COPT Defense Properties (NYSE:CDP) Sets New 12-Month High at $30.15

COPT Defense Properties (NYSE:CDP)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $30.15 and last traded at $30.10, with a volume of 887882 shares traded. The stock had previously closed at $29.53.

Analyst Upgrades and Downgrades

CDP has been the topic of several recent analyst reports. 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. Wells Fargo & Company dropped their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore ISI boosted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial increased their price target on shares of 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, Wedbush boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, COPT Defense Properties presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

COPT Defense Properties Trading Up 1.9 %

The business’s 50-day moving average price is $28.34 and its 200-day moving average price is $25.62. The firm has a market capitalization of $3.39 billion, a PE ratio of -27.87, a price-to-earnings-growth ratio of 2.79 and a beta of 0.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The business had revenue of $187.34 million for the quarter, compared to analysts’ expectations of $166.11 million. During the same period in the previous year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently announced 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 of this dividend is Monday, September 30th. This represents a $1.18 annualized dividend and a dividend yield of 3.92%. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

Insider Transactions at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Institutional Trading of COPT Defense Properties

Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in COPT Defense Properties during the first quarter worth about $36,000. Heritage Wealth Advisors purchased a new position in shares of COPT Defense Properties during the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY acquired a new stake in shares of COPT Defense Properties in the 2nd quarter valued at approximately $50,000. Quarry LP boosted its stake in shares of COPT Defense Properties by 711.4% in the second quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after buying an additional 3,052 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new position in COPT Defense Properties during the first quarter worth $100,000.

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.