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

COPT Defense Properties (NYSE:CDP) had its target price increased by Wedbush from $28.00 to $33.00 in a report published 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 boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $28.43.

COPT Defense Properties Trading Up 0.7 %

CDP stock traded up $0.19 during midday trading on Monday, hitting $28.41. The company’s stock had a trading volume of 1,128,026 shares, compared to its average volume of 856,546. The company’s fifty 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. The company has a quick ratio of 3.66, a current ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). The firm 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 firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, sell-side analysts anticipate that COPT Defense Properties will post 2.55 EPS for the current year.

COPT Defense Properties Dividend Announcement

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

Institutional Trading of COPT Defense Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in shares of COPT Defense Properties during the 1st quarter worth about $36,000. Heritage Wealth Advisors bought a new stake in COPT Defense Properties in the 1st quarter valued at about $39,000. Spirit of America Management Corp NY bought a new stake in COPT Defense Properties in the 2nd quarter valued at about $50,000. Bessemer Group Inc. bought a new stake in COPT Defense Properties in the 1st quarter valued at about $100,000. Finally, Lazard Asset Management LLC bought a new stake in COPT Defense Properties in the 1st quarter valued at about $102,000.

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.