COPT Defense Properties (NYSE:CDP) Issues Earnings Results

Key Points

• COPT Defense Properties reported an earnings per share (EPS) of $0.68 for the quarter, surpassing analysts' expectations of $0.67.
• The company announced a quarterly dividend of $0.305, resulting in an annualized dividend of $1.22 and a yield of 4.37%.
• Wells Fargo & Company has decreased their target price for COPT Defense Properties from $36.00 to $30.00, while maintaining an "overweight" rating.

COPT Defense Properties (NYSE:CDP - Get Free Report) posted its earnings results on Monday. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.01, Zacks reports. COPT Defense Properties had a net margin of 18.86% and a return on equity of 9.19%.

COPT Defense Properties Stock Performance

Shares of CDP traded down $0.09 during mid-day trading on Monday, reaching $27.94. 1,002,643 shares of the company's stock were exchanged, compared to its average volume of 954,027. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.21 and a quick ratio of 3.21. The business's fifty day simple moving average is $27.99 and its 200-day simple moving average is $27.57. COPT Defense Properties has a 52-week low of $23.92 and a 52-week high of $34.22. The stock has a market capitalization of $3.15 billion, a PE ratio of 22.35 and a beta of 0.87.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Monday, June 30th were paid a $0.305 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.22 annualized dividend and a yield of 4.37%. COPT Defense Properties's dividend payout ratio is currently 97.60%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their target price on shares of COPT Defense Properties from $36.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, COPT Defense Properties presently has an average rating of "Moderate Buy" and an average price target of $33.14.

Insider Buying and Selling at COPT Defense Properties

In other COPT Defense Properties news, Director Robert L. Denton sold 4,398 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC lifted its position in COPT Defense Properties by 152.4% during the 1st quarter. Jane Street Group LLC now owns 214,122 shares of the company's stock worth $5,839,000 after acquiring an additional 129,303 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in COPT Defense Properties by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 834,042 shares of the company's stock worth $22,744,000 after buying an additional 39,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of COPT Defense Properties by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,030 shares of the company's stock worth $1,828,000 after purchasing an additional 2,931 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of COPT Defense Properties by 12.1% in the first quarter. Royal Bank of Canada now owns 104,602 shares of the company's stock worth $2,853,000 after purchasing an additional 11,316 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.