Insider Buying: COPT Defense Properties (NYSE:CDP) COO Acquires 1,000 Shares of Stock

COPT Defense Properties (NYSE:CDP) COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $29.41 per share, with a total value of $29,410.00. Following the transaction, the chief operating officer now owns 2,000 shares of the company’s stock, valued at approximately $58,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

COPT Defense Properties Price Performance

Shares of COPT Defense Properties stock opened at $29.33 on Thursday. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $30.05. The stock has a 50 day moving average of $28.16 and a 200 day moving average of $25.53. The firm has a market cap of $3.30 billion, a PE ratio of -27.16, a PEG ratio of 2.76 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last released its earnings results 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). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company had revenue of $187.34 million for the quarter, compared to the consensus estimate of $166.11 million. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

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 given a dividend of $0.295 per share. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a dividend yield of 4.02%. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial lifted their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Wedbush raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CDP. Sanctuary Advisors LLC bought a new position in shares of COPT Defense Properties in the second quarter worth about $886,000. Point72 Asset Management L.P. raised its position in shares of COPT Defense Properties by 18.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 24,922 shares of the company’s stock worth $624,000 after acquiring an additional 3,922 shares in the last quarter. Quarry LP boosted its position in 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 purchasing an additional 3,052 shares in the last quarter. Algert Global LLC grew its stake in COPT Defense Properties by 20.4% in the second quarter. Algert Global LLC now owns 372,170 shares of the company’s stock valued at $9,315,000 after purchasing an additional 62,998 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its holdings in COPT Defense Properties by 140.0% in the second quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company’s stock worth $7,509,000 after purchasing an additional 175,000 shares in the last quarter.

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.