COPT Defense Properties (NYSE:CDP) Stock Price Expected to Rise, BTIG Research Analyst Says

COPT Defense Properties (NYSE:CDP) had its price objective raised by BTIG Research from $33.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 14.25% from the stock’s previous close.

A number of other research firms have also recently commented on CDP. Wells Fargo & Company decreased their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Truist Financial lifted their target price 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. Evercore ISI upped their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wedbush increased their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.75.

COPT Defense Properties Trading Up 1.7 %

Shares of CDP stock traded up $0.56 on Wednesday, reaching $33.26. 392,878 shares of the company’s stock were exchanged, compared to its average volume of 873,103. The company’s fifty day simple moving average is $31.43 and its 200 day simple moving average is $28.39. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $34.22. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $3.75 billion, a PE ratio of 27.26 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). The firm had revenue of $189.23 million for the quarter, compared to analysts’ expectations of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, analysts forecast that COPT Defense Properties will post 2.57 EPS for the current year.

Insider Transactions at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, with a total value of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in COPT Defense Properties during the third quarter worth about $91,000. Sanctuary Advisors LLC boosted its position in shares of COPT Defense Properties by 13.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 42,381 shares of the company’s stock worth $1,349,000 after acquiring an additional 4,885 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of COPT Defense Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,927,208 shares of the company’s stock valued at $88,797,000 after acquiring an additional 21,388 shares during the last quarter. Vestcor Inc raised its position in shares of COPT Defense Properties by 1.8% during the 3rd quarter. Vestcor Inc now owns 101,165 shares of the company’s stock worth $3,068,000 after acquiring an additional 1,760 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in COPT Defense Properties by 3.4% in the third quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after purchasing an additional 701 shares in 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.