COPT Defense Properties (NYSE:CDP) Updates 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.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price 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. Wells Fargo & Company reduced their target price 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. Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial lifted their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Evercore ISI lifted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.00.

COPT Defense Properties Stock Performance

NYSE:CDP traded up $0.27 during midday trading on Monday, reaching $32.56. The stock had a trading volume of 1,499,158 shares, compared to its average volume of 835,718. The stock has a market cap of $3.67 billion, a P/E ratio of -31.31 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $32.80. The firm has a fifty day simple moving average of $30.47 and a two-hundred day simple moving average of $27.19.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33). The business had revenue of $187.34 million during the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities analysts expect that COPT Defense Properties will post 2.57 EPS for the current year.

COPT Defense Properties Announces Dividend

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

Insiders Place Their Bets

In related news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the purchase, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by 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.