Weekly Research Analysts’ Ratings Changes for COPT Defense Properties (CDP)

Several brokerages have updated their recommendations and price targets on shares of COPT Defense Properties (NYSE: CDP) in the last few weeks:

• 9/11/2024 – COPT Defense Properties had its price target lowered by analysts at Wells Fargo & Company from $33.00 to $32.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – COPT Defense Properties had its price target raised by analysts at JPMorgan Chase & Co. from $26.00 to $31.00. They now have a “neutral” rating on the stock.
• 8/30/2024 – COPT Defense Properties had its price target raised by analysts at Wells Fargo & Company from $31.00 to $33.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – COPT Defense Properties had its price target raised by analysts at Truist Financial Co. from $27.00 to $31.00. They now have a “hold” rating on the stock.
• 8/5/2024 – COPT Defense Properties had its price target raised by analysts at Wedbush from $28.00 to $33.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – COPT Defense Properties had its price target raised by analysts at Evercore ISI from $28.00 to $33.00. They now have an “outperform” rating on the stock.

COPT Defense Properties Price Performance

NYSE CDP opened at $29.33 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The stock’s fifty day moving average price is $28.16 and its 200 day moving average price is $25.53. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $30.05. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -27.16, a PEG ratio of 2.76 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last released its earnings results 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). The firm had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. COPT Defense Properties’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, equities research analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Insiders Place Their Bets

In related news, COO Britt A. Snider purchased 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, with a total value of $29,410.00. Following the transaction, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is owned by insiders.

Institutional Investors Weigh In On COPT Defense Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in shares of COPT Defense Properties during the 2nd quarter valued at about $886,000. Point72 Asset Management L.P. grew its position in shares of COPT Defense Properties by 18.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 24,922 shares of the company’s stock valued at $624,000 after acquiring an additional 3,922 shares during the period. Quarry LP grew 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 acquiring an additional 3,052 shares during the period. Algert Global LLC grew its position in shares of COPT Defense Properties by 20.4% during the 2nd quarter. Algert Global LLC now owns 372,170 shares of the company’s stock valued at $9,315,000 after acquiring an additional 62,998 shares during the period. Finally, Lighthouse Investment Partners LLC grew its position in shares of COPT Defense Properties by 140.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company’s stock valued at $7,509,000 after acquiring an additional 175,000 shares during the period.

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.