COPT Defense Properties (NYSE:CDP) Price Target Lowered to $35.00 at Jefferies Financial Group

COPT Defense Properties (NYSE:CDP) had its price target cut by Jefferies Financial Group from $37.00 to $35.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Truist Financial upped their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, December 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 note on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI raised their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BTIG Research boosted their price target on COPT Defense Properties from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.88.

COPT Defense Properties Trading Up 0.3 %

NYSE:CDP opened at $30.98 on Thursday. The business’s 50-day simple moving average is $31.81 and its 200-day simple moving average is $29.79. 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 debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market capitalization of $3.49 billion, a PE ratio of 25.39 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data 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 company had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. Sell-side analysts expect that COPT Defense Properties will post 2.58 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 Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s dividend payout ratio (DPR) is 96.72%.

Hedge Funds Weigh In On COPT Defense Properties

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in COPT Defense Properties by 77.8% during the fourth quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after purchasing an additional 614 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of COPT Defense Properties by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock worth $81,689,000 after purchasing an additional 710,491 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of COPT Defense Properties in the third quarter worth $91,000. Sanctuary Advisors LLC boosted its stake in COPT Defense Properties by 13.0% during the third quarter. Sanctuary Advisors LLC now owns 42,381 shares of the company’s stock valued at $1,349,000 after buying an additional 4,885 shares during the period. Finally, Geode Capital Management LLC increased its stake in COPT Defense Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock worth $88,797,000 after acquiring an additional 21,388 shares during 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.