COPT Defense Properties reports on the operating performance of a self-managed real estate investment trust focused on properties near, and in some cases containing, key U.S. Government defense installations and missions. Its Defense/IT Portfolio serves U.S. Government tenants and defense contractors that often require mission-critical and high-security property enhancements.
Recurring CDP news includes FFO and earnings releases, leasing activity, tenant retention, occupancy and leased-rate trends, development commitments, land and property investments, financing activity, dividend declarations, distribution tax treatment, annual guidance and investor conference presentations. Company updates frequently tie portfolio growth to locations such as The National Business Park, Redstone Gateway, Northern Virginia defense and IT locations, Lackland Air Force Base and Navy-support facilities.
COPT Defense (NYSE: CDP) said President & CEO Stephen E. Budorick will present at Citi’s 2026 Global Property CEO Conference on March 2, 2026 at 3:35 p.m. ET in Hollywood, Florida. A live audio webcast and presentation materials will be available on the company investor website.
As of December 31, 2025, the company reported a Defense/IT Portfolio of 201 properties, 23.2 million square feet, and 96.5% leased.
COPT Defense (NYSE: CDP) declared a quarterly dividend of $0.32 per share for Q1 ending March 31, 2026, payable April 15, 2026 to shareholders of record on March 31, 2026. The dividend is annualized at $1.28 per share and represents a 4.9% increase (+$0.015) versus the prior quarterly payout.
The company reported a Defense/IT Portfolio of 201 properties (including 24 in joint ventures), totaling 23.2 million sq ft and 96.5% leased as of December 31, 2025.
COPT Defense (NYSE: CDP) established 2026 guidance: EPS $1.21–$1.29 and FFOPS (Nareit, as adjusted) $2.71–$2.79. 1Q26 guidance: EPS $0.30–$0.32 and FFOPS $0.67–$0.69. Management cites Same Property cash NOI growth, developments placed into service, recent acquisitions, and higher financing costs as drivers.
Key 2026 assumptions include Same Property cash NOI change of 2.0%–3.0% (midpoint 2.5%), year-end occupancy ~93.5%–94.5% (midpoint 94.0%), consolidated interest expense $94M (midpoint), and ~ $200M–$250M planned development/acquisition capital.
COPT Defense (NYSE: CDP) reported strong full-year 2025 results with FFO per share, as adjusted, of $2.72 (up 5.8% vs. 2024) and EPS of $1.34. Same Property cash NOI rose 4.1% year-over-year. Total portfolio occupancy was 94.0% and leased rate 95.3%. The company executed 3.1 million SF of leasing in 2025 and committed $278 million to five new investments that are 81% pre-leased. Capital actions included issuance of $400 million 4.50% senior notes due 2030 and amendments increasing the revolver to $800 million. Net debt to in-place adjusted EBITDA was 5.9x and weighted average effective interest rate was 3.5% (including swaps).
COPT Defense (NYSE: CDP) executed a 148,000 square foot lease with a top‑10 U.S. defense contractor at 400 National Business Parkway, near Fort George G. Meade, for a term of nearly 11 years that is expected to commence in Q4 2026. This raises the company's 882,000 square foot development pipeline to 86% leased.
As of September 30, 2025, the Defense/IT Portfolio comprised 198 properties totaling 22.6 million sq ft and was 97.0% leased. The lease adds mission‑critical tenancy aligned with the company's focus on properties proximate to U.S. government defense installations.
COPT Defense (NYSE: CDP) announced the 2025 tax characterization of its common share distributions. Four quarterly distributions of $0.3050 each total $1.2200 per share, all allocated to 2025 for tax purposes.
Of the $1.2200, $1.1904 is taxable ordinary dividend, $0.0296 is total capital gain distribution, and no return of capital was reported. The 12/31/2025 record-date payment (paid 1/15/2026) is also allocated to 2025.
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COPT Defense (NYSE: CDP) announced the passing of former CEO and trustee Roger A. Waesche, Jr., who served the company for over 30 years and led as CEO from 2011–2016. He originated the Strategic Reallocation Program that concentrated the portfolio in the Defense/IT sector, reduced leverage and helped secure an investment‑grade credit rating. As of Sept 30, 2025 the Defense/IT Portfolio totaled 198 properties (22.6M sq ft) and was 97.0% leased. Mr. Waesche is remembered for his leadership, mentorship and long service to the company.
COPT Defense (NYSE: CDP) executed a build-to-suit lease in December 2025 for a 132,000 sq ft high-security facility in San Antonio with an anticipated $88 million capital commitment; construction is expected to begin in Q3 2026 and rent commencement is expected in Q4 2027. In 2025 the company committed $277 million to five new Defense/IT investments totaling 640,000 sq ft, exceeding its increased guidance range of $225–$275 million. As of Sept 30, 2025, the Defense/IT Portfolio totaled 22.6 million sq ft and was 97.0% leased.
COPT Defense (NYSE: CDP) completed 557,000 square feet of vacancy leasing in 2025 with a weighted-average lease term of about 7.5 years, exceeding the company’s initial target by nearly 40%. Targets were raised from 400,000 to 450,000 and then to 500,000 square feet during 2025; actual leasing exceeded the third-quarter projection by 57,000 sq ft (11%). The activity represented 47% of unleased space at the start of 2025. Leasing included 424,000 sq ft in the Defense/IT Portfolio and 125,000 sq ft in Other (the highest Other-segment level in over a decade). As of Sept 30, 2025 the Defense/IT Portfolio totaled 22.6 million sq ft and was 97.0% leased.