COPT Defense Properties (NYSE:CDP) Price Target Increased to $33.00 by Analysts at Wedbush

COPT Defense Properties (NYSE:CDP) had its price objective lifted by Wedbush from $28.00 to $33.00 in a report released on Monday morning, Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for COPT Defense Properties’ Q3 2024 earnings at $0.65 EPS, FY2024 earnings at $2.58 EPS and FY2025 earnings at $2.66 EPS.

Separately, Evercore ISI upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, COPT Defense Properties has a consensus rating of Moderate Buy and a consensus price target of $28.43.

COPT Defense Properties Stock Performance

Shares of NYSE CDP traded up $0.19 during midday trading on Monday, hitting $28.41. 1,128,026 shares of the company’s stock were exchanged, compared to its average volume of 856,546. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.66 and a current ratio of 3.17. The stock’s 50 day moving average price is $25.71 and its 200-day moving average price is $24.58. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $29.41.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). The business had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts anticipate that COPT Defense Properties will post 2.55 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 4.15%. The ex-dividend date was Friday, June 28th. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

Institutional Trading of COPT Defense Properties

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in COPT Defense Properties by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after purchasing an additional 574 shares during the period. Arizona State Retirement System raised its stake in COPT Defense Properties by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock valued at $789,000 after purchasing an additional 578 shares during the period. Van ECK Associates Corp raised its stake in COPT Defense Properties by 5.1% during the 2nd quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock valued at $500,000 after purchasing an additional 967 shares during the period. Bailard Inc. raised its stake in COPT Defense Properties by 6.7% during the 2nd quarter. Bailard Inc. now owns 17,400 shares of the company’s stock valued at $436,000 after purchasing an additional 1,100 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of COPT Defense Properties in the first quarter worth $36,000.

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.