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

COPT Defense Properties (NYSE:CDP) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.640-0.660 for the period, compared to the consensus EPS 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 Price Performance

Shares of NYSE:CDP traded up $0.24 during mid-day trading on Wednesday, reaching $32.74. The stock had a trading volume of 136,491 shares, compared to its average volume of 834,289. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 1.56. The company has a market cap of $3.69 billion, a P/E ratio of 26.86 and a beta of 0.99. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $33.05. The business’s 50 day moving average price is $30.54 and its 200 day moving average price is $27.25.

COPT Defense Properties (NYSE:CDP) last posted its 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 firm 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%. COPT Defense Properties’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Research analysts expect that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were given a dividend of $0.295 per share. 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 3.60%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI upped their target price on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial upped their target price on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Finally, Wedbush raised their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and an average price target of $30.38.

Insider Activity

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the transaction, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.06% of the company’s stock.

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.