COPT Defense Properties (NYSE:CDP) Releases FY 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.510-2.570 for the period, compared to the consensus estimate of 2.510. The company issued revenue guidance of -.

COPT Defense Properties Price Performance

Shares of CDP traded up $0.78 during mid-day trading on Friday, hitting $23.63. 1,991,147 shares of the stock were exchanged, compared to its average volume of 828,245. The company has a debt-to-equity ratio of 1.59, a quick ratio of 3.36 and a current ratio of 3.36. The company has a market cap of $2.66 billion, a PE ratio of -21.88, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. COPT Defense Properties has a 52-week low of $21.76 and a 52-week high of $26.80. The firm has a 50-day moving average of $23.77 and a two-hundred day moving average of $24.19.

COPT Defense Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 29th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.18 annualized dividend and a yield of 4.99%. This is a positive change from COPT Defense Properties’s previous quarterly dividend of $0.29. COPT Defense Properties’s dividend payout ratio (DPR) is -109.26%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup reaffirmed a neutral rating and issued a $25.00 price target (down previously from $29.00) on shares of COPT Defense Properties in a report on Friday, March 22nd. Evercore ISI upgraded COPT Defense Properties from an in-line rating to an outperform rating and increased their price objective for the company from $27.00 to $28.00 in a research note on Monday, February 12th. Finally, Jefferies Financial Group raised COPT Defense Properties from a hold rating to a buy rating and boosted their price objective for the stock from $26.00 to $28.00 in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $26.86.

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.