COPT Defense Properties (NYSE:CDP) Receives $30.86 Consensus PT from Brokerages

COPT Defense Properties (NYSE:CDP) has received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.75.

CDP has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Wedbush raised 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 Monday, August 5th. Truist Financial boosted 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. Evercore ISI lifted their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, 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 report on Wednesday, September 4th.

Insiders Place Their Bets

In related news, COO Britt A. Snider bought 1,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.06% of the stock is currently owned by insiders.

Institutional Trading of COPT Defense Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in COPT Defense Properties during the first quarter valued at $407,496,000. Earnest Partners LLC purchased a new position in shares of COPT Defense Properties during the 1st quarter worth about $129,344,000. Millennium Management LLC grew its holdings in COPT Defense Properties by 65.3% during the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after purchasing an additional 1,293,761 shares during the last quarter. Principal Financial Group Inc. raised its position in COPT Defense Properties by 179.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock worth $29,807,000 after purchasing an additional 764,859 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in COPT Defense Properties by 404.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 792,728 shares of the company’s stock worth $24,043,000 after purchasing an additional 635,705 shares during the last quarter.

COPT Defense Properties Trading Up 0.4 %

Shares of NYSE:CDP opened at $32.83 on Friday. The stock has a 50 day moving average of $31.52 and a 200 day moving average of $28.45. The company has a market cap of $3.70 billion, a PE ratio of 26.91 and a beta of 0.98. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 earnings per share. As a group, equities research analysts expect that COPT Defense Properties will post 2.57 EPS for the current 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 given a $0.295 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 3.59%. COPT Defense Properties’s dividend payout ratio is currently 96.72%.

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.