COPT Defense Properties (NYSE:CDP) Shares Down 0.4% - Here's What Happened

COPT Defense Properties (NYSE:CDP - Get Free Report) was down 0.4% during mid-day trading on Tuesday . The stock traded as low as $32.13 and last traded at $32.24. Approximately 125,382 shares changed hands during trading, a decline of 86% from the average daily volume of 886,261 shares. The stock had previously closed at $32.38.

Wall Street Analysts Forecast Growth

CDP has been the topic of several recent analyst reports. BTIG Research lifted their price target on COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Evercore ISI lifted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. upped their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, COPT Defense Properties has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

COPT Defense Properties Price Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The business has a 50 day moving average price of $32.00 and a 200-day moving average price of $29.25. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 26.34 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Research analysts predict that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

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 issued a dividend of $0.295 per share. The ex-dividend date of this dividend 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 is currently 96.72%.

Institutional Trading of COPT Defense Properties

Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of 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 acquiring an additional 13,606 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of COPT Defense Properties by 82.3% in the third quarter. Intech Investment Management LLC now owns 38,874 shares of the company's stock worth $1,179,000 after purchasing an additional 17,553 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 1,293,761 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of COPT Defense Properties by 66.5% during the second 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 during the last quarter. Finally, FMR LLC grew its holdings in COPT Defense Properties by 1.8% during the third quarter. FMR LLC now owns 2,763,277 shares of the company's stock worth $83,810,000 after buying an additional 49,300 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.