COPT Defense Properties $CDP Shares Newly Acquired by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board purchased a new stake in COPT Defense Properties (NYSE:CDP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,300 shares of the company’s stock, valued at approximately $778,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of COPT Defense Properties by 0.5% during the second quarter. State Street Corp now owns 6,871,138 shares of the company’s stock worth $252,139,000 after acquiring an additional 34,561 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of COPT Defense Properties by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,682,296 shares of the company’s stock valued at $51,480,000 after purchasing an additional 25,026 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of COPT Defense Properties by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,317,391 shares of the company’s stock valued at $40,312,000 after purchasing an additional 18,758 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in COPT Defense Properties in the 3rd quarter worth approximately $28,030,000. Finally, Leeward Investments LLC MA acquired a new stake in COPT Defense Properties in the 3rd quarter worth approximately $17,840,000.

COPT Defense Properties Stock Up 0.4%

Shares of CDP stock opened at $32.92 on Thursday. COPT Defense Properties has a fifty-two week low of $27.06 and a fifty-two week high of $38.90. The firm has a market capitalization of $3.73 billion, a PE ratio of 22.25 and a beta of 0.79. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.98 and a current ratio of 1.98. The stock’s 50-day simple moving average is $33.86 and its 200-day simple moving average is $33.68.

COPT Defense Properties (NYSE:CDP) last released its earnings results on Thursday, October 29th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $208.76 million during the quarter, compared to the consensus estimate of $190.43 million. COPT Defense Properties had a return on equity of 10.80% and a net margin of 21.17%. Equities analysts expect that COPT Defense Properties will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDP. Truist Financial upped their price target on shares of COPT Defense Properties from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, August 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of COPT Defense Properties in a report on Thursday, October 15th. Evercore reiterated an “outperform” rating and set a $42.00 price objective on shares of COPT Defense Properties in a research note on Monday, July 27th. BTIG Research reiterated a “buy” rating and set a $38.00 price objective on shares of COPT Defense Properties in a research note on Friday, October 30th. Finally, Citigroup dropped their price objective on shares of COPT Defense Properties from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.50.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust that owns, operates and develops properties primarily for tenants in the U.S. defense, intelligence and information technology sectors. Its portfolio includes office and other mission-critical facilities designed to support government agencies and the contractors and technology companies that serve them. The company’s properties are concentrated in locations with significant defense and government activity, including the greater Washington, D.C., region and other U.S. markets.