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

COPT Defense Properties (NYSE:CDP - Get 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. The firm had revenue of $189.23 million during the quarter, compared to analysts' expectations of $167.37 million. COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business's quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS.

COPT Defense Properties Stock Up 0.6 %

NYSE:CDP traded up $0.20 during mid-day trading on Wednesday, hitting $32.70. The stock had a trading volume of 641,257 shares, compared to its average volume of 836,693. The company has a current ratio of 3.17, a quick 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 $33.05. The company has a market capitalization of $3.68 billion, a PE ratio of 26.86 and a beta of 0.99. The stock has a 50-day simple moving average of $30.54 and a two-hundred day simple moving average of $27.25.

COPT Defense Properties Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial increased their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Thursday, August 29th. Wedbush boosted their price target on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Wells Fargo & Company lowered their price objective on shares of COPT Defense Properties from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Wednesday, September 11th. JPMorgan Chase & Co. boosted their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Finally, Evercore ISI raised 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. Three 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.com, COPT Defense Properties presently has an average rating of "Moderate Buy" and an average target price of $30.38.

Insider Buying and Selling at COPT Defense Properties

In related news, COO Britt A. Snider purchased 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the purchase, the chief operating officer now directly owns 2,000 shares of the company's stock, valued at $58,820. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.06% of the company's stock.

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.