COPT Defense Properties (NYSE:CDP) Issues Q3 Earnings Guidance

COPT Defense Properties (NYSE:CDP) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $0.63-0.65 for the period, compared to the consensus EPS estimate of $0.64. COPT Defense Properties also updated its FY24 guidance to $2.54-2.58 EPS.

COPT Defense Properties Price Performance

Shares of NYSE CDP remained flat at $28.27 during trading on Monday. 844,467 shares of the stock were exchanged, compared to its average volume of 845,237. The stock has a market capitalization of $3.18 billion, a PE ratio of -26.21, a PEG ratio of 2.70 and a beta of 0.98. The firm’s 50-day moving average price is $25.20 and its 200 day moving average price is $24.44. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $28.42. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors 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 annualized dividend and a yield of 4.17%. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an outperform rating and set a $28.00 price objective (up from $27.00) on shares of COPT Defense Properties in a research note on Monday, April 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $27.00.

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.