COPT Defense Properties (CDP) to Issue Quarterly Dividend of $0.30 on January 15th

COPT Defense Properties (NYSE:CDP) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.295 per share on Wednesday, January 15th. This represents a $1.18 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Tuesday, December 31st.

COPT Defense Properties Price Performance

CDP opened at $31.04 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $31.92 and its 200 day moving average price is $29.60. COPT Defense Properties has a fifty-two week low of $22.20 and a fifty-two week high of $34.22. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 25.44 and a beta of 0.98.

COPT Defense Properties (NYSE:CDP) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32). The business had revenue of $189.23 million for the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, sell-side analysts expect that COPT Defense Properties will post 2.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CDP. Evercore ISI lifted their target price on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. BTIG Research increased their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Truist Financial lifted their target price on COPT Defense Properties from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.00.

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.