COPT Defense Properties (NYSE:CDP) Posts Quarterly Earnings Results

COPT Defense Properties (NYSE:CDP) issued its earnings results on Monday. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32), Zacks reports. The firm had revenue of $189.23 million for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.60 earnings per share.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP traded up $0.21 on Wednesday, reaching $32.71. 228,810 shares of the company’s stock were exchanged, compared to its average volume of 834,729. The company has a fifty day moving average of $30.54 and a 200-day moving average of $27.25. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $33.05. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 26.86 and a beta of 0.99. 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 Dividend Announcement

The firm also recently announced 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 was Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.61%. COPT Defense Properties’s payout ratio is presently 96.72%.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price 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 in the company, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

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

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.