COPT Defense Properties (NYSE:CDP) Posts Quarterly Earnings Results, Misses Expectations By $0.33 EPS

COPT Defense Properties (NYSE:CDP) posted its quarterly earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.33), Zacks reports. The firm had revenue of $187.34 million for the quarter, compared to analyst estimates of $166.11 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.53%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share.

COPT Defense Properties Price Performance

CDP stock traded down $0.11 during trading hours on Wednesday, hitting $28.97. 1,875,480 shares of the stock traded hands, compared to its average volume of 854,174. The stock has a 50-day simple moving average of $25.35 and a 200 day simple moving average of $24.48. COPT Defense Properties has a one year low of $22.20 and a one year high of $29.30. The company has a market cap of $3.26 billion, a P/E ratio of -26.81, a P/E/G ratio of 2.70 and a beta of 0.98. The company has a current ratio of 3.66, a quick ratio of 3.66 and a debt-to-equity ratio of 1.58.

COPT Defense Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, June 28th were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.18 annualized dividend and a yield of 4.07%. COPT Defense Properties’s dividend payout ratio is currently -109.26%.

Wall Street Analysts Forecast Growth

CDP has been the subject of a number of recent research reports. Evercore ISI upped their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $28.00 price target (up previously 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.71.

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.