COPT Defense Properties (NYSE:CDP) Plans Quarterly Dividend of $0.30

COPT Defense Properties (NYSE:CDP - Get Free Report) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.295 per share on Wednesday, July 17th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Friday, June 28th.

COPT Defense Properties has a dividend payout ratio of 92.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect COPT Defense Properties to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 43.5%.

COPT Defense Properties Price Performance

Shares of CDP traded down $0.21 on Friday, reaching $24.45. 400,056 shares of the stock traded hands, compared to its average volume of 995,503. COPT Defense Properties has a 12 month low of $21.76 and a 12 month high of $26.80. The stock's 50-day moving average price is $23.83 and its 200-day moving average price is $24.20. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.66 and a current ratio of 3.66.

Wall Street Analysts Forecast Growth

CDP has been the subject of a number of recent research reports. Evercore ISI upgraded shares of COPT Defense Properties from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $27.00 to $28.00 in a research note on Monday, February 12th. Citigroup reaffirmed a "neutral" rating and set a $25.00 price objective (down from $29.00) on shares of COPT Defense Properties in a report on Friday, March 22nd. Jefferies Financial Group upgraded COPT Defense Properties from a "hold" rating to a "buy" rating and upped their price objective for the company from $26.00 to $28.00 in a research note on Wednesday, February 21st. Finally, Wedbush restated an "outperform" rating and set a $28.00 target price (up previously from $27.00) on shares of COPT Defense Properties in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.00.

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.