COPT Defense Properties (NYSE:CDP) Updates Q4 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.640-0.660 for the period, compared to the consensus earnings per share estimate of 0.640. The company issued revenue guidance of -. COPT Defense Properties also updated its FY 2024 guidance to 2.560-2.580 EPS.

COPT Defense Properties Price Performance

Shares of COPT Defense Properties stock traded down $0.32 during mid-day trading on Thursday, reaching $32.38. 330,279 shares of the stock were exchanged, compared to its average volume of 834,293. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 26.79 and a beta of 0.99. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. The firm has a 50-day simple moving average of $30.62 and a 200 day simple moving average of $27.29. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $33.05.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32). The company had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, sell-side analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, September 30th. COPT Defense Properties’s dividend payout ratio is 96.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CDP shares. JPMorgan Chase & Co. lifted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI lifted their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Truist Financial lifted their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Wedbush lifted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.38.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $29.41 per share, with a total value of $29,410.00. Following the transaction, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.06% of the company’s stock.

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.