Analysts Set COPT Defense Properties (NYSE:CDP) PT at $33.14

COPT Defense Properties (NYSE:CDP - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $33.14.

CDP has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on COPT Defense Properties in a report on Monday, March 17th. They issued a "buy" rating and a $31.00 target price for the company. Wells Fargo & Company reduced their price target on shares of COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, May 19th.

COPT Defense Properties Stock Performance

Shares of CDP stock traded down $0.18 during midday trading on Tuesday, hitting $28.58. The company had a trading volume of 819,140 shares, compared to its average volume of 949,439. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.47 and a quick ratio of 2.38. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 23.24 and a beta of 0.88. The company's 50 day simple moving average is $26.78 and its 200 day simple moving average is $28.36. COPT Defense Properties has a 52-week low of $23.90 and a 52-week high of $34.22.

COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.65. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. The business had revenue of $187.86 million for the quarter, compared to analyst estimates of $186.37 million. During the same period in the previous year, the business posted $0.62 earnings per share. The business's revenue was up 6.0% compared to the same quarter last year. Research analysts anticipate that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Monday, June 30th. COPT Defense Properties's dividend payout ratio (DPR) is presently 97.60%.

Insider Transactions at COPT Defense Properties

In other news, Director Robert L. Denton sold 4,398 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $26.70, for a total value of $117,426.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.42% of the company's stock.

Institutional Investors Weigh In On COPT Defense Properties

Several hedge funds have recently made changes to their positions in the business. abrdn plc increased its stake in shares of COPT Defense Properties by 72.9% during the 4th quarter. abrdn plc now owns 38,891 shares of the company's stock valued at $1,199,000 after acquiring an additional 16,399 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in COPT Defense Properties by 0.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 647,855 shares of the company's stock worth $20,051,000 after purchasing an additional 5,983 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of COPT Defense Properties by 17.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,611 shares of the company's stock valued at $731,000 after purchasing an additional 3,577 shares during the last quarter. Van ECK Associates Corp grew its position in COPT Defense Properties by 10.8% during the fourth quarter. Van ECK Associates Corp now owns 24,477 shares of the company's stock valued at $758,000 after acquiring an additional 2,392 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in COPT Defense Properties by 6.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 233,826 shares of the company's stock worth $7,258,000 after acquiring an additional 13,302 shares during the last quarter.

COPT Defense Properties Company Profile

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.