COPT Defense Properties (NYSE:CDP) Given New $38.00 Price Target at BTIG Research

COPT Defense Properties (NYSE:CDP) had its price objective raised by BTIG Research from $33.00 to $38.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the company. Truist Financial increased 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. Wedbush increased their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective 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 report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.75.

COPT Defense Properties Stock Up 0.4 %

Shares of CDP stock opened at $32.96 on Wednesday. The firm’s fifty day moving average price is $31.58 and its two-hundred day moving average price is $28.51. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.71 billion, a P/E ratio of 27.02 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its 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 net margin of 18.34% and a return on equity of 8.99%. 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 firm posted $0.60 EPS. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.295 dividend. 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 3.58%. COPT Defense Properties’s dividend payout ratio (DPR) is currently 96.72%.

Insiders Place Their Bets

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On COPT Defense Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Spirit of America Management Corp NY bought a new stake in shares of COPT Defense Properties in the second quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB acquired a new position in COPT Defense Properties in the 3rd quarter valued at $91,000. Quarry LP lifted its position in shares of COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after acquiring an additional 3,052 shares during the period. KBC Group NV grew its holdings in shares of COPT Defense Properties by 28.3% during the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after purchasing an additional 840 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of COPT Defense Properties in the first quarter worth $102,000.

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.