COPT Defense Properties (NYSE:CDP) Updates Q3 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.630-0.650 for the period, compared to the consensus earnings per share 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.

COPT Defense Properties Stock Performance

Shares of NYSE CDP traded down $0.01 during midday trading on Monday, hitting $28.26. 1,000,528 shares of the company’s stock were exchanged, compared to its average volume of 846,321. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $3.18 billion, a PE ratio of -26.17, a price-to-earnings-growth ratio of 2.70 and a beta of 0.98. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $28.42. The company’s 50 day moving average price is $25.20 and its 200 day moving average price is $24.44.

COPT Defense Properties Dividend Announcement

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 dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a yield of 4.18%. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an outperform rating and issued a $28.00 price objective (up from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, COPT Defense Properties presently has an average rating of Moderate Buy and a consensus target price of $27.00.

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.