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

COPT Defense Properties (NYSE:CDP - Free Report) had its price objective increased by BTIG Research from $33.00 to $38.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

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

COPT Defense Properties Price Performance

Shares of CDP traded up $0.13 during trading hours on Wednesday, hitting $32.83. 864,750 shares of the company were exchanged, compared to its average volume of 875,188. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 26.91 and a beta of 0.98. The firm's fifty day moving average is $31.47 and its 200 day moving average is $28.42.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.32). The firm had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. On average, equities analysts anticipate that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.59%. COPT Defense Properties's payout ratio is 96.72%.

Insider Buying and Selling

In other COPT Defense Properties news, COO Britt A. Snider acquired 1,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost 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 of the company's stock, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.06% of the stock is owned by insiders.

Institutional Investors Weigh In On COPT Defense Properties

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake 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 valued at $29,807,000 after buying an additional 764,859 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in COPT Defense Properties by 404.8% during the 3rd 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 acquiring an additional 635,705 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in COPT Defense Properties by 443.1% during the 2nd 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 grew its stake in shares of COPT Defense Properties by 315.1% in the 2nd 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 in the last quarter.

About COPT Defense Properties

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.