COPT Defense Properties (NYSE:CDP) Declares $0.30 Quarterly Dividend

COPT Defense Properties (NYSE:CDP) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.295 per share on Wednesday, January 15th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Tuesday, December 31st.

COPT Defense Properties has a dividend payout ratio of 92.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect COPT Defense Properties to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 42.5%.

COPT Defense Properties Stock Down 0.5 %

Shares of NYSE:CDP opened at $29.91 on Friday. The firm has a fifty day moving average price of $31.20 and a two-hundred day moving average price of $28.00. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 24.52 and a beta of 0.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.38 and a quick ratio of 2.38. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The business had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDP has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of 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 increased their price objective 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 boosted their target price 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. Evercore ISI increased their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and an average target price of $30.86.

Insider Buying and Selling

In other news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.06% of the stock is owned by corporate insiders.

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.