Truist Financial Raises COPT Defense Properties (NYSE:CDP) Price Target to $31.00

COPT Defense Properties (NYSE:CDP) had its price target boosted by Truist Financial from $27.00 to $31.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 4.06% from the company’s current price.

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

COPT Defense Properties Trading Down 0.1 %

CDP opened at $29.79 on Thursday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -27.58, a PEG ratio of 2.72 and a beta of 0.98. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $30.05. The stock has a fifty day moving average price of $27.36 and a 200-day moving average price of $25.20.

COPT Defense Properties (NYSE:CDP) last released its quarterly 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 return on equity of 7.52% and a negative net margin of 15.75%. The company had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that COPT Defense Properties will post 2.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in shares of COPT Defense Properties in the first quarter valued at about $407,496,000. Earnest Partners LLC acquired a new position in shares of COPT Defense Properties in the first quarter valued at about $129,344,000. Westwood Holdings Group Inc. purchased a new stake in shares of COPT Defense Properties in the first quarter worth about $90,045,000. Millennium Management LLC boosted its stake in shares of COPT Defense Properties by 65.3% in the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock worth $81,948,000 after buying an additional 1,293,761 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of COPT Defense Properties by 9.6% in the second quarter. Sei Investments Co. now owns 1,983,526 shares of the company’s stock worth $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.