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

COPT Defense Properties (NYSE:CDP) had its price objective raised by JPMorgan Chase & Co. from $26.00 to $31.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

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

COPT Defense Properties Stock Performance

Shares of NYSE CDP opened at $29.10 on Wednesday. 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 has a one year low of $22.20 and a one year high of $30.05. The business’s 50-day moving average price is $27.92 and its two-hundred day moving average price is $25.42. The company has a market capitalization of $3.28 billion, a P/E ratio of -26.94, a price-to-earnings-growth ratio of 2.83 and a beta of 0.99.

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

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.295 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.18 annualized dividend and a dividend yield of 4.05%. COPT Defense Properties’s dividend payout ratio is -109.26%.

Institutional Investors Weigh In On COPT Defense Properties

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $407,496,000. Earnest Partners LLC bought a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $129,344,000. Westwood Holdings Group Inc. bought a new stake in shares of COPT Defense Properties in the first quarter valued at approximately $90,045,000. Millennium Management LLC boosted its position in shares of COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after acquiring an additional 1,293,761 shares during the period. Finally, Sei Investments Co. boosted its position in shares of COPT Defense Properties by 9.6% in the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock valued at $49,648,000 after acquiring an additional 174,206 shares during the period.

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.