JPMorgan Chase & Co. Boosts COPT Defense Properties (NYSE:CDP) Price Target to $31.00

COPT Defense Properties (NYSE:CDP - Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from $26.00 to $31.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 4.84% from the company's current price.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company upped their target price on COPT Defense Properties from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, August 30th. Evercore ISI boosted their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Truist Financial increased their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, August 29th. Finally, Wedbush boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.13.

COPT Defense Properties Stock Performance

NYSE:CDP traded up $0.30 during mid-day trading on Wednesday, hitting $29.57. The company's stock had a trading volume of 702,277 shares, compared to its average volume of 833,272. The business's fifty day moving average is $27.65 and its two-hundred day moving average is $25.32. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -27.38, a PEG ratio of 2.83 and a beta of 0.99. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17.

COPT Defense Properties (NYSE:CDP - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.33). The company had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company's revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its holdings in COPT Defense Properties by 18.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 24,922 shares of the company's stock valued at $624,000 after buying an additional 3,922 shares during the period. Quarry LP raised its stake in shares of 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. Algert Global LLC lifted its holdings in shares of COPT Defense Properties by 20.4% in the 2nd quarter. Algert Global LLC now owns 372,170 shares of the company's stock worth $9,315,000 after acquiring an additional 62,998 shares during the last quarter. Lighthouse Investment Partners LLC boosted its position in shares of COPT Defense Properties by 140.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 300,000 shares of the company's stock worth $7,509,000 after purchasing an additional 175,000 shares during the period. Finally, Millennium Management LLC increased its holdings in COPT Defense Properties by 65.3% in 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.

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.

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