Texas Permanent School Fund Corp Acquires 8,545 Shares of COPT Defense Properties (NYSE:CDP)

Texas Permanent School Fund Corp grew its holdings in COPT Defense Properties (NYSE:CDP) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,303 shares of the company’s stock after buying an additional 8,545 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of COPT Defense Properties worth $2,636,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Heritage Wealth Advisors bought a new position in COPT Defense Properties during the first quarter worth about $39,000. Spirit of America Management Corp NY acquired a new stake in COPT Defense Properties in the 2nd quarter valued at $50,000. Bessemer Group Inc. acquired a new stake in COPT Defense Properties in the 1st quarter valued at $100,000. Lazard Asset Management LLC bought a new stake in COPT Defense Properties in the first quarter valued at $102,000. Finally, Allstate Corp acquired a new position in COPT Defense Properties during the first quarter worth $201,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price objective 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. Evercore ISI upped their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wedbush upped their price objective 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, Truist Financial upped their price objective 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

COPT Defense Properties Price Performance

Shares of CDP stock opened at $30.10 on Tuesday. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $30.36. The firm’s 50 day moving average is $28.44 and its 200-day moving average is $25.67. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -27.87, a PEG ratio of 2.81 and a beta of 0.99. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The company had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. COPT Defense Properties’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts forecast that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

Insider Transactions at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired 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 directly owns 2,000 shares in the company, valued at approximately $58,820. 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 owned by corporate insiders.

About COPT Defense Properties

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.