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COPT Defense Properties logo

COPT Defense Properties

CDP

NYSEReal EstateREIT - Office

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Latest quote

$37.26

+$0.15 · +0.40%

Aug 21, 3:55 PM ET

CDP company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

56

Fair Value

Momentum

53

Neutral

Sentiment

56

Mixed

Risk resilience

78

Moderate Risk

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Company profile

Company website

COPT is a Real Estate Investment Trust (REIT) that focuses on the ownership, management, leasing, development, and strategic acquisition of office and data center assets. The majority of its portfolio is dedicated to serving the United States Government and its contractors, particularly those engaged in national security, defense, and information technology (IT) operations, which the company identifies as growing, resilient, and high-priority missions. Furthermore, COPT maintains a collection of Class-A office properties located in select urban submarkets across the greater Washington, DC/Baltimore metropolitan area, distinguished by strong market characteristics. As of June 30, 2023, 90% of COPT's core portfolio's annual rental income originated from its Defense/IT locations, while the remaining 10% came from its Regional Office properties. On the same date, COPT's core portfolio, including 24 properties held via unconsolidated joint ventures, comprised 192 properties spanning 22.9 million square feet and maintained a 95% occupancy rate.

Industry
REIT - Office
Sector
Real Estate
Headquarters
US
CEO
Stephen E. Budorick
Listed since
Dec 31, 1991
Employees
430

Market position

Volume
294.49K
0.3× average
Average volume
973.11K
Average daily volume
Market cap
4.23B USD
Beta
0.79
Market reference 1

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends39%21%3%-15%Gross margin, FY2021: 31.53%Gross margin, FY2022: 29.82%Gross margin, FY2023: 33.76%Gross margin, FY2024: 34.56%Gross margin, FY2025: 15.43%Operating margin, FY2021: 25.39%Operating margin, FY2022: 24.55%Operating margin, FY2023: 27.51%Operating margin, FY2024: 28.32%Operating margin, FY2025: 30.16%Net margin, FY2021: 11.52%Net margin, FY2022: 23.41%Net margin, FY2023: -10.73%Net margin, FY2024: 18.44%Net margin, FY2025: 19.94%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 31.53%. Gross margin FY2022 29.82%. Gross margin FY2023 33.76%. Gross margin FY2024 34.56%. Gross margin FY2025 15.43%. Operating margin FY2021 25.39%. Operating margin FY2022 24.55%. Operating margin FY2023 27.51%. Operating margin FY2024 28.32%. Operating margin FY2025 30.16%. Net margin FY2021 11.52%. Net margin FY2022 23.41%. Net margin FY2023 -10.73%. Net margin FY2024 18.44%. Net margin FY2025 19.94%.

