COPT Defense Properties (NYSE:CDP) Reaches New 12-Month High at $29.53

COPT Defense Properties (NYSE:CDP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.53 and last traded at $29.53, with a volume of 133139 shares changing hands. The stock had previously closed at $29.26.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CDP shares. Wedbush raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Evercore ISI 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 research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.43.

COPT Defense Properties Stock Performance

The stock's 50-day moving average is $27.15 and its 200-day moving average is $25.14. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -27.30, a P/E/G ratio of 2.72 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The company had revenue of $187.34 million during the quarter, compared to analysts' expectations of $166.11 million. COPT Defense Properties's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, analysts expect that COPT Defense Properties will post 2.56 EPS for the current year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.00%. COPT Defense Properties's dividend payout ratio is currently -109.26%.

Institutional Trading of COPT Defense Properties

A number of hedge funds and other institutional investors have recently modified their holdings of CDP. Global Retirement Partners LLC bought a new stake in shares of COPT Defense Properties in the 1st quarter worth about $36,000. Heritage Wealth Advisors bought a new position in COPT Defense Properties during the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY acquired a new stake in shares of COPT Defense Properties during the 2nd quarter valued at approximately $50,000. Quarry LP lifted its stake 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. Finally, Bessemer Group Inc. acquired a new stake in shares of COPT Defense Properties during the first quarter worth $100,000.

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.