COPT Defense Properties (NYSE:CDP) Price Target Raised to $38.00

COPT Defense Properties (NYSE:CDP) had its target price boosted by BTIG Research from $33.00 to $38.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Evercore ISI upped their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush increased their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company decreased 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, September 11th. Finally, Truist Financial upped their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.75.

COPT Defense Properties Stock Up 0.4 %

NYSE CDP opened at $32.96 on Wednesday. The stock has a market capitalization of $3.71 billion, a P/E ratio of 27.02 and a beta of 0.98. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a fifty day moving average of $31.58 and a 200-day moving average of $28.51.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32). The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. On average, equities research analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s payout ratio is presently 96.72%.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On COPT Defense Properties

Several institutional investors and hedge funds have recently modified their holdings of CDP. Price T Rowe Associates Inc. MD acquired a new position in COPT Defense Properties in the 1st quarter worth $1,702,000. California State Teachers Retirement System acquired a new stake in shares of COPT Defense Properties in the 1st quarter valued at about $2,721,000. Millennium Management LLC lifted its holdings in shares of COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after purchasing an additional 1,293,761 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of COPT Defense Properties by 66.5% during the second quarter. Hsbc Holdings PLC now owns 233,928 shares of the company’s stock worth $5,808,000 after buying an additional 93,396 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of COPT Defense Properties during the first quarter worth about $1,255,000.

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.