COPT Defense Properties (NYSE:CDP) PT Raised to $31.00

COPT Defense Properties (NYSE:CDP) had its price target upped by JPMorgan Chase & Co. from $26.00 to $31.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

CDP has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the stock an overweight rating in a research note on Friday, August 30th. 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. Truist Financial lifted their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a hold rating in a research note on Thursday, August 29th. Finally, Evercore ISI increased their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, COPT Defense Properties currently has a consensus rating of Moderate Buy and a consensus price target of $30.13.

COPT Defense Properties Stock Performance

CDP stock opened at $29.09 on Wednesday. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. The company has a 50-day simple moving average of $27.92 and a 200 day simple moving average of $25.43. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $30.05.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

Institutional Investors Weigh In On COPT Defense Properties

Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in COPT Defense Properties during the 1st quarter worth approximately $36,000. Heritage Wealth Advisors purchased a new position in shares of COPT Defense Properties during the first quarter valued at $39,000. Spirit of America Management Corp NY acquired a new position in COPT Defense Properties during the second quarter valued at $50,000. Quarry LP lifted its stake in COPT Defense Properties by 711.4% in the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in COPT Defense Properties during the 1st quarter worth about $100,000.

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.