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

COPT Defense Properties (NYSE:CDP) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.63-0.65 for the period, compared to the consensus EPS 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 trading on Wednesday, hitting $29.13. 67,886 shares of the company traded hands, compared to its average volume of 841,793. The business’s fifty day moving average is $25.35 and its 200 day moving average is $24.48. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $29.22. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.66 and a quick ratio of 3.66.

COPT Defense Properties (NYSE:CDP) last posted its earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.53% and a negative net margin of 15.75%. The business had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. During the same quarter in the prior year, the company earned $0.60 EPS. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that COPT Defense Properties will post 2.55 EPS for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were issued a $0.295 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.05%. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Wall Street Analysts Forecast Growth

Separately, Wedbush reaffirmed an outperform rating and issued a $28.00 price objective (up from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average 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.