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

COPT Defense Properties (NYSE:CDP) had its target price increased by Evercore ISI from $33.00 to $36.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company cut their target price on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price 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. Wedbush increased their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial increased their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and an average price target of $30.38.

COPT Defense Properties Price Performance

Shares of CDP stock opened at $31.94 on Wednesday. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $33.05. The stock has a market cap of $3.60 billion, a PE ratio of 26.18 and a beta of 0.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 2.38. The firm’s 50 day moving average price is $30.75 and its two-hundred day moving average price is $27.39.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data 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 business had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. During the same period in the previous year, the business posted $0.60 earnings per share. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a dividend of $0.295 per share. The ex-dividend date was Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.69%. COPT Defense Properties’s payout ratio is 96.72%.

Insider Buying and Selling

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now owns 2,000 shares of the company’s stock, valued at approximately $58,820. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On COPT Defense Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in COPT Defense Properties by 1.4% in the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after buying an additional 475 shares during the last quarter. Fifth Third Bancorp increased its stake in COPT Defense Properties by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after buying an additional 574 shares during the last quarter. Arizona State Retirement System increased its stake in COPT Defense Properties by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock valued at $789,000 after buying an additional 578 shares during the last quarter. Carmel Capital Partners LLC increased its stake in COPT Defense Properties by 3.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock valued at $525,000 after buying an additional 584 shares during the last quarter. Finally, Presima Securities ULC grew its position in shares of COPT Defense Properties by 1.3% in the 3rd quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock valued at $1,832,000 after acquiring an additional 800 shares during the period.

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.