COPT Defense Properties (NYSE:CDP) Stock Price Target Cut by Citigroup

Key Points

• Citigroup cut its price target on COPT Defense Properties from $40 to $36 and maintained a neutral rating; the new target implies 8.59% upside from the prior close.
• Analyst sentiment remains moderately positive: six analysts rate the stock a Buy and three a Hold, with a consensus target of $37.50.
• COPT reported quarterly EPS of $0.41, above the $0.35 estimate, and revenue of $208.76 million, exceeding forecasts of $190.43 million.

COPT Defense Properties (NYSE:CDP - Get Free Report) had its price objective dropped by equities researchers at Citigroup from $40.00 to $36.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective would suggest a potential upside of 8.59% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. BTIG Research restated a "buy" rating and issued a $38.00 price target on shares of COPT Defense Properties in a research note on Friday, October 30th. Wells Fargo & Company boosted their price objective on COPT Defense Properties from $36.00 to $41.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 1st. Truist Financial boosted their price objective on COPT Defense Properties from $34.00 to $38.00 and gave the stock a "hold" rating in a research report on Monday, August 24th. Evercore reissued an "outperform" rating and issued a $42.00 price objective on shares of COPT Defense Properties in a report on Monday, July 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of COPT Defense Properties in a research report on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.50.

COPT Defense Properties Stock Performance

Shares of CDP traded up $0.12 during midday trading on Wednesday, hitting $33.15. 1,567,984 shares of the stock traded hands, compared to its average volume of 1,028,732. The business's 50 day moving average price is $34.31 and its two-hundred day moving average price is $33.61. The firm has a market capitalization of $3.76 billion, a PE ratio of 22.40 and a beta of 0.79. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.89 and a current ratio of 1.58. COPT Defense Properties has a 1-year low of $27.06 and a 1-year high of $38.90.

COPT Defense Properties (NYSE:CDP - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. The business had revenue of $208.76 million for the quarter, compared to analysts' expectations of $190.43 million. COPT Defense Properties had a net margin of 21.17% and a return on equity of 10.80%. Equities research analysts predict that COPT Defense Properties will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On COPT Defense Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in COPT Defense Properties by 0.5% in the second quarter. State Street Corp now owns 6,871,138 shares of the company's stock worth $252,139,000 after purchasing an additional 34,561 shares during the period. Dimensional Fund Advisors LP boosted its stake in COPT Defense Properties by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,682,296 shares of the company's stock valued at $51,480,000 after purchasing an additional 25,026 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in COPT Defense Properties by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,317,391 shares of the company's stock valued at $40,312,000 after purchasing an additional 18,758 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in COPT Defense Properties during the 3rd quarter valued at $28,030,000. Finally, Leeward Investments LLC MA acquired a new position in shares of COPT Defense Properties during the 3rd quarter valued at $17,840,000.

COPT Defense Properties Company Profile

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.

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