COPT Defense Properties (NYSE:CDP) Trading 0.2% Higher - Here's Why

COPT Defense Properties (NYSE:CDP - Get Free Report)'s stock price shot up 0.2% on Thursday . The company traded as high as $32.75 and last traded at $32.71. 67,578 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 885,001 shares. The stock had previously closed at $32.64.

Analyst Upgrades and Downgrades

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

COPT Defense Properties Stock Performance

The stock's fifty day simple moving average is $31.93 and its 200-day simple moving average is $29.01. 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 company has a market capitalization of $3.68 billion, a PE ratio of 26.75 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $189.23 million during the quarter, compared to analysts' expectations of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. On average, research analysts predict that COPT Defense Properties will post 2.58 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.62%. COPT Defense Properties's dividend payout ratio is presently 96.72%.

Institutional Trading of COPT Defense Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Spirit of America Management Corp NY purchased a new stake in COPT Defense Properties in the 2nd quarter valued at approximately $50,000. Quarry LP boosted its stake in shares of 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 acquiring an additional 3,052 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of COPT Defense Properties during the third quarter valued at $91,000. KBC Group NV increased its position in COPT Defense Properties by 28.3% during the 3rd quarter. KBC Group NV now owns 3,810 shares of the company's stock worth $116,000 after purchasing an additional 840 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in COPT Defense Properties by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company's stock valued at $134,000 after purchasing an additional 1,130 shares during 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.