COPT Defense Properties (NYSE:CDP) Shares Up 0.8% - Here's Why

COPT Defense Properties (NYSE:CDP - Get Free Report)'s share price was up 0.8% on Friday . The stock traded as high as $33.28 and last traded at $33.10. Approximately 377,917 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 872,969 shares. The stock had previously closed at $32.83.

Analyst Upgrades and Downgrades

CDP has been the subject of a number of recent research reports. Truist Financial increased their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, August 29th. BTIG Research raised their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday. Wells Fargo & Company reduced their target price on COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Wednesday, September 11th. Wedbush raised their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.75.

COPT Defense Properties Stock Up 0.4 %

The company has a market cap of $3.71 billion, a price-to-earnings ratio of 27.02 and a beta of 0.98. The stock's 50-day moving average is $31.58 and its 200-day moving average is $28.51. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced 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 company had revenue of $189.23 million for 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 revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.58%. COPT Defense Properties's dividend payout ratio (DPR) is presently 96.72%.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider acquired 1,000 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were purchased 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 approximately $58,820. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.06% of the company's stock.

Hedge Funds Weigh In On COPT Defense Properties

Several large investors have recently added to or reduced their stakes in CDP. Spirit of America Management Corp NY purchased a new stake in shares of COPT Defense Properties in the second quarter worth approximately $50,000. Quarry LP lifted its stake in COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company's stock valued at $87,000 after acquiring an additional 3,052 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in COPT Defense Properties during the 3rd quarter worth $91,000. Lazard Asset Management LLC bought a new stake in shares of COPT Defense Properties in the 1st quarter worth $102,000. Finally, KBC Group NV raised its holdings in shares of COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company's stock valued at $116,000 after purchasing an additional 840 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.