COPT Defense Properties (NYSE:CDP) Issues Earnings Results, Misses Expectations By $0.33 EPS

COPT Defense Properties (NYSE:CDP) released its quarterly earnings results on Monday. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.33), Zacks reports. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.53%. The company had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue was up 10.7% on a year-over-year basis.

COPT Defense Properties Price Performance

NYSE:CDP traded down $0.04 during mid-day trading on Wednesday, hitting $29.04. 118,751 shares of the company’s stock were exchanged, compared to its average volume of 842,141. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.58. COPT Defense Properties has a one year low of $22.20 and a one year high of $29.27. The business has a fifty day moving average price of $25.35 and a 200 day moving average price of $24.48.

COPT Defense Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a yield of 4.06%. COPT Defense Properties’s dividend payout ratio (DPR) is currently -109.26%.

Analyst Ratings Changes

Separately, Wedbush reiterated an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, COPT Defense Properties has an average rating of “Moderate Buy” and a consensus target price of $27.00.

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.