Analysts Set COPT Defense Properties (NYSE:CDP) Target Price at $32.00

Shares of COPT Defense Properties (NYSE:CDP) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $32.00.

A number of equities research analysts have weighed in on CDP shares. Wells Fargo & Company cut their price objective 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. BTIG Research upped their price target on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Truist Financial lifted their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Evercore ISI increased their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th.

COPT Defense Properties Trading Down 0.3 %

CDP opened at $31.03 on Tuesday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The stock has a market cap of $3.50 billion, a PE ratio of 25.43 and a beta of 0.98. The business has a 50 day moving average of $32.01 and a 200-day moving average of $29.39.

COPT Defense Properties (NYSE:CDP) last announced 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 analysts’ expectations 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Equities research analysts predict that COPT Defense Properties will post 2.58 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

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 given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.80%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Hedge Funds Weigh In On COPT Defense Properties

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its stake in shares of COPT Defense Properties by 65.3% in the second 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 grew its position in COPT Defense Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after purchasing an additional 21,388 shares during the period. FMR LLC raised its stake in COPT Defense Properties by 1.8% during the 3rd quarter. FMR LLC now owns 2,763,277 shares of the company’s stock valued at $83,810,000 after buying an additional 49,300 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of COPT Defense Properties by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,522,955 shares of the company’s stock valued at $76,521,000 after buying an additional 18,770 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of 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 during the last quarter.

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.