COPT Defense Properties (NYSE:CDP) Price Target Raised to $36.00

COPT Defense Properties (NYSE:CDP) had its price objective upped by Evercore ISI from $33.00 to $36.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently issued reports on CDP. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. raised their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial lifted their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Wedbush increased their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.38.

COPT Defense Properties Stock Up 0.6 %

Shares of NYSE CDP opened at $32.70 on Wednesday. The stock has a market cap of $3.68 billion, a P/E ratio of 26.80 and a beta of 0.99. The business’s fifty day simple moving average is $30.62 and its 200-day simple moving average is $27.29. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $33.05. 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 (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 analysts’ consensus estimates of $0.64 by ($0.32). 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 $189.23 million during the quarter, compared to analyst estimates of $167.37 million. During the same period in the prior year, the business earned $0.60 EPS. COPT Defense Properties’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were given a $0.295 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.61%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Insider Buying and Selling

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On COPT Defense Properties

Institutional investors have recently modified their holdings of the business. Asset Management One Co. Ltd. grew its position in COPT Defense Properties by 17.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 220,524 shares of the company’s stock worth $6,688,000 after purchasing an additional 32,362 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of COPT Defense Properties by 10.5% during the third quarter. Van ECK Associates Corp now owns 22,085 shares of the company’s stock worth $707,000 after buying an additional 2,104 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of COPT Defense Properties by 2.0% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 886,136 shares of the company’s stock worth $26,876,000 after buying an additional 17,306 shares during the last quarter. abrdn plc increased its position in COPT Defense Properties by 10.5% in the 3rd quarter. abrdn plc now owns 22,492 shares of the company’s stock valued at $682,000 after acquiring an additional 2,146 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in COPT Defense Properties during the 3rd quarter valued at approximately $236,000.

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.