COPT Defense Properties (NYSE:CDP) Releases Q3 Earnings Guidance

COPT Defense Properties (NYSE:CDP) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.63-0.65 for the period, compared to the consensus estimate of $0.64. COPT Defense Properties also updated its FY 2024 guidance to 2.540-2.580 EPS.

COPT Defense Properties Price Performance

Shares of CDP stock traded down $0.23 during mid-day trading on Thursday, hitting $28.74. The company had a trading volume of 379,116 shares, compared to its average volume of 850,991. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $29.41. The stock’s 50 day moving average price is $25.43 and its 200-day moving average price is $24.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.66. The company has a market capitalization of $3.24 billion, a P/E ratio of -26.82, a P/E/G ratio of 2.78 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The company had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. During the same period last year, the firm posted $0.60 EPS. COPT Defense Properties’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts forecast that COPT Defense Properties will post 2.55 earnings per share for the current year.

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 $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, June 28th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wedbush restated an outperform rating and issued a $28.00 price target (up previously from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Evercore ISI boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $27.71.

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.