COPT Defense Properties (NYSE:CDP - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.560-2.580 for the period, compared to the consensus earnings per share estimate of 2.560. The company issued revenue guidance of -. COPT Defense Properties also updated its FY24 guidance to $2.56-$2.58 EPS.
COPT Defense Properties Stock Performance
Shares of NYSE:CDP traded up $0.27 during trading on Monday, hitting $32.56. 1,499,158 shares of the company were exchanged, compared to its average volume of 835,718. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $32.80. The stock has a 50 day moving average of $30.47 and a 200 day moving average of $27.19. 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 cap of $3.67 billion, a PE ratio of -31.31 and a beta of 0.99.
COPT Defense Properties (NYSE:CDP - Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The business had revenue of $187.34 million for the quarter, compared to the consensus estimate of $166.11 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that COPT Defense Properties will post 2.57 EPS for the current year.
COPT Defense Properties Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were given a $0.295 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.62%. COPT Defense Properties's dividend payout ratio is currently -113.46%.
Analyst Ratings Changes
CDP has been the topic of a number of research reports. Wedbush boosted their target price on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Evercore ISI boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on shares of 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. JPMorgan Chase & Co. increased their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. Finally, Truist Financial boosted their price objective on COPT Defense Properties from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, COPT Defense Properties currently has a consensus rating of "Moderate Buy" and an average price target of $30.00.
Read Our Latest Stock Analysis on COPT Defense Properties
Insider Buying and Selling
In related news, COO Britt A. Snider acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 directly owns 2,000 shares in the company, valued at $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is owned by insiders.
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.
See Also
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