Truist Financial Forecasts Strong Price Appreciation for COPT Defense Properties (NYSE:CDP) Stock

COPT Defense Properties (NYSE:CDP - Get Free Report) had its price objective lifted by equities research analysts at Truist Financial from $31.00 to $33.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective points to a potential upside of 2.29% from the stock's current price.

Several other equities analysts also recently weighed in on the company. Evercore ISI raised their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on 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. Finally, BTIG Research increased their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

COPT Defense Properties Price Performance

Shares of NYSE CDP traded down $0.26 during midday trading on Wednesday, hitting $32.26. 836,004 shares of the company's stock were exchanged, compared to its average volume of 880,688. 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. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 26.44 and a beta of 0.98. The business's fifty day moving average price is $31.69 and its two-hundred day moving average price is $28.70.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly earnings data 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 company had revenue of $189.23 million for the quarter, compared to analysts' expectations 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 period last year, the company posted $0.60 EPS. As a group, research analysts forecast that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, with a total value of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.06% of the company's stock.

Hedge Funds Weigh In On COPT Defense Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its position 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 buying an additional 1,293,761 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of COPT Defense Properties by 179.5% in the second quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company's stock valued at $29,807,000 after purchasing an additional 764,859 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 valued at $24,043,000 after purchasing an additional 635,705 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in COPT Defense Properties by 443.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,261 shares of the company's stock worth $17,327,000 after acquiring an additional 564,794 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in COPT Defense Properties by 315.1% during the second quarter. AQR Capital Management LLC now owns 567,997 shares of the company's stock worth $13,978,000 after acquiring an additional 431,173 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.