COPT Defense Properties (NYSE:CDP) Issues FY24 Earnings Guidance

COPT Defense Properties (NYSE:CDP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.54-2.58 for the period, compared to the consensus estimate of $2.54. COPT Defense Properties also updated its Q3 guidance to $0.63-0.65 EPS.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated an outperform rating and set a $28.00 target price (up from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, COPT Defense Properties presently has an average rating of Moderate Buy and a consensus price target of $27.00.

COPT Defense Properties Stock Performance

CDP stock remained flat at $28.27 on Monday. The company had a trading volume of 1,000,528 shares, compared to its average volume of 846,321. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.58. The firm’s 50-day moving average price is $25.20 and its two-hundred day moving average price is $24.44. The company has a market capitalization of $3.18 billion, a P/E ratio of -26.18, a P/E/G ratio of 2.70 and a beta of 0.98. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $28.42.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th were issued a $0.295 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.17%. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

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.