COPT Defense Properties (NYSE:CDP) Receives $32.00 Average Price Target from Analysts

Shares of COPT Defense Properties (NYSE:CDP) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.00.

Several research analysts recently weighed in on the company. Truist Financial increased their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Evercore ISI lifted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. 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 report on Wednesday, September 4th. BTIG Research increased their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company cut their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th.

Hedge Funds Weigh In On COPT Defense Properties

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in shares of COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after acquiring an additional 1,293,761 shares during the period. Geode Capital Management LLC raised its holdings in shares of COPT Defense Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock valued at $88,797,000 after buying an additional 21,388 shares during the last quarter. FMR LLC boosted its position in shares of COPT Defense Properties by 1.8% during the third quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after buying an additional 49,300 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in COPT Defense Properties by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock worth $76,521,000 after buying an additional 18,770 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in COPT Defense Properties by 9.6% in the 2nd quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $49,648,000 after buying an additional 174,206 shares in the last quarter.

COPT Defense Properties Price Performance

Shares of NYSE CDP opened at $30.66 on Tuesday. The firm’s 50 day simple moving average is $32.00 and its 200-day simple moving average is $29.27. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 25.13 and a beta of 0.98. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data 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 analyst estimates of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Analysts expect that COPT Defense Properties will post 2.58 EPS for the current year.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given 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 dividend yield of 3.85%. COPT Defense Properties’s payout ratio is currently 96.72%.

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.