COPT Defense Properties (NYSE:CDP) Stock Has Average Target Price of $38.00 According to Brokerages

COPT Defense Properties (NYSE:CDP) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.00.

CDP has been the subject of a number of research analyst reports. Citigroup boosted their price target on COPT Defense Properties from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Evercore reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of COPT Defense Properties in a research note on Monday, July 27th. Truist Financial lifted their target price on COPT Defense Properties from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, August 24th. Weiss Ratings reissued a “buy (b)” rating on shares of COPT Defense Properties in a research note on Thursday, October 15th. Finally, Wells Fargo & Company increased their target price on shares of COPT Defense Properties from $36.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st.

Hedge Funds Weigh In On COPT Defense Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of COPT Defense Properties by 0.5% during the second quarter. State Street Corp now owns 6,871,138 shares of the company’s stock worth $252,139,000 after buying an additional 34,561 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of COPT Defense Properties by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,682,296 shares of the company’s stock valued at $51,480,000 after purchasing an additional 25,026 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of COPT Defense Properties by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 1,317,391 shares of the company’s stock valued at $40,312,000 after purchasing an additional 18,758 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of COPT Defense Properties during the third quarter valued at about $28,030,000. Finally, Leeward Investments LLC MA bought a new stake in shares of COPT Defense Properties during the third quarter worth about $17,840,000.

COPT Defense Properties Trading Up 0.6%

Shares of COPT Defense Properties stock opened at $34.13 on Thursday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.64. COPT Defense Properties has a 12-month low of $27.06 and a 12-month high of $38.90. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 12.16 and a beta of 0.77. The firm’s 50-day moving average price is $34.79 and its two-hundred day moving average price is $33.46.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, July 27th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.33 by $0.07. The company had revenue of $197.39 million during the quarter, compared to analysts’ expectations of $189.36 million. COPT Defense Properties had a net margin of 20.94% and a return on equity of 10.48%. During the same period in the previous year, the company earned $0.34 EPS. On average, analysts forecast that COPT Defense Properties will post 2.78 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Wednesday, September 30th. COPT Defense Properties’s dividend payout ratio is currently 88.89%.

COPT Defense Properties Company Profile

COPT Defense Properties is a real estate investment trust that owns, develops, manages and leases properties designed to support the U.S. government, defense and information technology sectors. Its portfolio includes office buildings, data centers, specialized facilities and other mission-critical properties leased primarily to government agencies, defense contractors and technology companies.

The company’s properties are concentrated in key defense and national security markets, including Northern Virginia, suburban Maryland and the broader Washington, DC, region.