COPT Defense Properties’ (CDP) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of COPT Defense Properties (NYSE:CDP) in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has a $28.00 price objective on the stock, up from their previous price objective of $27.00.

Several other brokerages have also recently issued reports on CDP. Jefferies Financial Group raised COPT Defense Properties from a hold rating to a buy rating and upped their price objective for the stock from $26.00 to $28.00 in a report on Wednesday, February 21st. Evercore ISI raised shares of COPT Defense Properties from an in-line rating to an outperform rating and upped their price target for the company from $27.00 to $28.00 in a research note on Monday, February 12th. Finally, Citigroup reissued a neutral rating and issued a $25.00 price objective (down from $29.00) on shares of COPT Defense Properties in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, COPT Defense Properties currently has an average rating of Moderate Buy and a consensus target price of $27.00.

COPT Defense Properties Price Performance

NYSE:CDP opened at $23.91 on Monday. The business’s 50-day moving average is $23.76 and its 200 day moving average is $24.18. COPT Defense Properties has a 12 month low of $21.76 and a 12 month high of $26.80. The company has a market capitalization of $2.69 billion, a P/E ratio of -22.14, a P/E/G ratio of 2.29 and a beta of 0.93. The company has a current ratio of 3.66, a quick ratio of 3.36 and a debt-to-equity ratio of 1.58.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 29th were given a $0.295 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 4.94%. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new position in shares of COPT Defense Properties during the 1st quarter worth about $10,296,000. Securian Asset Management Inc. bought a new stake in COPT Defense Properties in the first quarter worth about $223,000. Yousif Capital Management LLC purchased a new position in shares of COPT Defense Properties during the first quarter valued at approximately $1,236,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of COPT Defense Properties during the first quarter valued at approximately $21,211,000. Finally, New York State Teachers Retirement System bought a new position in shares of COPT Defense Properties during the first quarter valued at approximately $3,391,000.

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.