Income trends

Revenue

763.92M USD+1.41%

Operating income

230.37M USD+7.99%

Net income

152.32M USD+9.64%
Income trends across reported periods847.66M USD512.71M USD177.75M USD−157.21M USDRevenue, FY2021: 664.45M USDRevenue, FY2022: 739.03M USDRevenue, FY2023: 684.98M USDRevenue, FY2024: 753.27M USDRevenue, FY2025: 763.92M USDOperating income, FY2021: 168.7M USDOperating income, FY2022: 181.42M USDOperating income, FY2023: 188.46M USDOperating income, FY2024: 213.32M USDOperating income, FY2025: 230.37M USDNet income, FY2021: 76.54M USDNet income, FY2022: 173.03M USDNet income, FY2023: −73.47M USDNet income, FY2024: 138.93M USDNet income, FY2025: 152.32M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 664.45M USD. Revenue FY2022 739.03M USD. Revenue FY2023 684.98M USD. Revenue FY2024 753.27M USD. Revenue FY2025 763.92M USD. Operating income FY2021 168.7M USD. Operating income FY2022 181.42M USD. Operating income FY2023 188.46M USD. Operating income FY2024 213.32M USD. Operating income FY2025 230.37M USD. Net income FY2021 76.54M USD. Net income FY2022 173.03M USD. Net income FY2023 −73.47M USD. Net income FY2024 138.93M USD. Net income FY2025 152.32M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue763.92M USD753.27M USD684.98M USD739.03M USD664.45M USD
Cost of goods sold646.07M USD492.91M USD453.75M USD518.62M USD454.97M USD
Gross profit117.85M USD260.36M USD231.23M USD220.41M USD209.47M USD
Selling, general, and administrative32.78M USD47.04M USD42.77M USD38.99M USD40.77M USD
Operating expenses−112.52M USD47.04M USD42.77M USD38.99M USD40.77M USD
Interest income12.17M USD16.99M USD16.49M USD9.34M USD9.01M USD
Interest expense88.15M USD83.77M USD72.46M USD61.17M USD65.4M USD
Depreciation and amortization161.83M USD156.02M USD149.03M USD143.59M USD150.64M USD
Operating income230.37M USD213.32M USD188.46M USD181.42M USD168.7M USD
Net income152.32M USD138.93M USD−73.47M USD173.03M USD76.54M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 4 misses, 1 met estimate
Average EPS surprise
-2.19%
11 comparable reports
Latest EPS result
0.4
Estimate 0.33 · Beat by 21.62%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.690.550.410.27Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MetQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 0.31, estimate 0.32, surprise -3.13%, Miss. Q2 2025, reported Apr 28, 2025: actual 0.31, estimate 0.65, surprise -52.31%, Miss. Q3 2025, reported Jul 28, 2025: actual 0.34, estimate 0.336, surprise +1.13%, Beat. Q4 2025, reported Oct 30, 2025: actual 0.37, estimate 0.346, surprise +6.81%, Beat. Q1 2026, reported Feb 5, 2026: actual 0.33, estimate 0.33, surprise 0.00%, Met estimate. Q2 2026, reported Apr 27, 2026: actual 0.34, estimate 0.331, surprise +2.81%, Beat. Q3 2026, reported Jul 27, 2026: actual 0.4, estimate 0.329, surprise +21.62%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 0.345, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates200.69M187.81M174.93M162.05MQ1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 169.77M USD, estimate 172.18M USD, surprise -1.40%, Miss. Q2 2025, reported Apr 28, 2025: actual 175.31M USD, estimate 171.49M USD, surprise +2.23%, Beat. Q3 2025, reported Jul 28, 2025: actual 175.6M USD, estimate 175.17M USD, surprise +0.24%, Beat. Q4 2025, reported Oct 30, 2025: actual 178.27M USD, estimate 177.15M USD, surprise +0.63%, Beat. Q1 2026, reported Feb 5, 2026: actual 185M USD, estimate 179.94M USD, surprise +2.81%, Beat. Q2 2026, reported Apr 27, 2026: actual 192.97M USD, estimate 185.1M USD, surprise +4.25%, Beat. Q3 2026, reported Jul 27, 2026: actual 188.81M USD, estimate 189.36M USD, surprise -0.29%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 192.15M USD, surprise —, Comparison unavailable.

CDP news

businesswire.com

COPT Defense Declares Third Quarter 2026 Common Dividend

COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) announced today that its Board of Trustees declared a regular quarterly dividend of $0.32 per common share for the…

Read source
defenseworld.net

COPT Defense Properties (NYSE:CDP) vs. Empire State Realty Trust (NYSE:ESRT) Head to Head Comparison

Empire State Realty Trust (NYSE: ESRT - Get Free Report) and COPT Defense Properties (NYSE: CDP - Get Free Report) are both real estate companies, but which is the better business? We will contrast the two businesses…

Read source
zacks.com

Why COPT Defense (CDP) is a Great Dividend Stock Right Now

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does COPT Defense (CDP) have what it takes?

Read source
defenseworld.net

Edgestream Partners L.P. Invests $1.83 Million in COPT Defense Properties $CDP

Edgestream Partners L.P. bought a new stake in COPT Defense Properties (NYSE: CDP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The…

Read source
prnewswire.com

Goodyear Earns CDP Supplier Engagement "A" Score

This recognition reflects the company's efforts to engage suppliers on climate-related issues across its value chain. AKRON, Ohio, July 29, 2026 /PRNewswire/ -- Continuing to make progress along its sustainability…

Read source
seekingalpha.com

COPT Defense Properties (CDP) Q2 2026 Earnings Call Transcript

COPT Defense Properties (CDP) Q2 2026 Earnings Call Transcript

Read source

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ETFs holding CDP

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Real Estate ETF logoVanguard Real Estate ETFVNQ
Market value
163.74M
Weight
0.22%
AUM
73.1B USD
Expense ratio
0.13%
Price / 1D
$98.50-0.10%
iShares Core S&P Mid-Cap ETF logoiShares Core S&P Mid-Cap ETFIJH
Market value
143.61M
Weight
0.11%
AUM
125.92B USD
Expense ratio
0.05%
Price / 1D
$76.77+0.52%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
137.48M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
110.58M
Weight
0.14%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
98.95M
Weight
0.05%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
62.84M
Weight
0.09%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
49.35M
Weight
0.05%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
40.62M
Weight
0.28%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%

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