Analysts Offer Predictions for COPT Defense Properties’ Q2 2024 Earnings (NYSE:CDP)

COPT Defense Properties (NYSE:CDP) – Investment analysts at Wedbush boosted their Q2 2024 earnings per share estimates for shares of COPT Defense Properties in a note issued to investors on Monday, April 29th. Wedbush analyst R. Anderson now forecasts that the company will earn $0.63 per share for the quarter, up from their previous forecast of $0.61. Wedbush has a “Outperform” rating and a $28.00 price objective on the stock. The consensus estimate for COPT Defense Properties’ current full-year earnings is $2.51 per share. Wedbush also issued estimates for COPT Defense Properties’ Q3 2024 earnings at $0.64 EPS, Q4 2024 earnings at $0.65 EPS, FY2024 earnings at $2.56 EPS, Q1 2025 earnings at $0.65 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $2.65 EPS.

Other equities analysts also recently issued research reports about the company. Citigroup reissued a “neutral” rating and set a $25.00 price target (down previously from $29.00) on shares of COPT Defense Properties in a research report on Friday, March 22nd. Evercore ISI upgraded COPT Defense Properties from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $27.00 to $28.00 in a research note on Monday, February 12th. Finally, Jefferies Financial Group upgraded COPT Defense Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $26.00 to $28.00 in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

COPT Defense Properties Price Performance

CDP opened at $23.97 on Wednesday. COPT Defense Properties has a 12-month low of $21.76 and a 12-month high of $26.80. The company has a current ratio of 3.66, a quick ratio of 3.36 and a debt-to-equity ratio of 1.58. The business’s fifty day simple moving average is $23.75 and its 200-day simple moving average is $24.18. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -22.19, a PEG ratio of 2.31 and a beta of 0.93.

COPT Defense Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 4.92%. This is a boost from COPT Defense Properties’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, March 27th. COPT Defense Properties’s dividend payout ratio (DPR) is presently -109.26%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CDP. Global Retirement Partners LLC acquired a new stake in COPT Defense Properties during the first quarter worth about $36,000. Securian Asset Management Inc. acquired a new stake in COPT Defense Properties during the first quarter worth about $223,000. Carmel Capital Partners LLC acquired a new stake in COPT Defense Properties during the first quarter worth about $379,000. Handelsinvest Investeringsforvaltning acquired a new stake in COPT Defense Properties during the first quarter worth about $455,000. Finally, New Mexico Educational Retirement Board acquired a new stake in COPT Defense Properties during the first quarter worth about $556,000.

About COPT Defense Properties

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.