COPT Defense Properties (NYSE:CDP) Shares Up 0.3% – Here’s What Happened

Shares of COPT Defense Properties (NYSE:CDP) were up 0.3% on Wednesday . The stock traded as high as $32.45 and last traded at $32.24. Approximately 96,953 shares traded hands during trading, a decline of 89% from the average daily volume of 886,649 shares. The stock had previously closed at $32.14.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CDP shares. JPMorgan Chase & Co. increased their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. BTIG Research lifted their price target on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Truist Financial raised their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company reduced 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, Evercore ISI raised their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, COPT Defense Properties has an average rating of “Moderate Buy” and a consensus price target of $32.00.

COPT Defense Properties Stock Down 1.4 %

The business’s 50 day simple moving average is $32.00 and its 200-day simple moving average is $29.25. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 25.98 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, October 28th. The company reported $0.32 EPS 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 during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts expect that COPT Defense Properties will post 2.58 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in COPT Defense Properties by 32.5% during the third quarter. Thrivent Financial for Lutherans now owns 55,516 shares of the company’s stock valued at $1,684,000 after buying an additional 13,606 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of COPT Defense Properties by 82.3% in the 3rd quarter. Intech Investment Management LLC now owns 38,874 shares of the company’s stock valued at $1,179,000 after acquiring an additional 17,553 shares in the last quarter. Millennium Management LLC lifted its holdings in COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after purchasing an additional 1,293,761 shares during the last quarter. Hsbc Holdings PLC boosted its position in COPT Defense Properties by 66.5% during the second quarter. Hsbc Holdings PLC now owns 233,928 shares of the company’s stock worth $5,808,000 after purchasing an additional 93,396 shares during the period. Finally, FMR LLC grew its holdings in COPT Defense Properties by 1.8% during the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock valued at $83,810,000 after purchasing an additional 49,300 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.