Jefferies Financial Group Cuts COPT Defense Properties (NYSE:CDP) Price Target to $35.00

COPT Defense Properties (NYSE:CDP) had its price objective reduced by Jefferies Financial Group from $37.00 to $35.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on CDP. BTIG Research lifted their target price on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. boosted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI raised their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial increased their price target on shares of COPT Defense Properties from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, COPT Defense Properties currently has an average rating of “Moderate Buy” and an average target price of $32.88.

COPT Defense Properties Stock Up 0.3 %

Shares of CDP stock opened at $30.98 on Thursday. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The firm has a market cap of $3.49 billion, a PE ratio of 25.39 and a beta of 0.98. The stock has a 50 day moving average of $31.81 and a 200-day moving average of $29.79.

COPT Defense Properties (NYSE:CDP) last released its earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32). The company had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’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 company earned $0.60 earnings per share. On average, equities analysts predict that COPT Defense Properties will post 2.58 EPS for the current year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 3.81%. The ex-dividend date is Tuesday, December 31st. COPT Defense Properties’s payout ratio is presently 96.72%.

Institutional Investors Weigh In On COPT Defense Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its holdings in COPT Defense Properties by 1.4% during the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock worth $1,065,000 after purchasing an additional 475 shares during the last quarter. Arizona State Retirement System grew its holdings in COPT Defense Properties by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after acquiring an additional 578 shares during the period. Carmel Capital Partners LLC raised its position in shares of COPT Defense Properties by 3.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock valued at $525,000 after acquiring an additional 584 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of COPT Defense Properties by 77.8% in the 4th quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $43,000 after purchasing an additional 614 shares during the period. Finally, M&T Bank Corp boosted its position in shares of COPT Defense Properties by 3.4% in the 3rd quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock worth $644,000 after purchasing an additional 701 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.