COPT Defense Properties (NYSE:CDP) Receives Average Recommendation of “Moderate Buy” from Brokerages

COPT Defense Properties (NYSE:CDP) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.00.

CDP has been the subject of a number of recent analyst reports. BTIG Research upped their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of 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 price target 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. 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. Finally, Truist Financial boosted their target price on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On COPT Defense Properties

A number of large investors have recently modified their holdings of the company. Spirit of America Management Corp NY bought a new position in COPT Defense Properties in the 2nd quarter worth about $50,000. Quarry LP lifted 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 valued at $87,000 after purchasing an additional 3,052 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in COPT Defense Properties in the 3rd quarter worth approximately $91,000. KBC Group NV raised its position in shares of COPT Defense Properties by 28.3% during the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after buying an additional 840 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of COPT Defense Properties by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after acquiring an additional 1,130 shares during the last quarter.

COPT Defense Properties Stock Performance

NYSE CDP opened at $32.38 on Tuesday. 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 company has a fifty day moving average price of $31.98 and a 200-day moving average price of $29.20. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $34.22. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 26.54 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The firm had revenue of $189.23 million during the quarter, compared to analysts’ expectations of $167.37 million. During the same quarter last year, the business posted $0.60 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts predict that COPT Defense Properties will post 2.58 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, December 31st. COPT Defense Properties’s payout ratio is presently 96.72%.

COPT Defense Properties Company Profile

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.