Citigroup Issues Pessimistic Forecast for COPT Defense Properties (NYSE:CDP) Stock Price

COPT Defense Properties (NYSE:CDP) had its target price dropped by research analysts at Citigroup from $40.00 to $36.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s target price would indicate a potential upside of 8.59% from the company’s current price.

Several other analysts have also commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of COPT Defense Properties in a research note on Thursday, October 15th. Wells Fargo & Company raised their target price on shares of COPT Defense Properties from $36.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. BTIG Research restated a “buy” rating and issued a $38.00 price target on shares of COPT Defense Properties in a research report on Friday, October 30th. Evercore reaffirmed an “outperform” rating and issued a $42.00 price target on shares of COPT Defense Properties in a report on Monday, July 27th. Finally, Truist Financial increased their price objective on COPT Defense Properties from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, August 24th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.50.

COPT Defense Properties Price Performance

COPT Defense Properties stock traded up $0.12 during midday trading on Wednesday, hitting $33.15. The company’s stock had a trading volume of 1,567,984 shares, compared to its average volume of 1,028,732. COPT Defense Properties has a 12 month low of $27.06 and a 12 month high of $38.90. The company has a quick ratio of 2.89, a current ratio of 1.58 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $3.76 billion, a PE ratio of 22.40 and a beta of 0.79. The stock’s 50-day moving average price is $34.31 and its 200-day moving average price is $33.61.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The company had revenue of $208.76 million during the quarter, compared to analyst estimates of $190.43 million. COPT Defense Properties had a net margin of 21.17% and a return on equity of 10.80%. Analysts anticipate that COPT Defense Properties will post 2.79 earnings per share for the current fiscal year.

Institutional Trading of COPT Defense Properties

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its stake in COPT Defense Properties by 0.5% during the second quarter. State Street Corp now owns 6,871,138 shares of the company’s stock valued at $252,139,000 after buying an additional 34,561 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of COPT Defense Properties by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,682,296 shares of the company’s stock worth $51,480,000 after buying an additional 25,026 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of COPT Defense Properties by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 1,317,391 shares of the company’s stock worth $40,312,000 after buying an additional 18,758 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of COPT Defense Properties in the third quarter worth about $28,030,000. Finally, Leeward Investments LLC MA purchased a new position in shares of COPT Defense Properties in the third quarter worth approximately $17,840,000.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust that owns, develops, manages and leases properties designed to support the U.S. government, defense and information technology sectors. Its portfolio includes office buildings, data centers, specialized facilities and other mission-critical properties leased primarily to government agencies, defense contractors and technology companies.

The company’s properties are concentrated in key defense and national security markets, including Northern Virginia, suburban Maryland and the broader Washington, DC, region.