COPT Defense Properties (CDP) to Issue Quarterly Dividend of $0.30 on July 17th

COPT Defense Properties (NYSE:CDP) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.295 per share on Wednesday, July 17th. This represents a $1.18 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, June 28th.

COPT Defense Properties has a dividend payout ratio of 92.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect COPT Defense Properties to earn $2.64 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 43.2%.

COPT Defense Properties Price Performance

CDP stock opened at $24.76 on Wednesday. The business has a 50 day moving average price of $24.17 and a 200 day moving average price of $24.31. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 1.58. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -22.93, a PEG ratio of 2.38 and a beta of 0.95. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $26.80.

Analysts Set New Price Targets

A number of research firms recently commented on CDP. Citigroup reaffirmed a “neutral” rating and issued a $25.00 target price (down from $29.00) on shares of COPT Defense Properties in a research report on Friday, March 22nd. Wedbush restated an “outperform” rating and set a $28.00 price target (up previously from $27.00) on shares of COPT Defense Properties in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, COPT Defense Properties presently has a consensus rating of “Moderate Buy” and a consensus price target 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.