COPT Defense Properties (NYSE:CDP) Shares Gap Down - Here's What Happened

Shares of COPT Defense Properties (NYSE:CDP - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $26.69, but opened at $25.31. COPT Defense Properties shares last traded at $25.66, with a volume of 112,528 shares traded.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on COPT Defense Properties in a report on Monday, March 17th. They issued a "buy" rating and a $31.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.43.

COPT Defense Properties Trading Down 3.4 %

The company has a quick ratio of 2.38, a current ratio of 2.47 and a debt-to-equity ratio of 1.56. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 20.89 and a beta of 0.92. The business's fifty day moving average is $26.57 and its two-hundred day moving average is $29.38.

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

COPT Defense Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were given a dividend of $0.305 per share. This is a positive change from COPT Defense Properties's previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a yield of 4.73%. The ex-dividend date was Monday, March 31st. COPT Defense Properties's dividend payout ratio is 99.19%.

Hedge Funds Weigh In On COPT Defense Properties

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of COPT Defense Properties during the 4th quarter worth $16,063,000. KBC Group NV boosted its holdings in COPT Defense Properties by 33.4% in the fourth quarter. KBC Group NV now owns 5,081 shares of the company's stock valued at $157,000 after acquiring an additional 1,271 shares during the last quarter. Nordea Investment Management AB raised its position in shares of COPT Defense Properties by 5.1% in the 4th quarter. Nordea Investment Management AB now owns 376,938 shares of the company's stock worth $11,666,000 after acquiring an additional 18,278 shares in the last quarter. JPMorgan Chase & Co. increased its stake in COPT Defense Properties by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company's stock valued at $81,689,000 after purchasing an additional 710,491 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of COPT Defense Properties by 192.9% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company's stock worth $35,847,000 after purchasing an additional 762,840 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.