BTIG Research Forecasts Strong Price Appreciation for COPT Defense Properties (NYSE:CDP) Stock

COPT Defense Properties (NYSE:CDP) had its target price upped by stock analysts at BTIG Research from $33.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 15.75% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Evercore ISI increased their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company decreased their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Wedbush raised their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Truist Financial boosted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, COPT Defense Properties currently has an average rating of “Moderate Buy” and an average price target of $31.75.

COPT Defense Properties Price Performance

Shares of CDP stock opened at $32.83 on Wednesday. The firm’s 50 day moving average price is $31.52 and its two-hundred day moving average price is $28.45. The stock has a market cap of $3.70 billion, a PE ratio of 26.91 and a beta of 0.98. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The company 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider acquired 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On COPT Defense Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDP. Spirit of America Management Corp NY bought a new stake in shares of COPT Defense Properties during the 2nd quarter worth approximately $50,000. Quarry LP raised its position in COPT Defense Properties by 711.4% during the second quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after acquiring an additional 3,052 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in COPT Defense Properties during the third quarter worth $91,000. Lazard Asset Management LLC acquired a new stake in COPT Defense Properties in the first quarter valued at $102,000. Finally, KBC Group NV grew its position in shares of COPT Defense Properties by 28.3% in the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after acquiring 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.