COPT Defense Properties (NYSE:CDP) Trading Up 3.2% – Still a Buy?

COPT Defense Properties (NYSE:CDP)’s stock price was up 3.2% during mid-day trading on Monday . The company traded as high as $33.01 and last traded at $32.85. Approximately 906,855 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 867,509 shares. The stock had previously closed at $31.84.

Analyst Upgrades and Downgrades

CDP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. BTIG Research increased their price target on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company decreased 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. Truist Financial upped their price objective 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. Finally, Evercore ISI lifted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.75.

COPT Defense Properties Stock Performance

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 stock has a 50 day moving average of $31.47 and a 200 day moving average of $28.42. The stock has a market capitalization of $3.70 billion, a P/E ratio of 26.91 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 the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Equities analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.59%. COPT Defense Properties’s payout ratio is currently 96.72%.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On COPT Defense Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of COPT Defense Properties by 1.4% in the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after acquiring an additional 475 shares during the period. Fifth Third Bancorp raised its holdings in COPT Defense Properties by 1.0% during the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock worth $1,462,000 after purchasing an additional 574 shares in the last quarter. Arizona State Retirement System lifted its position in COPT Defense Properties by 1.9% in the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after purchasing an additional 578 shares during the period. Carmel Capital Partners LLC boosted its stake in COPT Defense Properties by 3.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock valued at $525,000 after purchasing an additional 584 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of COPT Defense Properties by 3.4% during the 3rd quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after purchasing an additional 701 shares during the period.

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.