COPT Defense Properties (NYSE:CDP) Stock Price Up 0.1% – Here’s Why

COPT Defense Properties (NYSE:CDP) shares were up 0.1% during trading on Thursday . The stock traded as high as $31.36 and last traded at $30.95. Approximately 78,960 shares traded hands during trading, a decline of 91% from the average daily volume of 887,086 shares. The stock had previously closed at $30.93.

Analyst Ratings Changes

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

COPT Defense Properties Stock Performance

The firm has a fifty day simple moving average of $32.00 and a 200-day simple moving average of $29.26. 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 cap of $3.50 billion, a PE ratio of 25.49 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). The firm had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. On average, research analysts forecast that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in COPT Defense Properties in the 3rd quarter valued at about $91,000. Sanctuary Advisors LLC increased its holdings in shares of COPT Defense Properties by 13.0% in the third quarter. Sanctuary Advisors LLC now owns 42,381 shares of the company’s stock valued at $1,349,000 after purchasing an additional 4,885 shares during the period. Geode Capital Management LLC raised its stake in shares of COPT Defense Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after purchasing an additional 21,388 shares during the last quarter. Vestcor Inc lifted its holdings in shares of COPT Defense Properties by 1.8% during the third quarter. Vestcor Inc now owns 101,165 shares of the company’s stock worth $3,068,000 after purchasing an additional 1,760 shares during the period. Finally, M&T Bank Corp grew its position in COPT Defense Properties by 3.4% in the 3rd quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after buying an additional 701 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.