COPT Defense Properties (NYSE:CDP) Releases Q3 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.630-0.650 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 2.540-2.580 EPS.

COPT Defense Properties Stock Performance

CDP traded down $0.15 during trading on Wednesday, reaching $28.93. 215,255 shares of the stock traded hands, compared to its average volume of 842,802. 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 has a fifty-two week low of $22.20 and a fifty-two week high of $29.27. The stock’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). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.53%. The firm had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that COPT Defense Properties will post 2.55 EPS for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Stockholders of record on Friday, June 28th were paid a dividend of $0.295 per share. The ex-dividend date was Friday, June 28th. This represents a $1.18 annualized dividend and a dividend yield of 4.08%. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Analysts Set New Price Targets

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