Brokerages Set COPT Defense Properties (NYSE:CDP) Price Target at $33.43

COPT Defense Properties (NYSE:CDP) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.43.

A number of analysts recently weighed in on CDP shares. Truist Financial upped their target price on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Jefferies Financial Group assumed coverage on COPT Defense Properties in a report on Monday, March 17th. They issued a “buy” rating and a $31.00 target price on the stock.

Institutional Trading of COPT Defense Properties

Several institutional investors and hedge funds have recently made changes to their positions in CDP. Alliancebernstein L.P. increased its position in COPT Defense Properties by 813.0% during the fourth quarter. Alliancebernstein L.P. now owns 6,247,854 shares of the company’s stock worth $193,371,000 after buying an additional 5,563,548 shares during the period. Norges Bank purchased a new stake in COPT Defense Properties in the 4th quarter valued at $45,718,000. Cbre Investment Management Listed Real Assets LLC raised its position in COPT Defense Properties by 192.9% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,158,207 shares of the company’s stock valued at $35,847,000 after purchasing an additional 762,840 shares during the last quarter. Principal Financial Group Inc. grew its position in COPT Defense Properties by 61.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,906,341 shares of the company’s stock worth $59,001,000 after purchasing an additional 723,486 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in COPT Defense Properties by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 2,693,332 shares of the company’s stock valued at $81,689,000 after purchasing an additional 710,491 shares during the period.

COPT Defense Properties Stock Up 0.7 %

COPT Defense Properties stock opened at $27.28 on Thursday. The firm has a market capitalization of $3.07 billion, a P/E ratio of 22.18 and a beta of 0.96. The company has a current ratio of 2.47, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $34.22. The stock’s fifty day simple moving average is $27.84 and its 200-day simple moving average is $30.08.

COPT Defense Properties (NYSE:CDP) last released its earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a return on equity of 9.07% and a net margin of 18.44%. As a group, equities analysts expect that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.305 per share. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, March 31st. This represents a $1.22 annualized dividend and a dividend yield of 4.47%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 99.19%.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.