COPT Defense Properties (NYSE:CDP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of COPT Defense Properties (NYSE:CDP) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.00.

CDP has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Wedbush lifted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Evercore ISI raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. 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, Truist Financial raised 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.

COPT Defense Properties Trading Up 1.0 %

CDP stock opened at $30.96 on Thursday. The business’s 50 day moving average is $29.37 and its 200-day moving average is $26.17. 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 cap of $3.49 billion, a P/E ratio of -28.67, a P/E/G ratio of 2.66 and a beta of 0.99. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $30.99.

COPT Defense Properties (NYSE:CDP) last posted its earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The firm had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. Equities analysts anticipate that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s payout ratio is -109.26%.

Insider Buying and Selling

In other news, COO Britt A. Snider purchased 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at approximately $58,820. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Heritage Wealth Advisors acquired a new stake in shares of COPT Defense Properties during the 1st quarter worth approximately $39,000. Spirit of America Management Corp NY purchased a new stake in shares of COPT Defense Properties in the second quarter worth approximately $50,000. Quarry LP boosted its position in shares of COPT Defense Properties by 711.4% during 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 during the last quarter. Bessemer Group Inc. bought a new stake in COPT Defense Properties during the first quarter worth $100,000. Finally, Lazard Asset Management LLC bought a new position in COPT Defense Properties during the 1st quarter valued at $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.