COPT Defense Properties (NYSE:CDP) Shares Up 0.2% – Time to Buy?

COPT Defense Properties (NYSE:CDP)’s share price was up 0.2% during mid-day trading on Tuesday . The company traded as high as $32.38 and last traded at $32.29. Approximately 77,127 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 869,749 shares. The stock had previously closed at $32.23.

Wall Street Analyst Weigh In

CDP has been the topic of a number of research reports. BTIG Research upped their price target on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush boosted their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Evercore ISI increased their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

COPT Defense Properties Stock Performance

The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 26.91 and a beta of 0.98. The stock’s 50 day moving average is $31.47 and its two-hundred day moving average is $28.42. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 company had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. During the same period in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.59%. COPT Defense Properties’s dividend payout ratio (DPR) is 96.72%.

Insider Buying and Selling at COPT Defense Properties

In other news, COO Britt A. Snider bought 1,000 shares of the 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 acquisition, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CDP. Spirit of America Management Corp NY purchased a new stake in COPT Defense Properties in the 2nd quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of COPT Defense Properties in the 3rd quarter valued at approximately $91,000. 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. KBC Group NV boosted its stake in shares of COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after buying an additional 840 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in COPT Defense Properties during the first quarter worth $102,000.

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.