COPT Defense Properties (NYSE:CDP) Issues Q3 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.630-0.650 for the period, compared to the consensus EPS estimate of 0.640. The company issued revenue guidance of -. COPT Defense Properties also updated its FY 2024 guidance to 2.540-2.580 EPS.

COPT Defense Properties Stock Up 2.1 %

Shares of COPT Defense Properties stock traded up $0.59 on Tuesday, hitting $28.86. 196,030 shares of the company traded hands, compared to its average volume of 841,839. The company has a 50-day moving average price of $25.26 and a 200 day moving average price of $24.46. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.58. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $29.10. The company has a market cap of $3.25 billion, a PE ratio of -26.17, a PEG ratio of 2.70 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The business 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 16.83%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. Sell-side analysts predict that COPT Defense Properties will post 2.55 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Friday, June 28th. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Wall Street Analyst Weigh In

Separately, 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, COPT Defense Properties has an average rating of Moderate Buy and a consensus price target of $27.00.

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.