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

COPT Defense Properties (NYSE:CDP) announced a quarterly dividend on Thursday, August 8th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.295 per share on Thursday, October 17th. This represents a $1.18 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, September 30th.

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 decline. Equities analysts expect COPT Defense Properties to earn $2.65 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 43.0%.

COPT Defense Properties Trading Up 0.2 %

CDP opened at $30.58 on Friday. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -28.31, a P/E/G ratio of 2.64 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a twelve month low of $22.20 and a twelve month high of $30.99. The company has a 50-day simple moving average of $29.16 and a 200 day simple moving average of $26.04.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33). COPT Defense Properties had a negative return on equity of 7.52% and a negative net margin of 15.75%. The firm had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Analysts predict that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider bought 1,000 shares of COPT Defense Properties stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial lifted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Evercore ISI raised their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target 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. Wells Fargo & Company cut their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, September 11th. Finally, Wedbush upped their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, COPT Defense Properties presently 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.