State Street Corp Raises Stake in COPT Defense Properties $CDP

Key Points

• State Street increased its COPT Defense Properties stake by 0.5% in the second quarter, adding 34,561 shares to own 6.87 million shares, or approximately 6.06% of the company valued at $252.1 million.
• COPT Defense Properties exceeded quarterly expectations, reporting $0.40 EPS versus the $0.33 consensus and revenue of $197.4 million compared with estimates of $189.4 million. The company guided to fiscal 2026 EPS of $1.39–$1.43.
• The company declared a quarterly dividend of $0.32 per share, equivalent to a 3.8% annualized yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $37.38 versus the reported share price of $33.74.

State Street Corp boosted its stake in COPT Defense Properties (NYSE:CDP - Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,871,138 shares of the company's stock after purchasing an additional 34,561 shares during the quarter. State Street Corp owned approximately 6.06% of COPT Defense Properties worth $252,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in COPT Defense Properties by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,149,130 shares of the company's stock worth $87,558,000 after acquiring an additional 17,049 shares during the period. Dimensional Fund Advisors LP grew its position in shares of COPT Defense Properties by 1.5% during 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 in the last quarter. Norges Bank purchased a new position in shares of COPT Defense Properties during the 4th quarter valued at $39,685,000. Bank of New York Mellon Corp increased its holdings in shares of COPT Defense Properties by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 1,317,391 shares of the company's stock worth $40,312,000 after purchasing an additional 18,758 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of COPT Defense Properties by 7.6% in the fourth quarter. Legal & General Group Plc now owns 764,942 shares of the company's stock worth $21,265,000 after purchasing an additional 53,735 shares during the period.

COPT Defense Properties Stock Performance

Shares of NYSE CDP opened at $33.74 on Thursday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 23.43 and a beta of 0.76. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.64. COPT Defense Properties has a 1-year low of $27.06 and a 1-year high of $38.90. The stock's 50-day moving average is $36.51 and its 200 day moving average is $34.16.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.07. The business had revenue of $197.39 million during the quarter, compared to analyst estimates of $189.36 million. COPT Defense Properties had a return on equity of 10.48% and a net margin of 20.94%.During the same quarter in the prior year, the firm earned $0.34 earnings per share. COPT Defense Properties has set its FY 2026 guidance at 1.390-1.430 EPS and its Q3 2026 guidance at 0.370-0.390 EPS. On average, sell-side analysts anticipate that COPT Defense Properties will post 2.78 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 15th. Investors of record on Wednesday, September 30th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, September 30th. COPT Defense Properties's dividend payout ratio (DPR) is presently 88.89%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on COPT Defense Properties from $36.00 to $41.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 1st. Citigroup lifted their target price on shares of COPT Defense Properties from $34.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $37.00 price target on shares of COPT Defense Properties in a research note on Thursday, June 25th. Truist Financial increased their price target on shares of COPT Defense Properties from $34.00 to $38.00 and gave the stock a "hold" rating in a report on Monday, August 24th. Finally, Evercore restated an "outperform" rating and set a $42.00 price objective on shares of COPT Defense Properties in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.38.

COPT Defense Properties Profile

COPT Defense Properties NYSE: CDP is a real estate investment trust that owns, develops, manages and operates office and specialized data center properties in the United States. The company focuses on facilities designed to support national security, defense and information technology organizations, including government agencies, defense contractors and related businesses.

Its portfolio is concentrated in the Greater Washington, DC, region and nearby markets, including Northern Virginia and suburban Maryland.

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