COPT Defense Properties (NYSE:CDP) Receives $30.86 Average Price Target from Analysts

COPT Defense Properties (NYSE:CDP) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $30.86.

A number of research firms have issued reports on CDP. Wells Fargo & Company cut their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Wedbush boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Truist Financial upped their price target 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. JPMorgan Chase & Co. upped 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. Finally, Evercore ISI upped their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th.

Insider Activity

In related news, COO Britt A. Snider purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On COPT Defense Properties

Institutional investors have recently bought and sold shares of the stock. Spirit of America Management Corp NY bought a new position in shares of COPT Defense Properties during the second quarter valued at approximately $50,000. Quarry LP raised its position in shares of COPT Defense Properties by 711.4% during the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after purchasing an additional 3,052 shares during the period. Bessemer Group Inc. bought a new stake in COPT Defense Properties in the 1st quarter valued at $100,000. Lazard Asset Management LLC purchased a new position in shares of COPT Defense Properties in the 1st quarter worth $102,000. Finally, KBC Group NV grew its stake in shares of COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after buying an additional 840 shares in the last quarter.

COPT Defense Properties Stock Performance

CDP stock opened at $31.84 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. The stock has a 50-day moving average price of $31.33 and a 200-day moving average price of $28.27. The firm has a market cap of $3.59 billion, a PE ratio of 26.10 and a beta of 0.98. COPT Defense Properties has a 1-year low of $22.20 and a 1-year high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued its earnings results 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 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 quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, equities research analysts expect that COPT Defense Properties will post 2.57 earnings per share 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. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 3.71%. COPT Defense Properties’s payout ratio is 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.