COPT Defense Properties (NYSE:CDP) Trading Down 0.3% – What’s Next?

Shares of COPT Defense Properties (NYSE:CDP) fell 0.3% on Friday . The stock traded as low as $32.52 and last traded at $32.52. 262,615 shares were traded during trading, a decline of 70% from the average session volume of 878,335 shares. The stock had previously closed at $32.61.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BTIG Research lifted their target price 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 lifted their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI increased their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

COPT Defense Properties Trading Down 1.3 %

The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 26.66 and a beta of 0.98. The business’s fifty day moving average price is $31.73 and its 200 day moving average price is $28.72.

COPT Defense Properties (NYSE:CDP) last announced its 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 company had revenue of $189.23 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.67%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s payout ratio is presently 96.72%.

Insider Buying and Selling at COPT Defense Properties

In other news, COO Britt A. Snider purchased 1,000 shares of the business’s stock in a transaction on 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 $58,820. The trade was a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in COPT Defense Properties in the third quarter worth approximately $91,000. Sanctuary Advisors LLC grew its position in shares of COPT Defense Properties by 13.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 42,381 shares of the company’s stock worth $1,349,000 after buying an additional 4,885 shares during the period. Geode Capital Management LLC increased its stake in shares of COPT Defense Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock valued at $88,797,000 after acquiring an additional 21,388 shares in the last quarter. Vestcor Inc lifted its position in shares of COPT Defense Properties by 1.8% during the 3rd quarter. Vestcor Inc now owns 101,165 shares of the company’s stock valued at $3,068,000 after acquiring an additional 1,760 shares during the period. Finally, M&T Bank Corp boosted its stake in COPT Defense Properties by 3.4% during the third quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock worth $644,000 after acquiring an additional 701 shares in the last quarter.

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.