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

COPT Defense Properties (NYSE:CDP) had its price target increased by Wedbush from $28.00 to $33.00 in a report released on Monday, 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, Q4 2024 earnings at $0.67 EPS, FY2024 earnings at $2.58 EPS and FY2025 earnings at $2.66 EPS.

Separately, Evercore ISI boosted their price target on 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, COPT Defense Properties presently has a consensus rating of Moderate Buy and a consensus price target of $28.43.

COPT Defense Properties Trading Up 1.2 %

NYSE:CDP opened at $28.72 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.66 and a current ratio of 3.17. COPT Defense Properties has a one year low of $22.20 and a one year high of $29.41. The business’s 50-day simple moving average is $25.99 and its 200 day simple moving average is $24.66. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -26.59, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98.

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 business had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that COPT Defense Properties will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of COPT Defense Properties

Several institutional investors and hedge funds have recently bought and sold shares of CDP. Vanguard Group Inc. bought a new position in shares of COPT Defense Properties during the first quarter valued at approximately $407,496,000. Earnest Partners LLC bought a new position in shares of COPT Defense Properties during the first quarter valued at approximately $129,344,000. Westwood Holdings Group Inc. bought a new position in shares of COPT Defense Properties during the first quarter valued at approximately $90,045,000. Sei Investments Co. bought a new position in shares of COPT Defense Properties during the first quarter valued at approximately $43,731,000. Finally, Principal Financial Group Inc. grew its holdings in shares of COPT Defense Properties by 179.5% during the second quarter. Principal Financial Group Inc. now owns 1,190,853 shares of the company’s stock valued at $29,807,000 after purchasing an additional 764,859 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.