COPT Defense Reports First Quarter 2024 Results
COPT Defense Properties Common Shares of Beneficial Interest (CDP)
Company Research
Source: Business Wire
EPS of $0.29FFO per Share, as Adjusted for Comparability, of $0.62Exceeded High-End of GuidanceIncreased Midpoint of 2024 FFO per Share Guidance by 3-cents to $2.54Implies 5% FFO per Share Growth at the Midpoint for the YearDefense/IT Portfolio 95.6% Occupied and 96.8% LeasedSame Property Cash NOI Increased 6.1%Raised Same Property Cash NOI Guidance for the Year by 50 Basis Points, to 6.0%-7.0%Committed $91 Million of Capital to New InvestmentsPlaced 73,000 SF of Developments into Service that are 100% Leased$381 Million of Active Developments (959,000 SF) are 74% LeasedExcellent Leasing to Start the YearTotal Leasing of 721,000 SF160,000 SF of Vacancy LeasingOn Track to Achieve Annual Target of 400,000 SFTenant Retention of 78%On Track to Achieve Annual Goal of 75%-85% COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (“COPT Defense” or the “Company”) (NYSE: CDP) announced results for the first quarter ended March 31, 2024.Management CommentsStephen E. Budorick, COPT Defense
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News
- COPT Defense Declares Second Quarter 2024 Common DividendBusiness Wire
- COPT Defense Properties (NYSE: CDP) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $28.00 price target on the stock, up previously from $27.00.MarketBeat
- COPT Defense Acquires 202,000 Square Foot Building in Columbia, MDBusiness Wire
- COPT Defense Provides Conference Call Details to Discuss 1Q 2024 ResultsBusiness Wire
- COPT Defense Properties (NYSE: CDP) was downgraded by analysts at Citigroup Inc. from a "buy" rating to a "neutral" rating. They now have a $25.00 price target on the stock, down previously from $29.00.MarketBeat