COPT Defense Properties (NYSE:CDP) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of COPT Defense Properties (NYSE:CDP) in a report published on Monday morning, MarketBeat reports. Wedbush currently has a $28.00 price objective on the stock, up from their previous price objective of $27.00.

Several other brokerages have also commented on CDP. Citigroup reaffirmed a neutral rating and issued a $25.00 price target (down previously from $29.00) on shares of COPT Defense Properties in a research note on Friday, March 22nd. Jefferies Financial Group raised shares of COPT Defense Properties from a hold rating to a buy rating and upped their target price for the company from $26.00 to $28.00 in a research report on Wednesday, February 21st. Finally, Evercore ISI upgraded shares of COPT Defense Properties from an in-line rating to an outperform rating and lifted their price target for the company from $27.00 to $28.00 in a research report on Monday, February 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $27.00.

COPT Defense Properties Trading Up 1.2 %

CDP opened at $23.91 on Monday. The stock has a market capitalization of $2.69 billion, a PE ratio of -22.14, a P/E/G ratio of 2.29 and a beta of 0.93. COPT Defense Properties has a one year low of $21.76 and a one year high of $26.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.36 and a current ratio of 3.66. The business’s 50 day moving average price is $23.76 and its 200 day moving average price is $24.18.

COPT Defense Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 29th were paid a dividend of $0.295 per share. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.18 annualized dividend and a yield of 4.94%. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Hedge Funds Weigh In On COPT Defense Properties

Several institutional investors have recently bought and sold shares of the company. Leeward Investments LLC MA acquired a new stake in shares of COPT Defense Properties during the first quarter worth about $13,350,000. Handelsinvest Investeringsforvaltning purchased a new stake in COPT Defense Properties during the 1st quarter worth approximately $455,000. Principal Financial Group Inc. acquired a new stake in COPT Defense Properties during the 1st quarter worth approximately $10,296,000. Yousif Capital Management LLC acquired a new stake in COPT Defense Properties during the 1st quarter worth approximately $1,236,000. Finally, Securian Asset Management Inc. purchased a new position in COPT Defense Properties in the 1st quarter valued at approximately $223,000.

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.