Mutual of America Capital Management LLC Trims Stock Position in COPT Defense Properties (NYSE:CDP)

Mutual of America Capital Management LLC decreased its holdings in COPT Defense Properties (NYSE:CDP) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,760 shares of the company’s stock after selling 3,599 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of COPT Defense Properties worth $1,843,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new position in COPT Defense Properties during the first quarter valued at $1,702,000. California State Teachers Retirement System bought a new position in shares of COPT Defense Properties during the 1st quarter valued at approximately $2,721,000. Public Employees Retirement System of Ohio purchased a new stake in COPT Defense Properties in the 1st quarter worth approximately $7,571,000. Vanguard Group Inc. bought a new stake in COPT Defense Properties during the 1st quarter worth approximately $407,496,000. Finally, Millennium Management LLC lifted its holdings in COPT Defense Properties by 65.3% during the second quarter. Millennium Management LLC now owns 3,274,008 shares of the company’s stock valued at $81,948,000 after purchasing an additional 1,293,761 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CDP shares. JPMorgan Chase & Co. raised their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Wedbush boosted 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 boosted their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Evercore ISI lifted their price objective on shares of COPT Defense Properties from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.86.

Insider Activity at COPT Defense Properties

In related news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $29.41 per share, with a total value of $29,410.00. Following the acquisition, the chief operating officer now directly owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

COPT Defense Properties Stock Up 2.2 %

Shares of NYSE CDP opened at $31.84 on Monday. The stock has a market capitalization of $3.59 billion, a PE ratio of 26.10 and a beta of 0.98. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 12-month low of $22.20 and a 12-month high of $34.22. The stock’s fifty day simple moving average is $31.33 and its two-hundred day simple moving average is $28.27.

COPT Defense Properties (NYSE:CDP) last announced its earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm had revenue of $189.23 million during the quarter, compared to the consensus estimate of $167.37 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts expect that COPT Defense Properties will post 2.57 EPS for the current fiscal year.

COPT Defense Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.71%. COPT Defense Properties’s payout ratio is 96.72%.

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.