COPT Defense Properties (NYSE:CDP) Stock Price Down 0.3% - What's Next?

COPT Defense Properties (NYSE:CDP - Get Free Report)'s stock price dropped 0.3% on Friday . The stock traded as low as $32.52 and last traded at $32.52. Approximately 262,615 shares changed hands during trading, a decline of 70% from the average daily volume of 878,335 shares. The stock had previously closed at $32.61.

Analysts Set New Price Targets

CDP has been the subject of several recent analyst reports. Truist Financial increased their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a report on Wednesday. Wells Fargo & Company cut their price target on shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Evercore ISI raised their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, BTIG Research boosted their price target on COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

COPT Defense Properties Price Performance

The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 26.66 and a beta of 0.98. The company's 50-day simple moving average is $31.73 and its 200-day simple moving average is $28.72. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly 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 return on equity of 8.99% and a net margin of 18.34%. The firm had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. During the same period in the previous year, the business posted $0.60 earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.67%. COPT Defense Properties's dividend payout ratio (DPR) is presently 96.72%.

Insiders Place Their Bets

In related news, COO Britt A. Snider acquired 1,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.06% of the company's stock.

Institutional Trading of COPT Defense Properties

Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its position in COPT Defense Properties by 32.5% during the third quarter. Thrivent Financial for Lutherans now owns 55,516 shares of the company's stock worth $1,684,000 after purchasing an additional 13,606 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of COPT Defense Properties during the 1st quarter worth approximately $1,702,000. California State Teachers Retirement System acquired a new stake in shares of COPT Defense Properties during the 1st quarter worth approximately $2,721,000. Millennium Management LLC increased its stake in COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company's stock valued at $81,948,000 after acquiring an additional 1,293,761 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in COPT Defense Properties by 82.3% during the third quarter. Intech Investment Management LLC now owns 38,874 shares of the company's stock valued at $1,179,000 after purchasing an additional 17,553 shares in the last quarter.

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.

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