New Mexico Educational Retirement Board Buys 23,300 Shares of COPT Defense Properties $CDP

New Mexico Educational Retirement Board bought a new position in shares of COPT Defense Properties (NYSE:CDP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,300 shares of the company’s stock, valued at approximately $778,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in COPT Defense Properties in the third quarter valued at $25,000. Integrated Wealth Concepts LLC purchased a new position in COPT Defense Properties during the second quarter worth approximately $29,000. Versant Capital Management Inc boosted its position in COPT Defense Properties by 38.8% during the third quarter. Versant Capital Management Inc now owns 1,159 shares of the company’s stock worth $39,000 after purchasing an additional 324 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of COPT Defense Properties in the third quarter valued at approximately $68,000. Finally, Nykredit A S acquired a new stake in COPT Defense Properties in the 2nd quarter valued at $76,000.

Wall Street Analysts Forecast Growth

CDP has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $38.00 price target on shares of COPT Defense Properties in a report on Friday, October 30th. Citigroup decreased 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. Evercore reaffirmed an “outperform” rating and set a $42.00 price objective on shares of COPT Defense Properties in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of COPT Defense Properties in a research report on Thursday, October 15th. Finally, Wells Fargo & Company boosted their target price on shares of COPT Defense Properties from $36.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, COPT Defense Properties has an average rating of “Moderate Buy” and an average price target of $37.50.

COPT Defense Properties Price Performance

Shares of NYSE CDP opened at $32.92 on Thursday. The firm has a 50-day simple moving average of $33.86 and a 200-day simple moving average of $33.68. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 22.25 and a beta of 0.79. COPT Defense Properties has a 52 week low of $27.06 and a 52 week high of $38.90.

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

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.