COPT Defense Properties (NYSE:CDP) Receives $32.88 Average Target Price from Analysts

Shares of COPT Defense Properties (NYSE:CDP) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $32.88.

CDP has been the topic of a number of recent analyst reports. BTIG Research increased their price target on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Jefferies Financial Group decreased their target price on COPT Defense Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Evercore ISI boosted their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial increased their price objective 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.

COPT Defense Properties Stock Up 1.3 %

Shares of CDP stock opened at $29.63 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The stock has a 50 day moving average of $31.48 and a 200 day moving average of $30.07. The stock has a market cap of $3.34 billion, a P/E ratio of 24.29 and a beta of 0.99.

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

COPT Defense Properties Dividend Announcement

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 paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

Institutional Investors Weigh In On COPT Defense Properties

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its position in COPT Defense Properties by 32.5% in the third quarter. Thrivent Financial for Lutherans now owns 55,516 shares of the company’s stock valued at $1,684,000 after purchasing an additional 13,606 shares during the period. Intech Investment Management LLC boosted its stake in COPT Defense Properties by 82.3% during the third quarter. Intech Investment Management LLC now owns 38,874 shares of the company’s stock worth $1,179,000 after buying an additional 17,553 shares during the period. Millennium Management LLC increased its position in shares of COPT Defense Properties by 65.3% during the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after acquiring an additional 1,293,761 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of COPT Defense Properties by 66.5% in the 2nd quarter. Hsbc Holdings PLC now owns 233,928 shares of the company’s stock valued at $5,808,000 after acquiring an additional 93,396 shares during the period. Finally, FMR LLC lifted its holdings in shares of COPT Defense Properties by 1.8% in the 3rd quarter. FMR LLC now owns 2,763,277 shares of the company’s stock worth $83,810,000 after acquiring an additional 49,300 shares during the last quarter.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.