COPT Defense Properties (NYSE:CDP) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of COPT Defense Properties (NYSE:CDP - Free Report) in a research note released on Monday morning, MarketBeat reports. Wedbush currently has a $28.00 price objective on the stock, up from their prior price objective of $27.00.

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

COPT Defense Properties Price Performance

Shares of CDP traded up $0.28 during mid-day trading on Monday, hitting $23.91. The company's stock had a trading volume of 936,715 shares, compared to its average volume of 950,848. The company has a current ratio of 3.66, a quick ratio of 3.36 and a debt-to-equity ratio of 1.58. The firm has a 50-day simple moving average of $23.76 and a 200 day simple moving average of $24.18. The firm has a market capitalization of $2.69 billion, a P/E ratio of -22.14, a P/E/G ratio of 2.29 and a beta of 0.93. COPT Defense Properties has a 1-year low of $21.76 and a 1-year high of $26.80.

COPT Defense Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th were given a dividend of $0.295 per share. This is an increase 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 (DPR) is presently -109.26%.

Institutional Investors Weigh In On COPT Defense Properties

Several hedge funds have recently made changes to their positions in CDP. State of Michigan Retirement System acquired a new stake in shares of 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 $455,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in COPT Defense Properties in the first quarter valued at $3,081,000. State of Alaska Department of Revenue acquired a new position in COPT Defense Properties in the first quarter valued at $1,581,000. Finally, Leeward Investments LLC MA acquired a new position in COPT Defense Properties in the first quarter valued at $13,350,000.

COPT Defense Properties Company Profile

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.