Oregon Public Employees Retirement Fund Buys 23,398 Shares of COPT Defense Properties $CDP

Oregon Public Employees Retirement Fund bought a new stake in shares of COPT Defense Properties (NYSE:CDP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,398 shares of the company’s stock, valued at approximately $781,000.

Several other hedge funds have also bought and sold shares of CDP. Fort Washington Investment Advisors Inc. OH purchased a new position in COPT Defense Properties during the third quarter valued at approximately $28,030,000. Leeward Investments LLC MA acquired a new position in COPT Defense Properties in the third quarter valued at approximately $17,840,000. Public Employees Retirement System of Ohio acquired a new position in COPT Defense Properties in the second quarter valued at approximately $8,008,000. Asset Management One Co. Ltd. purchased a new stake in COPT Defense Properties in the 3rd quarter worth approximately $6,669,000. Finally, Renaissance Technologies LLC boosted its position in COPT Defense Properties by 81.3% in the 1st quarter. Renaissance Technologies LLC now owns 253,900 shares of the company’s stock worth $7,769,000 after purchasing an additional 113,819 shares in the last quarter.

Wall Street Analyst Weigh In

CDP has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective on shares of COPT Defense Properties from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, August 24th. Citigroup reduced their target price on COPT Defense Properties from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, November 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of COPT Defense Properties in a research report on Thursday, October 15th. Wells Fargo & Company increased their target price on COPT Defense Properties from $36.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Finally, Evercore reiterated an “outperform” rating and issued a $42.00 target price on shares of COPT Defense Properties in a research report on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP opened at $32.82 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.98 and a quick ratio of 1.98. The business’s 50 day moving average price is $33.91 and its 200-day moving average price is $33.67. The firm has a market capitalization of $3.72 billion, a PE ratio of 11.91 and a beta of 0.79. COPT Defense Properties has a 1 year low of $27.06 and a 1 year high of $38.90.

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

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is currently 86.49%.

COPT Defense Properties Profile

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.