COPT Defense Properties (NYSE:CDP) Shares Up 2.1% – Here’s Why

COPT Defense Properties (NYSE:CDP)’s share price rose 2.1% on Friday . The company traded as high as $31.84 and last traded at $31.80. Approximately 1,165,582 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 857,555 shares. The stock had previously closed at $31.16.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their price target on 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. Evercore ISI increased their target price 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. lifted their price target 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. Truist Financial increased their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Wedbush lifted their target price 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.86.

COPT Defense Properties Price Performance

The company has a market cap of $3.59 billion, a price-to-earnings ratio of 26.10 and a beta of 0.98. The company’s 50-day simple moving average is $31.33 and its 200-day simple moving average is $28.25. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP) 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). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The firm had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. During the same period in the previous year, the business posted $0.60 earnings per share. COPT Defense Properties’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current 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 $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is 96.72%.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the transaction, the chief operating officer now owns 2,000 shares of the company’s stock, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by insiders.

Hedge Funds Weigh In On COPT Defense Properties

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in COPT Defense Properties during the first quarter valued at $1,702,000. California State Teachers Retirement System bought a new stake in shares of COPT Defense Properties during the 1st quarter valued at about $2,721,000. Public Employees Retirement System of Ohio bought a new stake in shares of COPT Defense Properties during the 1st quarter valued at about $7,571,000. Vanguard Group Inc. acquired a new stake in COPT Defense Properties during the first quarter worth about $407,496,000. Finally, Millennium Management LLC lifted its holdings in COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after acquiring an additional 1,293,761 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.