Brokerages Set COPT Defense Properties (NYSE:CDP) Price Target at $30.86

Shares of COPT Defense Properties (NYSE:CDP) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $30.86.

A number of brokerages have issued reports on CDP. Truist Financial upped their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Wedbush increased their price target 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. Wells Fargo & Company reduced their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Evercore ISI increased their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised 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 report on Wednesday, September 4th.

Insiders Place Their Bets

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

Institutional Trading of COPT Defense Properties

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in COPT Defense Properties by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after buying an additional 21,388 shares during the last quarter. Vestcor Inc grew its stake in COPT Defense Properties by 1.8% in the 3rd quarter. Vestcor Inc now owns 101,165 shares of the company’s stock valued at $3,068,000 after acquiring an additional 1,760 shares during the last quarter. M&T Bank Corp grew its stake in COPT Defense Properties by 3.4% in the 3rd quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after acquiring an additional 701 shares during the last quarter. Barclays PLC boosted its stake in shares of COPT Defense Properties by 87.6% during the 3rd quarter. Barclays PLC now owns 218,999 shares of the company’s stock worth $6,643,000 after purchasing an additional 102,280 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of COPT Defense Properties by 1.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 140,780 shares of the company’s stock worth $4,270,000 after purchasing an additional 1,890 shares during the last quarter.

COPT Defense Properties Trading Up 2.2 %

NYSE:CDP opened at $31.84 on Friday. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38. The firm has a market cap of $3.59 billion, a P/E ratio of 26.10 and a beta of 0.98. The firm has a 50-day simple moving average of $31.33 and a 200-day simple moving average of $28.27.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). The firm had revenue of $189.23 million for the quarter, compared to the consensus estimate 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 revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Equities analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is currently 96.72%.

About COPT Defense Properties

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.