COPT Defense Properties (NYSE:CDP) Updates FY 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.540-2.580 for the period, compared to the consensus estimate of 2.540. The company issued revenue guidance of -. COPT Defense Properties also updated its FY24 guidance to $2.54-2.58 EPS.

COPT Defense Properties Stock Performance

CDP stock traded down $0.01 during midday trading on Monday, hitting $28.26. 1,000,528 shares of the company traded hands, compared to its average volume of 846,321. The business has a 50 day simple moving average of $25.20 and a 200-day simple moving average of $24.44. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.58. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $28.42. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -26.18, a price-to-earnings-growth ratio of 2.70 and a beta of 0.98.

COPT Defense Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were paid a $0.295 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a yield of 4.18%. COPT Defense Properties’s payout ratio is presently -109.26%.

Analyst Upgrades and Downgrades

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