COPT Defense Properties (NYSE:CDP) Given New $35.00 Price Target at Jefferies Financial Group

COPT Defense Properties (NYSE:CDP) had its price objective lowered by Jefferies Financial Group from $37.00 to $35.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

CDP has been the subject of a number of other research reports. Evercore ISI boosted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company reduced their price objective on shares of 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. BTIG Research lifted their target price on shares of COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Truist Financial increased their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.88.

COPT Defense Properties Stock Down 0.2 %

NYSE:CDP opened at $30.88 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. The firm’s 50-day moving average price is $31.86 and its 200-day moving average price is $29.74. The company has a market capitalization of $3.48 billion, a PE ratio of 25.31 and a beta of 0.98. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business had revenue of $189.23 million during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter last year, the company posted $0.60 EPS. COPT Defense Properties’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts predict that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a yield of 3.82%. COPT Defense Properties’s dividend payout ratio (DPR) is 96.72%.

Hedge Funds Weigh In On COPT Defense Properties

A number of institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC lifted its holdings in COPT Defense Properties by 1.4% in the third quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after acquiring an additional 475 shares during the period. Arizona State Retirement System lifted its stake in shares of COPT Defense Properties by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after purchasing an additional 578 shares during the period. Carmel Capital Partners LLC boosted its holdings in shares of COPT Defense Properties by 3.5% in the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after buying an additional 584 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of COPT Defense Properties by 3.4% in the third quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock worth $644,000 after buying an additional 701 shares during the last quarter. Finally, Presima Securities ULC grew its position in COPT Defense Properties by 1.3% during the third quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock valued at $1,832,000 after buying an additional 800 shares during the period.

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.