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 guidance of 2.540-2.580 for the period, compared to the consensus earnings per share estimate of 2.540. The company issued revenue guidance of -. COPT Defense Properties also updated its FY24 guidance to $2.54-2.58 EPS.

Analyst Upgrades and Downgrades

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

COPT Defense Properties Price Performance

Shares of CDP stock traded down $0.15 on Wednesday, hitting $28.93. The company’s stock had a trading volume of 215,255 shares, compared to its average volume of 842,802. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $29.27. The firm’s fifty day moving average price is $25.35 and its 200-day moving average price is $24.48. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.58.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). The company had revenue of $187.34 million during the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative return on equity of 7.53% and a negative net margin of 15.75%. COPT Defense Properties’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. On average, analysts anticipate that COPT Defense Properties will post 2.55 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently announced 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 was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a yield of 4.08%. COPT Defense Properties’s payout ratio is currently -109.26%.

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.