COPT Defense Properties (NYSE:CDP) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in COPT Defense Properties (NYSE:CDP) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,405 shares of the company’s stock after acquiring an additional 1,339 shares during the quarter. Pictet Asset Management Holding SA’s holdings in COPT Defense Properties were worth $1,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CDP. Nomura Asset Management Co. Ltd. lifted its stake in COPT Defense Properties by 7.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 151,917 shares of the company’s stock worth $4,702,000 after purchasing an additional 11,137 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in COPT Defense Properties during the 4th quarter worth about $1,098,000. Norges Bank acquired a new position in COPT Defense Properties during the 4th quarter worth about $45,718,000. JPMorgan Chase & Co. boosted its holdings in COPT Defense Properties by 21.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,283,383 shares of the company’s stock valued at $101,621,000 after acquiring an additional 590,051 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in COPT Defense Properties in the 4th quarter valued at about $323,000.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on shares of COPT Defense Properties in a research report on Monday, March 17th. They set a “buy” rating and a $31.00 price target on the stock. Two 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 presently has an average rating of “Moderate Buy” and a consensus target price of $33.43.

COPT Defense Properties Stock Performance

Shares of COPT Defense Properties stock opened at $26.13 on Friday. The business has a 50-day simple moving average of $27.56 and a 200-day simple moving average of $29.98. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.47. COPT Defense Properties has a one year low of $22.20 and a one year high of $34.22. The company has a market cap of $2.94 billion, a PE ratio of 21.24 and a beta of 0.92.

COPT Defense Properties (NYSE:CDP) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. COPT Defense Properties had a net margin of 18.44% and a return on equity of 9.07%. On average, equities research analysts forecast that COPT Defense Properties will post 2.67 EPS for the current fiscal year.

COPT Defense Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be paid a $0.305 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from COPT Defense Properties’s previous quarterly dividend of $0.30. This represents a $1.22 dividend on an annualized basis and a yield of 4.67%. COPT Defense Properties’s dividend payout ratio (DPR) is currently 99.19%.

COPT Defense Properties Profile

COPT Defense Properties is a real estate investment trust. It acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded on January 22,1988 and is headquartered in Columbia, MD.