COPT Defense Properties (NYSE:CDP) Releases Earnings Results, Beats Estimates By $0.36 EPS

Key Points

• COPT Defense Properties beat earnings expectations, reporting quarterly EPS of $0.71 versus the consensus estimate of $0.35, a $0.36 upside surprise.
• Shares rose 2.1% to $34.17, while the company maintained a quarterly dividend of $0.32 per share, equivalent to a 3.7% yield.
• Analysts hold a consensus “Moderate Buy” rating, with five Buy and three Hold ratings and an average price target of $38.00.

COPT Defense Properties (NYSE:CDP - Get Free Report) released its earnings results on Thursday. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.36, Zacks reports. COPT Defense Properties had a return on equity of 10.48% and a net margin of 20.94%.

COPT Defense Properties Trading Up 2.1%

NYSE CDP traded up $0.70 during trading hours on Thursday, hitting $34.17. The company's stock had a trading volume of 734,996 shares, compared to its average volume of 1,021,821. The stock has a fifty day moving average of $34.61 and a 200 day moving average of $33.54. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $3.88 billion, a P/E ratio of 23.73 and a beta of 0.77. COPT Defense Properties has a twelve month low of $27.06 and a twelve month high of $38.90.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, September 30th. COPT Defense Properties's payout ratio is currently 88.89%.

Analyst Ratings Changes

A number of brokerages have issued reports on CDP. Truist Financial increased their price objective on shares of COPT Defense Properties from $34.00 to $38.00 and gave the company a "hold" rating in a report on Monday, August 24th. Citigroup lifted their price objective on shares of COPT Defense Properties from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Evercore reiterated an "outperform" rating and set a $42.00 target price on shares of COPT Defense Properties in a research report on Monday, July 27th. Wells Fargo & Company raised their price target on shares of COPT Defense Properties from $36.00 to $41.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of COPT Defense Properties in a report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, COPT Defense Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

About COPT Defense Properties

COPT Defense Properties is a real estate investment trust that owns, develops, manages and leases properties designed to support the U.S. government, defense and information technology sectors. Its portfolio includes office buildings, data centers, specialized facilities and other mission-critical properties leased primarily to government agencies, defense contractors and technology companies.

The company's properties are concentrated in key defense and national security markets, including Northern Virginia, suburban Maryland and the broader Washington, DC, region.

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