COPT Defense Properties (NYSE:CDP) Price Target Raised to $34.00

COPT Defense Properties (NYSE:CDP) had its price objective boosted by Jefferies Financial Group from $33.00 to $34.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the company. New Street Research set a $33.00 price objective on COPT Defense Properties in a report on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of COPT Defense Properties in a research note on Wednesday, January 21st. Wells Fargo & Company raised their price objective on shares of COPT Defense Properties from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Truist Financial upped their target price on shares of COPT Defense Properties from $30.00 to $31.00 and gave the stock a “hold” rating in a research report on Monday, December 15th. Finally, Cantor Fitzgerald set a $33.00 price target on shares of COPT Defense Properties in a research report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

COPT Defense Properties Price Performance

Shares of NYSE:CDP opened at $30.19 on Tuesday. COPT Defense Properties has a 12 month low of $23.92 and a 12 month high of $31.24. The firm has a market capitalization of $3.42 billion, a P/E ratio of 22.70 and a beta of 0.86. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.34 and a quick ratio of 2.34. The company’s fifty day moving average price is $29.44 and its 200 day moving average price is $28.94.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Thursday, October 30th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. COPT Defense Properties had a net margin of 19.99% and a return on equity of 9.71%. The business had revenue of $188.80 million for the quarter, compared to analysts’ expectations of $187.63 million. During the same period in the previous year, the company posted $0.65 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, sell-side analysts predict that COPT Defense Properties will post 2.67 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, December 31st. COPT Defense Properties’s payout ratio is currently 91.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of COPT Defense Properties by 0.4% during the second quarter. California State Teachers Retirement System now owns 104,190 shares of the company’s stock worth $2,874,000 after purchasing an additional 457 shares during the last quarter. Arizona State Retirement System lifted its holdings in COPT Defense Properties by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 33,402 shares of the company’s stock worth $971,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC grew its position in shares of COPT Defense Properties by 31.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,973 shares of the company’s stock worth $57,000 after acquiring an additional 469 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of COPT Defense Properties by 2.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,780 shares of the company’s stock valued at $588,000 after acquiring an additional 513 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of COPT Defense Properties by 4.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 12,672 shares of the company’s stock valued at $368,000 after acquiring an additional 540 shares during the last quarter.

COPT Defense Properties Company Profile

COPT Defense Properties (NYSE: CDP) is a real estate investment trust organized to own, lease and manage healthcare and life science facilities serving the United States federal government, with a particular focus on Department of Defense and Veterans Affairs tenants. The company was formed in 2016 through a spin-off from Corporate Office Properties Trust, enabling it to concentrate exclusively on medical office buildings and specialized research facilities situated on or near military and federal research campuses.

The company’s portfolio comprises purpose-built, Class A medical office and outpatient specialty clinics, as well as life science laboratories.