COPT Defense Properties (NYSE:CDP) Given New $38.00 Price Target at BTIG Research

COPT Defense Properties (NYSE:CDP) had its target price upped by BTIG Research from $33.00 to $38.00 in a research report released on Wednesday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Wedbush lifted their price objective 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. Evercore ISI boosted their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective 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. JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, COPT Defense Properties has an average rating of “Moderate Buy” and an average target price of $31.75.

COPT Defense Properties Trading Up 0.4 %

NYSE:CDP opened at $32.95 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a market cap of $3.71 billion, a PE ratio of 27.01 and a beta of 0.98. The firm has a 50-day moving average of $31.58 and a 200-day moving average of $28.53.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.58%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Insider Activity at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $29.41 per share, with a total value of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On COPT Defense Properties

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of COPT Defense Properties by 1.4% in the third quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after purchasing an additional 475 shares during the period. Fifth Third Bancorp raised its holdings in COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after acquiring an additional 574 shares during the period. Arizona State Retirement System lifted its position in shares of COPT Defense Properties by 1.9% during the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after acquiring an additional 578 shares in the last quarter. Carmel Capital Partners LLC boosted its holdings in shares of COPT Defense Properties by 3.5% in the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after acquiring an additional 584 shares during the period. Finally, M&T Bank Corp grew its position in shares of COPT Defense Properties by 3.4% in the third quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after purchasing an additional 701 shares in 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.