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

COPT Defense Properties (NYSE:CDP) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.560-2.580 for the period, compared to the consensus estimate of 2.560. The company issued revenue guidance of -. COPT Defense Properties also updated its FY24 guidance to $2.56-$2.58 EPS.

COPT Defense Properties Stock Up 0.8 %

NYSE:CDP traded up $0.27 during trading hours on Monday, reaching $32.56. The company had a trading volume of 1,499,158 shares, compared to its average volume of 835,718. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $32.80. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -31.31 and a beta of 0.99. The business’s 50-day simple moving average is $30.47 and its two-hundred day simple moving average is $27.19.

COPT Defense Properties (NYSE:CDP) last issued its earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The firm had revenue of $187.34 million during the quarter, compared to the consensus estimate of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts expect that COPT Defense Properties will post 2.57 earnings per share for the current year.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a dividend of $0.295 per share. The ex-dividend date was Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 3.62%. COPT Defense Properties’s payout ratio is -113.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CDP shares. 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. 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. Evercore ISI increased their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price 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. Finally, Wedbush upped their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Insider Activity at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.06% of the stock is currently owned by company insiders.

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.