Wells Fargo & Company Raises COPT Defense Properties (NYSE:CDP) Price Target to $33.00

COPT Defense Properties (NYSE:CDP) had its target price hoisted by Wells Fargo & Company from $31.00 to $33.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on CDP. Truist Financial boosted their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a hold rating in a report on Thursday. Wedbush upped their price target 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. Finally, Evercore ISI upped their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $29.50.

COPT Defense Properties Stock Down 0.1 %

CDP stock opened at $29.79 on Friday. The company has a market cap of $3.36 billion, a P/E ratio of -27.58, a P/E/G ratio of 2.72 and a beta of 0.98. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $30.05. The company’s 50-day moving average price is $27.36 and its 200 day moving average price is $25.20. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The company had revenue of $187.34 million for the quarter, compared to analysts’ expectations of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, research analysts expect that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s payout ratio is -109.26%.

Hedge Funds Weigh In On COPT Defense Properties

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of COPT Defense Properties during the first quarter valued at approximately $407,496,000. Earnest Partners LLC purchased a new position in shares of COPT Defense Properties during the first quarter valued at approximately $129,344,000. Westwood Holdings Group Inc. purchased a new position in shares of COPT Defense Properties during the first quarter valued at approximately $90,045,000. Millennium Management LLC lifted its stake 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 buying an additional 1,293,761 shares during the period. Finally, Sei Investments Co. increased its position in COPT Defense Properties by 9.6% during the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $49,648,000 after purchasing an additional 174,206 shares during the last quarter.

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.