COPT Defense Properties (NYSE:CDP) Trading Up 0.2% – Here’s Why

COPT Defense Properties (NYSE:CDP)’s stock price was up 0.2% during mid-day trading on Tuesday . The stock traded as high as $32.38 and last traded at $32.29. Approximately 77,127 shares changed hands during trading, a decline of 91% from the average daily volume of 869,749 shares. The stock had previously closed at $32.23.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wedbush boosted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company dropped their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Evercore ISI lifted their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Truist Financial lifted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and an average price target of $30.86.

COPT Defense Properties Stock Up 1.2 %

The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average price is $31.37 and its 200 day moving average price is $28.33. The firm has a market capitalization of $3.68 billion, a PE ratio of 26.47 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The company had revenue of $189.23 million during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 3.62%. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On COPT Defense Properties

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new position in shares of COPT Defense Properties in the first quarter valued at $1,702,000. California State Teachers Retirement System purchased a new stake in shares of COPT Defense Properties in the first quarter valued at about $2,721,000. Public Employees Retirement System of Ohio acquired a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $7,571,000. Millennium Management LLC raised its position in shares of COPT Defense Properties by 65.3% during the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after purchasing an additional 1,293,761 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in COPT Defense Properties by 66.5% in the 2nd quarter. Hsbc Holdings PLC now owns 233,928 shares of the company’s stock valued at $5,808,000 after buying an additional 93,396 shares in the last quarter.

COPT Defense Properties Company Profile

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.