COPT Defense Properties worth $21,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of COPT Defense Properties by 2.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 886,136 shares of the company's stock worth $26,876,000 after purchasing an additional 17,306 shares during the last quarter. abrdn plc increased its position in shares of COPT Defense Properties by 10.5% during the 3rd quarter. abrdn plc now owns 22,492 shares of the company's stock valued at $682,000 after purchasing an additional 2,146 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of COPT Defense Properties during the 3rd quarter valued at about $236,000. Mirae Asset Global Investments Co. Ltd. lifted its position in COPT Defense Properties by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company's stock worth $134,000 after buying an additional 1,130 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its stake in COPT Defense Properties by 100.0% in the third quarter. Spirit of America Management Corp NY now owns 4,000 shares of the company's stock worth $121,000 after buying an additional 2,000 shares in the last quarter.

Insider Activity

In related news, COO Britt A. Snider bought 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares of the company's stock, valued at approximately $58,820. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.06% of the company's stock.

COPT Defense Properties Stock Performance

CDP traded up $0.02 during mid-day trading on Tuesday, reaching $32.49. 745,477 shares of the company traded hands, compared to its average volume of 834,224. The stock has a market capitalization of $3.66 billion, a P/E ratio of 26.57 and a beta of 0.98. The company has a quick ratio of 3.17, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The company's fifty day moving average price is $30.81 and its 200-day moving average price is $27.53. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $33.05.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates 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 earnings per share. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts expect that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties's dividend payout ratio (DPR) is currently 96.72%.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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. Truist Financial upped their price target 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. Wedbush lifted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their target price 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, Wells Fargo & Company decreased their price target on 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.86.

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.