COPT Defense Properties (NYSE:CDP) Price Target Raised to $33.00

COPT Defense Properties (NYSE:CDP) had its price target upped by Wells Fargo & Company from $31.00 to $33.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 10.55% from the stock’s current price.

Several other brokerages also recently issued reports on CDP. Evercore ISI upped their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial boosted their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Wedbush boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

COPT Defense Properties Stock Performance

CDP traded up $0.02 during trading on Friday, reaching $29.85. 38,024 shares of the company’s stock were exchanged, compared to its average volume of 829,480. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $30.05. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average price of $27.36 and a 200 day moving average price of $25.20. The company has a market capitalization of $3.36 billion, a P/E ratio of -27.74, a PEG ratio of 2.72 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The firm had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. During the same quarter in the prior year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts predict that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On COPT Defense Properties

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in COPT Defense Properties during the 1st quarter worth approximately $407,496,000. Earnest Partners LLC acquired a new stake in shares of COPT Defense Properties in the 1st quarter valued at approximately $129,344,000. Westwood Holdings Group Inc. acquired a new stake in shares of COPT Defense Properties in the 1st quarter valued at approximately $90,045,000. Millennium Management LLC boosted its holdings in shares of COPT Defense Properties by 65.3% in the 2nd quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after buying an additional 1,293,761 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of COPT Defense Properties by 9.6% in the 2nd quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock valued at $49,648,000 after buying an additional 174,206 shares during the last quarter.

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.