Evercore ISI Raises COPT Defense Properties (NYSE:CDP) Price Target to $36.00

COPT Defense Properties (NYSE:CDP) had its price target upped by analysts at Evercore ISI from $33.00 to $36.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 11.80% from the company’s previous close.

Several other equities analysts have also weighed in on CDP. Truist Financial increased their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wedbush raised 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 note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, COPT Defense Properties has a consensus rating of “Moderate Buy” and an average price target of $30.38.

COPT Defense Properties Trading Down 1.5 %

NYSE:CDP opened at $32.20 on Wednesday. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $33.05. The firm has a 50-day moving average price of $30.69 and a two-hundred day moving average price of $27.33. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 2.38. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 26.39 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The business had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. On average, equities analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CWM LLC grew its holdings in shares of COPT Defense Properties by 1.4% during the third quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares in the last quarter. Fifth Third Bancorp grew its stake in COPT Defense Properties by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock worth $1,462,000 after buying an additional 574 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of COPT Defense Properties by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after buying an additional 578 shares during the last quarter. Presima Securities ULC raised its position in shares of COPT Defense Properties by 1.3% during the 3rd quarter. Presima Securities ULC now owns 60,410 shares of the company’s stock valued at $1,832,000 after buying an additional 800 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of COPT Defense Properties by 5.1% during the 2nd quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock worth $500,000 after acquiring an additional 967 shares during the last quarter.

COPT Defense Properties Company Profile

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.