COPT DEFENSE PROPERTIES (CDP)
Real Estate · Government and defense real estate investment trust · NYSE
A REIT specializing in mission-critical office and data center real estate located near U.S. defense installations, serving government agencies and security-focused contractors.
What COPT DEFENSE PROPERTIES does
COPT Defense Properties is a self-managed REIT that owns, operates, and develops properties located near key U.S. Government defense installations and missions. The portfolio includes office properties and single-tenant data center shells leased primarily to the U.S. Government and defense contractors requiring mission-critical and high-security facilities. As of December 31, 2025, the company owned 201 operating properties totaling 23.2 million square feet, with five properties under development and control of approximately 1,000 acres of developable land.
Themes: ["Defense real estate / national security","Data center real estate","Government contracting / federal tenants","REIT / income-producing real estate"]
Fundamentals
- Price$36.42 as of 2026-07-09 close
- Market cap$8.3B as of 2026-07-10
- 1-year return+29.1% as of 2026-07-09 close
- P/E52.85 as of 2026-07-10
- Net margin+20.1% as of 2026-07-10
- Gross margin+58.8% as of 2026-07-10
- ROE+10.3% as of 2026-07-10
- Debt / equity1.68 as of 2026-07-10
- Revenue growth (YoY)+3.9% as of 2026-07-10
- Revenue CAGR (3y)+1.1% SEC XBRL
- Beta0.80 as of 2026-07-10
Dividend: yield +3.5%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Concentration risk: 90.3% of annualized rental revenue from Defense/IT Portfolio dependent on U.S. Government and defense contractor tenants, making the company vulnerable to changes in federal defense spending and appropriations.","Tenant composition and renewal risk: Heavy reliance on a limited number of government agencies and prime defense contractors; loss of major tenants or non-renewal of government contracts could significantly impact revenues.","Development and construction execution risk: The company has approximately 646,000 square feet under development and controls significant developable land; delays, cost overruns, or lower-than-expected leasing of new properties could impact profitability and returns."]
Competitors & peers
- Ventas (VTR)
- Essential Properties Realty Trust (EPRT)
- Monmouth Real Estate Investment Corporation (MNR)
- Easterly Government Properties (DEA)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.