COPT Defense Properties (NYSE:CDP) Hits New 1-Year High - Here's Why

COPT Defense Properties (NYSE:CDP - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $32.61 and last traded at $32.58, with a volume of 21378 shares. The stock had previously closed at $32.29.

Analyst Ratings Changes

CDP has been the subject of several recent analyst reports. Wedbush boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Truist Financial boosted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Thursday, August 29th. Evercore ISI upped their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company decreased their target price 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 target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, COPT Defense Properties presently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

COPT Defense Properties Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The firm's fifty day moving average price is $30.39 and its 200 day moving average price is $27.12.

COPT Defense Properties (NYSE:CDP - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). The firm had revenue of $187.34 million for the quarter, compared to analysts' expectations of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, equities research analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties's payout ratio is -113.46%.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares of the company's stock, valued at $58,820. The trade was a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.06% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Heritage Wealth Advisors purchased a new stake in shares of COPT Defense Properties during the first quarter worth about $39,000. Spirit of America Management Corp NY acquired a new stake in shares of COPT Defense Properties during the second quarter worth $50,000. Quarry LP grew its holdings 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 buying an additional 3,052 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of COPT Defense Properties in the 1st quarter valued at $100,000. Finally, Lazard Asset Management LLC acquired a new position in shares of COPT Defense Properties in the 1st quarter valued at $102,000.

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.