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.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an outperform rating and issued a $28.00 target price (up previously from $27.00) on shares of COPT Defense Properties in a 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. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $27.00.

COPT Defense Properties Stock Up 2.1 %

NYSE:CDP traded up $0.59 during mid-day trading on Tuesday, hitting $28.86. The company had a trading volume of 196,030 shares, compared to its average volume of 841,839. The business has a fifty day simple moving average of $25.26 and a 200-day simple moving average of $24.46. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.58. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $29.10. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -26.17, a PEG ratio of 2.70 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings data on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 16.83% and a negative return on equity of 7.53%. The company had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. During the same period last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that COPT Defense Properties will post 2.55 earnings per share for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Friday, June 28th. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

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.