COPT Defense Properties (NYSE:CDP) Trading 0.3% Higher After Analyst Upgrade

Shares of COPT Defense Properties (NYSE:CDP - Get Free Report) traded up 0.3% during trading on Thursday after Truist Financial raised their price target on the stock from $31.00 to $33.00. Truist Financial currently has a hold rating on the stock. COPT Defense Properties traded as high as $32.85 and last traded at $32.35. 122,929 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 877,507 shares. The stock had previously closed at $32.26.

Several other equities analysts have also issued reports on the company. BTIG Research lifted their target price 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 price objective 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. JPMorgan Chase & Co. increased their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered their target price 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.00.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the transaction, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On COPT Defense Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spirit of America Management Corp NY acquired a new stake in shares of COPT Defense Properties in the 2nd quarter worth $50,000. Wilmington Savings Fund Society FSB acquired a new stake in COPT Defense Properties during the third quarter worth about $91,000. Quarry LP increased 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 worth $87,000 after purchasing an additional 3,052 shares during the last quarter. KBC Group NV raised its stake in COPT Defense Properties by 28.3% during the third quarter. KBC Group NV now owns 3,810 shares of the company's stock worth $116,000 after purchasing an additional 840 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 Stock Performance

The firm has a market cap of $3.67 billion, a PE ratio of 26.72 and a beta of 0.98. 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 firm's 50 day moving average price is $31.73 and its two-hundred day moving average price is $28.72.

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 analysts' consensus estimates of $0.64 by ($0.32). The business had revenue of $189.23 million for the quarter, compared to analysts' expectations of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, research analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

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 issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties's dividend payout ratio (DPR) is currently 96.72%.

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.