COPT Defense Properties (NYSE:CDP) Stock Gets Price Target Reduction from Citigroup

COPT Defense Properties (NYSE:CDP) had its price target reduced by Citigroup from $40.00 to $36.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

CDP has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on shares of COPT Defense Properties from $36.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. BTIG Research reissued a “buy” rating and set a $38.00 price target on shares of COPT Defense Properties in a report on Friday, October 30th. Truist Financial raised their price target on COPT Defense Properties from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, August 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of COPT Defense Properties in a report on Thursday, October 15th. Finally, Evercore reiterated an “outperform” rating and set a $42.00 price objective on shares of COPT Defense Properties in a research report on Monday, July 27th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.50.

COPT Defense Properties Stock Performance

NYSE:CDP traded up $0.52 during mid-day trading on Wednesday, reaching $32.87. The company’s stock had a trading volume of 1,511,375 shares, compared to its average volume of 827,950. The company has a current ratio of 1.58, a quick ratio of 2.89 and a debt-to-equity ratio of 1.62. The stock has a market cap of $3.73 billion, a P/E ratio of 22.21 and a beta of 0.79. The firm’s fifty day moving average price is $34.04 and its two-hundred day moving average price is $33.64. COPT Defense Properties has a 12-month low of $27.06 and a 12-month high of $38.90.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. COPT Defense Properties had a net margin of 21.17% and a return on equity of 10.80%. The firm had revenue of $208.76 million for the quarter, compared to the consensus estimate of $190.43 million. On average, equities analysts forecast that COPT Defense Properties will post 2.79 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.9%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 86.49%.

Institutional Trading of COPT Defense Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc boosted its stake in shares of COPT Defense Properties by 5.8% during the 3rd quarter. Aberdeen Group plc now owns 53,083 shares of the company’s stock worth $1,773,000 after acquiring an additional 2,933 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of COPT Defense Properties in the 3rd quarter worth $257,000. Russell Investments Group Ltd. increased its stake in shares of COPT Defense Properties by 39.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 227,823 shares of the company’s stock worth $7,609,000 after purchasing an additional 63,912 shares in the last quarter. New Mexico Educational Retirement Board bought a new position in COPT Defense Properties in the 3rd quarter worth $778,000. Finally, New York Life Investment Management LLC bought a new position in COPT Defense Properties in the 3rd quarter worth $566,000.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust that owns, develops, manages and leases properties designed to support the U.S. government, defense and information technology sectors. Its portfolio includes office buildings, data centers, specialized facilities and other mission-critical properties leased primarily to government agencies, defense contractors and technology companies.

The company’s properties are concentrated in key defense and national security markets, including Northern Virginia, suburban Maryland and the broader Washington, DC, region.