COPT Defense Properties (NYSE:CDP) Reaches New 52-Week High at $29.50

Shares of COPT Defense Properties (NYSE:CDP) reached a new 52-week high on Thursday . The stock traded as high as $29.50 and last traded at $28.93, with a volume of 16320 shares changing hands. The stock had previously closed at $29.04.

Analyst Ratings Changes

CDP has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wedbush lifted 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 Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.43.

COPT Defense Properties Trading Down 0.2 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17. The firm has a fifty day moving average price of $26.33 and a 200 day moving average price of $24.78. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -26.89, a P/E/G ratio of 2.73 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The firm had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, equities analysts predict that COPT Defense Properties will post 2.56 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.295 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 4.07%. COPT Defense Properties’s dividend payout ratio is -109.26%.

Institutional Investors Weigh In On COPT Defense Properties

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in shares of COPT Defense Properties in the first quarter valued at about $2,498,000. Swiss National Bank bought a new position in COPT Defense Properties in the 1st quarter valued at about $5,361,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in COPT Defense Properties in the 1st quarter valued at about $3,081,000. Leeward Investments LLC MA acquired a new stake in COPT Defense Properties during the first quarter worth approximately $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of COPT Defense Properties during the first quarter worth approximately $13,958,000.

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.