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

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

COPT Defense Properties Stock Performance

Shares of NYSE CDP traded up $0.05 during mid-day trading on Wednesday, hitting $29.13. The company had a trading volume of 67,886 shares, compared to its average volume of 841,793. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $29.22. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.58. The firm’s 50 day simple moving average is $25.35 and its two-hundred day simple moving average is $24.48.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). 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 company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. As a group, research analysts anticipate that COPT Defense Properties will post 2.55 earnings per share for the current fiscal year.

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 issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Friday, June 28th. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Analysts Set New Price Targets

Separately, Wedbush reissued an outperform rating and issued a $28.00 price target (up previously from $27.00) on shares of COPT Defense Properties in a report on Monday, April 29th. Three 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.