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

COPT Defense Properties (NYSE:CDP) issued its quarterly earnings results on Monday. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.33), Zacks reports. COPT Defense Properties had a negative return on equity of 7.53% and a negative net margin of 15.75%. The business had revenue of $187.34 million for the quarter, compared to the consensus estimate of $166.11 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year.

COPT Defense Properties Stock Performance

COPT Defense Properties stock traded down $0.11 during trading hours on Wednesday, hitting $28.97. The company had a trading volume of 1,875,480 shares, compared to its average volume of 854,174. The firm has a market cap of $3.26 billion, a PE ratio of -26.81, a PEG ratio of 2.70 and a beta of 0.98. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.66 and a quick ratio of 3.66. COPT Defense Properties has a one year low of $22.20 and a one year high of $29.30. The firm has a 50-day moving average of $25.35 and a 200 day moving average of $24.48.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a $0.295 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.18 annualized dividend and a yield of 4.07%. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Wall Street Analysts Forecast Growth

CDP has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $28.00 target price (up from $27.00) on shares of COPT Defense Properties in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.71.

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.