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

COPT Defense Properties (NYSE:CDP) had its price objective trimmed by Jefferies Financial Group from $37.00 to $35.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on CDP. Evercore ISI upped 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 report on Wednesday, October 30th. Truist Financial raised their price objective on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their target price 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. BTIG Research lifted their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. increased their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.88.

COPT Defense Properties Trading Down 0.2 %

Shares of COPT Defense Properties stock opened at $30.88 on Thursday. 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 quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $3.48 billion, a P/E ratio of 25.31 and a beta of 0.98. The company has a fifty day moving average of $31.86 and a 200 day moving average of $29.74.

COPT Defense Properties (NYSE:CDP) last released 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 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 business’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.82%. COPT Defense Properties’s dividend payout ratio is 96.72%.

Hedge Funds Weigh In On COPT Defense Properties

Several hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of COPT Defense Properties in the third quarter worth about $91,000. Quarry LP grew its stake in COPT Defense Properties by 711.4% in the 2nd 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. KBC Group NV increased 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 acquiring an additional 840 shares during the period. Spirit of America Management Corp NY raised its stake in shares of COPT Defense Properties by 100.0% during the third quarter. Spirit of America Management Corp NY now owns 4,000 shares of the company’s stock valued at $121,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of COPT Defense Properties by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock valued at $134,000 after purchasing an additional 1,130 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.