JPMorgan Chase & Co. Raises COPT Defense Properties (NYSE:CDP) Price Target to $31.00

COPT Defense Properties (NYSE:CDP) had its target price upped by JPMorgan Chase & Co. from $26.00 to $31.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also weighed in on the stock. Wedbush 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 note on Monday, August 5th. Wells Fargo & Company upped their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock an overweight rating in a research note on Friday, August 30th. Truist Financial upped their price target on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a hold rating in a research note on Thursday, August 29th. Finally, 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 note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, COPT Defense Properties currently has a consensus rating of Moderate Buy and an average target price of $30.13.

COPT Defense Properties Trading Down 0.9 %

COPT Defense Properties stock opened at $29.10 on Wednesday. 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 firm has a 50-day moving average price of $27.92 and a two-hundred day moving average price of $25.42. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -26.94, a PEG ratio of 2.83 and a beta of 0.99. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $30.05.

COPT Defense Properties (NYSE:CDP) last posted its earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 15.75% and a negative return on equity of 7.52%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 4.05%. The ex-dividend date is Monday, September 30th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Institutional Trading of COPT Defense Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in COPT Defense Properties by 1.0% during the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after purchasing an additional 574 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of COPT Defense Properties by 1.9% during the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock valued at $789,000 after acquiring an additional 578 shares during the period. Van ECK Associates Corp raised its holdings in shares of COPT Defense Properties by 5.1% during the second quarter. Van ECK Associates Corp now owns 19,981 shares of the company’s stock valued at $500,000 after acquiring an additional 967 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of COPT Defense Properties by 12.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,342 shares of the company’s stock valued at $233,000 after acquiring an additional 1,037 shares during the period. Finally, Bailard Inc. raised its holdings in shares of COPT Defense Properties by 6.7% during the second quarter. Bailard Inc. now owns 17,400 shares of the company’s stock valued at $436,000 after acquiring an additional 1,100 shares during the period.

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.