COPT Defense Properties (NYSE:CDP) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

COPT Defense Properties (NYSE:CDP) released its quarterly earnings data on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32), Zacks reports. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis.

COPT Defense Properties Price Performance

NYSE CDP traded up $0.20 on Wednesday, reaching $32.70. The company’s stock had a trading volume of 641,207 shares, compared to its average volume of 836,693. The firm has a market cap of $3.68 billion, a PE ratio of 26.80 and a beta of 0.99. The business has a 50-day moving average price of $30.62 and a 200 day moving average price of $27.29. COPT Defense Properties has a 52 week low of $22.20 and a 52 week high of $33.05. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56.

COPT Defense Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were paid a $0.295 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a yield of 3.61%. COPT Defense Properties’s payout ratio is currently 96.72%.

Analysts Set New Price Targets

A number of research firms have weighed in on CDP. JPMorgan Chase & Co. boosted their target price on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Truist Financial boosted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Evercore ISI boosted their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Wedbush boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.38.

Insiders Place Their Bets

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, with a total value of $29,410.00. Following the completion of the purchase, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.