Thrivent Financial for Lutherans Has $1.05 Million Stock Position in COPT Defense Properties (NYSE:CDP)

Thrivent Financial for Lutherans increased its position in shares of COPT Defense Properties (NYSE:CDP) by 48.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,910 shares of the company’s stock after acquiring an additional 13,586 shares during the period. Thrivent Financial for Lutherans’ holdings in COPT Defense Properties were worth $1,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in shares of COPT Defense Properties during the 1st quarter valued at about $2,498,000. Swiss National Bank bought a new position in COPT Defense Properties during the first quarter valued at $5,361,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of COPT Defense Properties in the first quarter worth $3,081,000. Leeward Investments LLC MA bought a new position in shares of COPT Defense Properties in the first quarter worth $13,350,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of COPT Defense Properties in the first quarter worth $13,958,000.

Insider Buying and Selling at COPT Defense Properties

In other news, COO Britt A. Snider purchased 1,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the completion of the transaction, the chief operating officer now directly owns 2,000 shares of the company’s stock, valued at approximately $58,820. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.06% of the company’s stock.

COPT Defense Properties Trading Down 0.4 %

Shares of CDP stock opened at $31.05 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 3.17 and a current ratio of 3.17. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $31.50. The company has a market capitalization of $3.50 billion, a PE ratio of -28.75, a price-to-earnings-growth ratio of 2.69 and a beta of 0.99. The business’s fifty day moving average is $29.49 and its 200 day moving average is $26.27.

COPT Defense Properties (NYSE:CDP) last released its quarterly earnings results on Monday, July 29th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.33). COPT Defense Properties had a negative net margin of 15.75% and a negative return on equity of 7.52%. The firm had revenue of $187.34 million for the quarter, compared to analysts’ expectations of $166.11 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts anticipate that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, September 30th. This represents a $1.18 dividend on an annualized basis and a yield of 3.80%. COPT Defense Properties’s payout ratio is -109.26%.

Analysts Set New Price Targets

A number of research firms have recently commented on CDP. JPMorgan Chase & Co. raised their price target on COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wedbush raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Truist Financial raised their price target on COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Evercore ISI raised their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

COPT Defense Properties 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.