COPT Defense Properties (NYSE:CDP) PT Lowered to $32.00 at Wells Fargo & Company

COPT Defense Properties (NYSE:CDP) had its price target reduced by Wells Fargo & Company from $33.00 to $32.00 in a report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CDP. Evercore ISI increased their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Wedbush increased their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an outperform rating in a research note on Monday, August 5th. Truist Financial boosted their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a neutral rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $30.00.

COPT Defense Properties Stock Up 2.0 %

Shares of CDP stock opened at $30.11 on Wednesday. COPT Defense Properties has a one year low of $22.20 and a one year high of $30.15. 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 has a fifty day moving average price of $28.34 and a 200 day moving average price of $25.61. The stock has a market cap of $3.39 billion, a P/E ratio of -27.88, a price-to-earnings-growth ratio of 2.79 and a beta of 0.99.

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 business had revenue of $187.34 million for the quarter, compared to the consensus estimate of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. COPT Defense Properties’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Insider Transactions at COPT Defense Properties

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of COPT Defense Properties during the first quarter valued at $36,000. Heritage Wealth Advisors bought a new position in shares of COPT Defense Properties in the 1st quarter valued at about $39,000. Spirit of America Management Corp NY bought a new position in shares of COPT Defense Properties in the 2nd quarter valued at about $50,000. 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 worth $87,000 after buying an additional 3,052 shares during the period. Finally, Bessemer Group Inc. acquired a new position in COPT Defense Properties in the first quarter valued at approximately $100,000.

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.