COPT Defense Properties (NYSE:CDP) Stock Price Up 0.7% – Time to Buy?

COPT Defense Properties (NYSE:CDP)’s share price traded up 0.7% during mid-day trading on Monday . The company traded as high as $32.88 and last traded at $32.72. 426,236 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 883,821 shares. The stock had previously closed at $32.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CDP shares. BTIG Research raised their price objective on shares of COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI increased their price objective 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. Truist Financial lifted their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company decreased their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

COPT Defense Properties Stock Down 3.8 %

The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock has a 50-day simple moving average of $32.00 and a two-hundred day simple moving average of $29.25. The firm has a market cap of $3.49 billion, a PE ratio of 25.35 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share 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 for the quarter, compared to analysts’ expectations of $167.37 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. 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. Investors of record on Tuesday, December 31st will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

Hedge Funds Weigh In On COPT Defense Properties

A number of large investors have recently added to or reduced their stakes in CDP. Spirit of America Management Corp NY bought a new position in shares of COPT Defense Properties during the second quarter valued at about $50,000. Quarry LP boosted its holdings in COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after acquiring an additional 3,052 shares during the period. Wilmington Savings Fund Society FSB bought a new position in COPT Defense Properties during the 3rd quarter worth approximately $91,000. KBC Group NV increased its stake in COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after purchasing an additional 840 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in COPT Defense Properties by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock valued at $134,000 after purchasing an additional 1,130 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.