BofA lowered the firm’s price target on COPT Defense Properties to $30 from $35 and keeps a Buy rating on the shares. Challenging fundamentals are “the new norm” for office REITS, says the firm, which cites a lack of visibility on when operations will stabilize in its downgrade of three other office REITS.
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Read More on CDP:
- COPT Defense Properties sees 2023 adjusted FFO $2.39-$2.41, consensus $2.40
- COPT Defense Properties sees Q4 FFO 60c-62c, consensus 61c
- COPT Defense Properties reports Q3 adjusted FFO 60c, consensus 60c
- COPT Defense Properties price target lowered to $26 from $28 at Evercore ISI
- COPT Defense Properties initiated with an Outperform at Wedbush
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