COPT Defense Properties (NYSE:CDP) Stock Price Up 0.4% Following Analyst Upgrade

COPT Defense Properties (NYSE:CDP)’s share price rose 0.4% during trading on Thursday after BTIG Research raised their price target on the stock from $33.00 to $38.00. BTIG Research currently has a buy rating on the stock. COPT Defense Properties traded as high as $33.36 and last traded at $32.83. Approximately 864,750 shares traded hands during trading, a decline of 1% from the average daily volume of 875,188 shares. The stock had previously closed at $32.70.

CDP has been the subject of several other research reports. Truist Financial upped their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Wedbush upped their price objective 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. Wells Fargo & Company cut their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Evercore ISI upped their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three investment 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 presently has an average rating of “Moderate Buy” and an average price target of $31.75.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On COPT Defense Properties

Large investors have recently made changes to their positions in the business. Millennium Management LLC increased its holdings in COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after buying an additional 1,293,761 shares during the last quarter. Geode Capital Management LLC increased its holdings in COPT Defense Properties by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after buying an additional 21,388 shares during the last quarter. FMR LLC increased its holdings in COPT Defense Properties by 1.8% in the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after buying an additional 49,300 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in COPT Defense Properties by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock worth $76,521,000 after buying an additional 18,770 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in COPT Defense Properties by 9.6% in the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $49,648,000 after buying an additional 174,206 shares during the last quarter.

COPT Defense Properties Stock Up 0.4 %

The business has a fifty day moving average of $31.47 and a 200 day moving average of $28.42. 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 company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The firm had revenue of $189.23 million during 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 company’s quarterly 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. On average, equities analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.59%. COPT Defense Properties’s payout ratio is currently 96.72%.

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.