COPT Defense Properties (NYSE:CDP) Posts Earnings Results, Misses Expectations By $0.32 EPS

COPT Defense Properties (NYSE:CDP) posted 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. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The firm had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. During the same period in the previous year, the company posted $0.60 earnings per share. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year.

COPT Defense Properties Stock Performance

Shares of NYSE:CDP traded up $0.33 during midday trading on Wednesday, hitting $32.83. The company’s stock had a trading volume of 77,280 shares, compared to its average volume of 834,008. The stock’s 50 day simple moving average is $30.54 and its 200 day simple moving average is $27.25. The stock has a market capitalization of $3.70 billion, a price-to-earnings 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 has a fifty-two week low of $22.20 and a fifty-two week high of $33.05.

COPT Defense Properties Dividend Announcement

The company 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 currently 96.72%.

Wall Street Analysts Forecast Growth

CDP has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company dropped their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Evercore ISI lifted their target price 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, July 31st. Wedbush increased their target price on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted 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 note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, COPT Defense Properties currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Activity at COPT Defense Properties

In other COPT Defense Properties news, COO Britt A. Snider acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.06% of the stock is owned by corporate 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.