COPT Defense Properties (NYSE:CDP) Shares Purchased by Thrivent Financial for Lutherans

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

A number of other institutional investors also recently bought and sold shares of CDP. Lazard Asset Management LLC purchased a new stake in shares of COPT Defense Properties in the 1st quarter valued at approximately $102,000. Price T Rowe Associates Inc. MD acquired a new stake in COPT Defense Properties during the first quarter worth $1,702,000. Public Employees Retirement Association of Colorado purchased a new stake in COPT Defense Properties in the first quarter valued at $230,000. Janus Henderson Group PLC acquired a new position in shares of COPT Defense Properties in the 1st quarter valued at $1,255,000. Finally, California State Teachers Retirement System purchased a new position in shares of COPT Defense Properties during the 1st quarter worth $2,721,000.

Analyst Upgrades and Downgrades

CDP has been the topic of several research analyst reports. Wedbush boosted their price objective on shares of COPT Defense Properties from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Evercore ISI boosted their price target on shares of COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Truist Financial boosted their target price on COPT Defense Properties from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company lowered their price target on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.75.

COPT Defense Properties Price Performance

COPT Defense Properties stock opened at $32.96 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.56. COPT Defense Properties has a 52-week low of $22.20 and a 52-week high of $34.22. The firm has a market cap of $3.71 billion, a PE ratio of 27.02 and a beta of 0.98. The company’s 50 day moving average is $31.58 and its two-hundred day moving average is $28.51.

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

COPT Defense Properties Dividend Announcement

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

Insider Transactions at COPT Defense Properties

In other news, COO Britt A. Snider acquired 1,000 shares of COPT Defense Properties stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost 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 $58,820. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.06% of the company’s stock.

COPT Defense Properties Company 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.