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

COPT Defense Properties (NYSE:CDP) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.640-0.660 for the period, compared to the consensus 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 Stock Performance

Shares of NYSE:CDP traded down $0.32 during midday trading on Thursday, reaching $32.38. 330,279 shares of the company’s stock traded hands, compared to its average volume of 834,293. COPT Defense Properties has a one year low of $22.20 and a one year high of $33.05. The stock has a 50 day moving average of $30.62 and a 200 day moving average of $27.29. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 26.79 and a beta of 0.99.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The company had revenue of $189.23 million during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, equities research analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

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

Wall Street Analyst Weigh In

CDP has been the subject of several research analyst reports. Evercore ISI increased their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wedbush increased their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial increased their target price on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.38.

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.