COPT Defense Properties (NYSE:CDP) Releases FY 2024 Earnings Guidance

COPT Defense Properties (NYSE:CDP) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.510-2.570 for the period, compared to the consensus estimate of 2.510. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Evercore ISI upgraded shares of COPT Defense Properties from an in-line rating to an outperform rating and upped their price target for the company from $27.00 to $28.00 in a research report on Monday, February 12th. Citigroup restated a neutral rating and issued a $25.00 price target (down previously from $29.00) on shares of COPT Defense Properties in a research report on Friday, March 22nd. Finally, Jefferies Financial Group upgraded shares of COPT Defense Properties from a hold rating to a buy rating and upped their price target for the company from $26.00 to $28.00 in a research report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $26.86.

COPT Defense Properties Stock Performance

Shares of CDP traded down $0.10 during midday trading on Thursday, reaching $22.85. 1,030,902 shares of the stock were exchanged, compared to its average volume of 937,171. COPT Defense Properties has a 12-month low of $21.73 and a 12-month high of $26.80. The firm has a 50 day simple moving average of $23.81 and a 200-day simple moving average of $24.20. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 1.59.

COPT Defense Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 29th were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from COPT Defense Properties’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.16%. COPT Defense Properties’s dividend payout ratio (DPR) is -176.12%.

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.