Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
COPT Defense Properties (CDP)
NYSE:CDP
RESEARCH TOOLSreports
Holding CDP?
Track your performance easily
Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.32Last Year’s EPS
$0.3Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: -4.45%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Positive
The earnings call presented strong financial results with growth in FFO and strategic acquisitions enhancing data center opportunities. High occupancy and retention rates, alongside robust same-property cash NOI growth, indicate positive operational performance. However, short-term occupancy reductions and concerns about future debt refinancing introduce some challenges. Overall, the sentiment is positive, reflecting strong performance and growth potential.Company Guidance
During the COPT Defense Properties Q3 2024 earnings call, several key financial metrics and strategic initiatives were highlighted. The company reported an FFO per share of $0.65, exceeding the midpoint of their guidance by $0.01, and raised the annual FFO per share guidance to $2.57, suggesting over 6% year-over-year growth. They also increased the midpoint guidance for same-property cash NOI growth to 8.5% for the year. COPT achieved strong operational metrics with a total portfolio occupancy of 93.1% and Defense/IT portfolio occupancy at 95%. Additionally, tenant retention for the quarter was at 88%, pushing the annual guidance midpoint up by 250 basis points to 85%. Strategic acquisitions included a 365-acre parcel in Des Moines for $32 million, expected to support significant data center development, and the 3900 Rogers Road property in San Antonio for $17 million, enhancing their portfolio and tenant relationships. The company aims to self-fund capital investments through retained cash flows and anticipates a compound annual FFO per share growth of at least 4% between 2023 and 2026.Exceeding Guidance and Strong Growth
FFO per share as adjusted for comparability was $0.65, $0.01 above the midpoint of our quarterly guidance. We increased the midpoint of 2024 FFO per share annual guidance again by $0.01 to $2.57, which implies over 6% year-over-year growth.
Strategic Acquisitions
Acquired a 365-acre parcel near Des Moines, Iowa for $32 million and a Class A office building in San Antonio for $17 million, significantly expanding data center shell opportunities and strengthening the Defense segment.
High Occupancy and Retention Rates
Finished the quarter with strong occupancy levels at 93.1% overall and 95% in the Defense/IT portfolio. Tenant retention at 88% for the quarter and 84% for the year.
Strong Same-Property Cash NOI Growth
Same-property cash NOI increased 9.4% for the quarter and 8.8% year-to-date. Guidance for same-property cash NOI growth midpoint increased to 8.5%.
Solid Financial Position
100% of debt at fixed rates with the next significant debt maturity in 2026. Strong balance sheet allows for self-funding of equity components for new investments.
---
CDP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CDP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $32.56 | $32.50 | -0.18% |
| Jul 29, 2024 | $28.00 | $28.80 | +2.86% |
| Apr 25, 2024 | $22.36 | $23.12 | +3.40% |
| Feb 08, 2024 | $22.56 | $23.07 | +2.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does COPT Defense Properties (CDP) report earnings?
COPT Defense Properties (CDP) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is COPT Defense Properties (CDP) earnings time?
COPT Defense Properties (CDP) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CDP EPS forecast?
CDP EPS forecast for the fiscal quarter 2024 (Q4) is $0.32.
---