COPT Defense Properties (NYSE:CDP) Sets New 52-Week High at $31.07

COPT Defense Properties (NYSE:CDP)’s share price hit a new 52-week high on Thursday . The company traded as high as $31.07 and last traded at $31.01, with a volume of 13423 shares traded. The stock had previously closed at $30.96.

Analysts Set New Price Targets

CDP has been the topic of a number of recent analyst reports. Wedbush lifted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial lifted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company dropped their target price 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.00.

COPT Defense Properties Trading Down 0.1 %

The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -28.67, a P/E/G ratio of 2.66 and a beta of 0.99. The firm’s 50-day moving average is $29.37 and its 200 day moving average is $26.17.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). The business had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. On average, equities analysts predict that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.295 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a dividend yield of 3.82%. COPT Defense Properties’s payout ratio is -109.26%.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the transaction, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is owned by corporate insiders.

Institutional Trading of COPT Defense Properties

A number of institutional investors have recently bought and sold shares of the company. State of Michigan Retirement System bought a new position in COPT Defense Properties during the first quarter worth $665,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of COPT Defense Properties in the 1st quarter valued at about $455,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in COPT Defense Properties in the 1st quarter valued at about $3,081,000. State of Alaska Department of Revenue acquired a new position in COPT Defense Properties during the 1st quarter worth approximately $1,581,000. Finally, Leeward Investments LLC MA bought a new position in COPT Defense Properties in the first quarter worth approximately $13,350,000.

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.