COPT Defense Properties (NYSE:CDP) Announces Quarterly Earnings Results

COPT Defense Properties (NYSE:CDP) released 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. COPT Defense Properties had a negative return on equity of 7.53% and a negative net margin of 16.83%. The firm had revenue of $187.34 million during the quarter, compared to analysts’ expectations of $166.11 million. During the same period in the prior year, the firm posted $0.60 earnings per share. COPT Defense Properties’s revenue for the quarter was up 10.7% compared to the same quarter last year.

COPT Defense Properties Price Performance

NYSE CDP traded up $0.30 during trading hours on Tuesday, hitting $28.57. 72,625 shares of the company’s stock traded hands, compared to its average volume of 840,803. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $29.12. The company has a market capitalization of $3.22 billion, a PE ratio of -26.17, a PEG ratio of 2.70 and a beta of 0.98. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.66 and a quick ratio of 3.66. The firm’s 50-day moving average is $25.26 and its 200-day moving average is $24.46.

COPT Defense Properties Dividend Announcement

The firm also recently disclosed 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 was Friday, June 28th. This represents a $1.18 annualized dividend and a yield of 4.13%. COPT Defense Properties’s dividend payout ratio is presently -109.26%.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an “outperform” rating and set a $28.00 price objective (up from $27.00) on shares of COPT Defense Properties in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

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.