Thrivent Financial for Lutherans Increases Stock Holdings in COPT Defense Properties (NYSE:CDP)

Thrivent Financial for Lutherans boosted its holdings in shares of COPT Defense Properties (NYSE:CDP) by 32.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,516 shares of the company’s stock after buying an additional 13,606 shares during the period. Thrivent Financial for Lutherans’ holdings in COPT Defense Properties were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CDP. Spirit of America Management Corp NY acquired a new stake in shares of COPT Defense Properties during the second quarter worth $50,000. Quarry LP raised its stake in COPT Defense Properties by 711.4% in the 2nd quarter. Quarry LP now owns 3,481 shares of the company’s stock worth $87,000 after acquiring an additional 3,052 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in COPT Defense Properties during the 1st quarter worth about $102,000. KBC Group NV grew its stake in COPT Defense Properties by 28.3% during the 3rd quarter. KBC Group NV now owns 3,810 shares of the company’s stock valued at $116,000 after purchasing an additional 840 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of COPT Defense Properties by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,372 shares of the company’s stock worth $134,000 after purchasing an additional 1,130 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Wedbush boosted their price objective on COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lowered their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI lifted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, BTIG Research upped their price objective on COPT Defense Properties from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, COPT Defense Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

COPT Defense Properties Stock Up 0.4 %

Shares of CDP opened at $32.96 on Friday. The firm has a market cap of $3.71 billion, a P/E ratio of 27.02 and a beta of 0.98. COPT Defense Properties has a 12 month low of $22.20 and a 12 month high of $34.22. The stock’s 50 day moving average is $31.58 and its two-hundred day moving average is $28.51. 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 (NYSE:CDP) last released its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32). The company had revenue of $189.23 million during the quarter, compared to analyst estimates of $167.37 million. COPT Defense Properties had a net margin of 18.34% and a return on equity of 8.99%. COPT Defense Properties’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a dividend yield of 3.58%. COPT Defense Properties’s dividend payout ratio (DPR) is presently 96.72%.

Insider Buying and Selling

In other news, COO Britt A. Snider acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now 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 hyperlink. Insiders own 1.06% of the company’s stock.

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.