COPT Defense Properties (NYSE:CDP) Price Target Raised to $38.00

COPT Defense Properties (NYSE:CDP) had its price objective hoisted by investment analysts at BTIG Research from $33.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 15.75% from the company’s current price.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company lowered their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Truist Financial lifted their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wedbush boosted their price target on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI lifted their price objective on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, COPT Defense Properties currently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

COPT Defense Properties Trading Up 0.4 %

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

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 18.34% and a return on equity of 8.99%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, equities research analysts forecast that COPT Defense Properties will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On COPT Defense Properties

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spirit of America Management Corp NY acquired a new position in shares of COPT Defense Properties in the second quarter valued at approximately $50,000. Quarry LP increased its position in 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 acquiring an additional 3,052 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of COPT Defense Properties during the third quarter valued at $91,000. Lazard Asset Management LLC acquired a new position in shares of COPT Defense Properties during the first quarter worth $102,000. Finally, KBC Group NV grew its stake in shares of COPT Defense Properties by 28.3% in the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after purchasing an additional 840 shares during the last quarter.

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.