BTIG Research Issues Positive Forecast for COPT Defense Properties (NYSE:CDP) Stock Price

COPT Defense Properties (NYSE:CDP) had its price objective boosted by BTIG Research from $33.00 to $38.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 14.25% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CDP. Evercore ISI upped their price target on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. increased their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three equities research 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 a consensus rating of “Moderate Buy” and an average target price of $31.75.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP traded up $0.56 during midday trading on Wednesday, hitting $33.26. The stock had a trading volume of 392,878 shares, compared to its average volume of 873,103. COPT Defense Properties has a 1 year low of $22.20 and a 1 year 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 stock has a 50 day moving average price of $31.43 and a two-hundred day moving average price of $28.39. The company has a market capitalization of $3.75 billion, a PE ratio of 27.26 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last announced 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 business had revenue of $189.23 million during 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%. COPT Defense Properties’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider purchased 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the acquisition, the chief operating officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Trading of COPT Defense Properties

Several hedge funds have recently bought and sold shares of the company. Spirit of America Management Corp NY bought a new stake in COPT Defense Properties during the second quarter worth approximately $50,000. Quarry LP grew its position in COPT Defense Properties by 711.4% in the second quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after buying an additional 3,052 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of COPT Defense Properties in the third quarter valued at $91,000. Lazard Asset Management LLC acquired a new stake in shares of COPT Defense Properties during the 1st quarter valued at $102,000. Finally, KBC Group NV raised its position in shares of COPT Defense Properties by 28.3% during the third quarter. KBC Group NV now owns 3,810 shares of the company’s stock worth $116,000 after purchasing an additional 840 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.