Wedbush Increases COPT Defense Properties (NYSE:CDP) Price Target to $33.00

COPT Defense Properties (NYSE:CDP) had its price target lifted by equities researchers at Wedbush from $28.00 to $33.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 15.99% from the stock’s current price.

Separately, Evercore ISI upped their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. 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 stock has an average rating of “Moderate Buy” and a consensus target price of $28.43.

COPT Defense Properties Stock Performance

Shares of CDP traded down $0.45 during trading hours on Monday, hitting $28.45. The stock had a trading volume of 541,655 shares, compared to its average volume of 852,346. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -26.31, a PEG ratio of 2.77 and a beta of 0.98. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.66 and a current ratio of 3.17. The firm has a 50-day moving average price of $25.63 and a 200 day moving average price of $24.56. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $29.41.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33). The business had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. COPT Defense Properties’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, research analysts anticipate that COPT Defense Properties will post 2.55 EPS for the current year.

Institutional Trading of COPT Defense Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in CDP. State of Michigan Retirement System acquired a new stake in COPT Defense Properties during the first quarter worth $665,000. Handelsinvest Investeringsforvaltning acquired a new position in COPT Defense Properties in the first quarter valued at about $455,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in COPT Defense Properties during the first quarter worth about $3,081,000. State of Alaska Department of Revenue acquired a new stake in shares of COPT Defense Properties during the first quarter valued at about $1,581,000. Finally, Leeward Investments LLC MA purchased a new stake in shares of COPT Defense Properties in the 1st quarter valued at approximately $13,350,000.

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.