COPT Defense Properties (NYSE:CDP) Price Target Raised to $33.00 at Evercore ISI

COPT Defense Properties (NYSE:CDP) had its target price lifted by Evercore ISI from $28.00 to $33.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, Wedbush reissued an outperform rating and issued a $28.00 target price (up from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $27.71.

COPT Defense Properties Stock Down 0.1 %

Shares of NYSE CDP opened at $28.90 on Wednesday. The stock has a market cap of $3.26 billion, a PE ratio of -26.76, a price-to-earnings-growth ratio of 2.77 and a beta of 0.98. 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 has a 52-week low of $22.20 and a 52-week high of $29.41. The business has a 50-day moving average price of $25.63 and a 200 day moving average price of $24.56.

COPT Defense Properties (NYSE:CDP) last announced 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 during 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts forecast that COPT Defense Properties will post 2.55 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, June 28th. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Hedge Funds Weigh In On COPT Defense Properties

A number of large investors have recently modified their holdings of CDP. Global Retirement Partners LLC purchased a new position in COPT Defense Properties in the 1st quarter valued at approximately $36,000. Heritage Wealth Advisors purchased a new position in COPT Defense Properties in the 1st quarter valued at approximately $39,000. Spirit of America Management Corp NY purchased a new position in COPT Defense Properties in the 2nd quarter valued at approximately $50,000. Bessemer Group Inc. purchased a new position in COPT Defense Properties in the 1st quarter valued at approximately $100,000. Finally, Lazard Asset Management LLC purchased a new position in COPT Defense Properties in the 1st quarter valued at approximately $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.