COPT Defense Properties (NYSE:CDP) Issues Quarterly Earnings Results

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

COPT Defense Properties Price Performance

NYSE:CDP traded down $0.11 during trading hours on Wednesday, hitting $28.97. 1,874,569 shares of the stock were exchanged, compared to its average volume of 854,168. The firm’s fifty day moving average price is $25.35 and its 200 day moving average price is $24.48. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $29.30. The company has a market cap of $3.26 billion, a P/E ratio of -26.81, a P/E/G ratio of 2.70 and a beta of 0.98. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were paid a $0.295 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a yield of 4.07%. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CDP. Evercore ISI lifted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $28.00 price objective (up from $27.00) on shares of COPT Defense Properties in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.71.

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.