COPT Defense Properties (NYSE:CDP) Announces Quarterly Earnings Results, Misses Estimates By $0.32 EPS

COPT Defense Properties (NYSE:CDPGet Free Report) posted its quarterly earnings results 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 return on equity of 7.52% and a negative net margin of 15.75%. The company had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year.

COPT Defense Properties Stock Performance

CDP opened at $32.70 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.17 and a quick ratio of 3.17. The company has a market capitalization of $3.68 billion, a PE ratio of 26.80 and a beta of 0.99. The business has a fifty day simple moving average of $30.62 and a 200 day simple moving average of $27.29. COPT Defense Properties has a 1 year low of $22.20 and a 1 year high of $33.05.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Monday, September 30th were issued a dividend of $0.295 per share. The ex-dividend date was Monday, September 30th. This represents a $1.18 annualized dividend and a yield of 3.61%. COPT Defense Properties’s payout ratio is currently 96.72%.

Insiders Place Their Bets

In other COPT Defense Properties news, COO Britt A. Snider bought 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $29.41 per share, with a total value of $29,410.00. Following the completion of the transaction, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CDP shares. JPMorgan Chase & Co. boosted their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial raised their price objective 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. Wedbush lifted their target price on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company dropped their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.38.

Check Out Our Latest Report on CDP

COPT Defense Properties Company Profile

(Get Free Report)

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.

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