Teacher Retirement System of Texas Has $449,000 Stake in COPT Defense Properties (NYSE:CDP)

Teacher Retirement System of Texas decreased its holdings in COPT Defense Properties (NYSE:CDP - Free Report) by 72.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,475 shares of the company's stock after selling 42,905 shares during the period. Teacher Retirement System of Texas' holdings in COPT Defense Properties were worth $449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDP. Alliancebernstein L.P. raised its stake in COPT Defense Properties by 813.0% in the fourth quarter. Alliancebernstein L.P. now owns 6,247,854 shares of the company's stock valued at $193,371,000 after buying an additional 5,563,548 shares during the period. Norges Bank bought a new stake in COPT Defense Properties in the fourth quarter valued at approximately $45,718,000. JPMorgan Chase & Co. increased its stake in shares of COPT Defense Properties by 21.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,283,383 shares of the company's stock worth $101,621,000 after purchasing an additional 590,051 shares during the period. Raymond James Financial Inc. bought a new position in shares of COPT Defense Properties during the fourth quarter worth approximately $16,063,000. Finally, FMR LLC increased its stake in shares of COPT Defense Properties by 12.2% during the fourth quarter. FMR LLC now owns 3,099,052 shares of the company's stock worth $95,916,000 after purchasing an additional 335,775 shares during the period.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered their target price on COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.14.

Insider Buying and Selling at COPT Defense Properties

In other COPT Defense Properties news, Director Robert L. Denton sold 4,398 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $26.70, for a total value of $117,426.60. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.42% of the company's stock.

COPT Defense Properties Price Performance

NYSE:CDP traded up $0.11 during trading hours on Monday, reaching $27.96. 572,609 shares of the company were exchanged, compared to its average volume of 949,561. The business has a 50 day moving average of $27.89 and a 200 day moving average of $27.64. COPT Defense Properties has a 1-year low of $23.92 and a 1-year high of $34.22. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.21 and a quick ratio of 3.21. The company has a market capitalization of $3.16 billion, a P/E ratio of 22.36 and a beta of 0.87.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.65 EPS for the quarter, hitting analysts' consensus estimates of $0.65. The firm had revenue of $187.86 million for the quarter, compared to analyst estimates of $186.37 million. COPT Defense Properties had a return on equity of 9.19% and a net margin of 18.86%. The company's revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Research analysts forecast that COPT Defense Properties will post 2.67 EPS for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th were issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Monday, June 30th. COPT Defense Properties's dividend payout ratio is presently 97.60%.

COPT Defense Properties Profile

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.