COPT Defense Properties (NYSE:CDP) Short Interest Down 7.1% in March

COPT Defense Properties (NYSE:CDP) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 3,520,000 shares, a drop of 7.1% from the March 15th total of 3,790,000 shares. Based on an average daily volume of 941,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages have issued reports on CDP. Jefferies Financial Group raised COPT Defense Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $26.00 to $28.00 in a report on Wednesday, February 21st. Citigroup reaffirmed a “neutral” rating and set a $25.00 price target (down previously from $29.00) on shares of COPT Defense Properties in a report on Friday, March 22nd. Truist Financial cut their price target on COPT Defense Properties from $28.00 to $27.00 and set a “hold” rating for the company in a report on Thursday, December 21st. Evercore ISI raised COPT Defense Properties from an “in-line” rating to an “outperform” rating and raised their price target for the company from $27.00 to $28.00 in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. downgraded COPT Defense Properties from an “overweight” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Monday, December 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.86.

COPT Defense Properties Trading Down 1.4 %

CDP stock opened at $22.85 on Tuesday. The business has a 50-day simple moving average of $23.95 and a 200 day simple moving average of $24.24. COPT Defense Properties has a 52 week low of $21.73 and a 52 week high of $26.80. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 1.59.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 29th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.29. COPT Defense Properties’s payout ratio is -176.12%.

COPT Defense Properties Company Profile

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.