COPT Defense Properties (NYSE:CDP) Issues Quarterly Earnings Results, Misses Estimates By $0.32 EPS

COPT Defense Properties (NYSE:CDP) issued its quarterly earnings data on Monday. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.32), Zacks reports. The company had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share.

COPT Defense Properties Trading Up 1.0 %

Shares of NYSE CDP traded up $0.33 during trading on Wednesday, reaching $32.83. The stock had a trading volume of 77,280 shares, compared to its average volume of 834,008. The business’s 50-day moving average price is $30.54 and its 200-day moving average price is $27.25. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $33.05. The company has a market cap of $3.70 billion, a P/E ratio of 26.64 and a beta of 0.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17.

COPT Defense Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Monday, September 30th. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Insiders Place Their Bets

In related news, COO Britt A. Snider acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the transaction, the chief operating officer now owns 2,000 shares of the company’s stock, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDP. Wedbush raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company cut their price target on shares of COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Truist Financial upped their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Evercore ISI raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.00.

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.