COPT Defense Properties (NYSE:CDP) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

COPT Defense Properties (NYSE:CDP) posted its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32), Zacks reports. The business had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share.

COPT Defense Properties Price Performance

CDP stock opened at $32.70 on Thursday. The stock has a 50-day moving average price of $30.62 and a two-hundred day moving average price of $27.29. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $33.05. The stock has a market cap of $3.68 billion, a PE ratio of 26.80 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.

COPT Defense Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties’s payout ratio is presently 96.72%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI raised their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company decreased their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Truist Financial increased their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. 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. Finally, Wedbush raised their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.38.

Insider Activity

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

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.