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

COPT Defense Properties (NYSE:CDP) shares rose 0.2% on Tuesday . The stock traded as high as $32.38 and last traded at $32.29. Approximately 77,127 shares were traded during mid-day 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

CDP has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. 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. Evercore ISI upped their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Wedbush lifted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, COPT Defense Properties has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

COPT Defense Properties Trading Up 1.2 %

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

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. During the same period in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.62%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Insider Buying and Selling

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction on Tuesday, September 10th. The stock was bought 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 owns 2,000 shares of the company’s stock, valued at $58,820. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On COPT Defense Properties

Large investors have recently made changes to their positions in the company. Spirit of America Management Corp NY purchased a new position in COPT Defense Properties during the 2nd quarter worth approximately $50,000. Wilmington Savings Fund Society FSB purchased a new position in shares of COPT Defense Properties during the third quarter valued at $91,000. Quarry LP raised its position in COPT Defense Properties by 711.4% during the second quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after buying an additional 3,052 shares during the period. KBC Group NV lifted its stake in COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after acquiring an additional 840 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in COPT Defense Properties during the 1st quarter worth about $100,000.

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.