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

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

A number of other research firms have also weighed in on CDP. Wedbush increased their target price 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 raised their price target 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 boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, COPT Defense Properties presently has an average rating of Moderate Buy and an average price target of $29.50.

COPT Defense Properties Trading Down 0.1 %

Shares of CDP opened at $29.79 on Friday. The company’s fifty day simple moving average is $27.56 and its 200-day simple moving average is $25.29. The company has a market cap of $3.36 billion, a P/E ratio of -27.58, a P/E/G ratio of 2.83 and a beta of 0.98. 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 has a twelve month low of $22.20 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The firm had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts expect that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Dividend Announcement

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

Hedge Funds Weigh In On COPT Defense Properties

A number of large investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in shares of COPT Defense Properties in the 1st quarter valued at $36,000. Heritage Wealth Advisors bought a new position in COPT Defense Properties in the first quarter worth about $39,000. Spirit of America Management Corp NY purchased a new stake in shares of COPT Defense Properties during the second quarter valued at about $50,000. Quarry LP boosted its holdings in shares of COPT Defense Properties by 711.4% in the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock valued at $87,000 after buying an additional 3,052 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of COPT Defense Properties in the 1st quarter worth approximately $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.