COPT Defense Properties (CDP) AI Stock Analysis

COPT Defense Properties is a self-managed real estate investment trust specializing in the ownership, operation, and development of properties located near or within critical U.S. Government defense installations and missions. Known as its Defense/IT Portfolio, these facilities cater primarily to the U.S. Government and defense contractors requiring mission-critical infrastructure and heightened security measures. As of December 31, 2023, the company's portfolio included 190 properties totaling 21.7 million square feet, with 24 owned via unconsolidated joint ventures. These properties held an occupancy rate of 97.2%.

COPT Defense increased annual revenue from $664.4M in FY2021 to $763.9M in FY2025, delivering a 5-year revenue CAGR of 5.5%. Annual net income rose to $152.3M in FY2025, rebounding from net income of -$73.5M in FY2023. Gross margin stood at 15.4% in FY2025, while operating margin expanded to 30.2%. For the trailing twelve months, revenue reached $788.1M with a net profit margin of 20.8% and EPS of $1.44. In the latest quarter ended June 30, 2026, quarterly revenue grew 3.9% year-over-year, and quarterly earnings grew 19.2%.

As of June 30, 2026, COPT Defense held $24.2M in cash and short-term investments against total debt of $2.67B, resulting in net debt of $2.65B. Shareholders' equity was $1.53B, yielding a debt-to-equity ratio of 1.75 and a current ratio of 6.85. In FY2025, the trust generated operating cash flow of $334.9M and free cash flow of $253.7M. Capital expenditures totaled $81.3M and dividends paid were $136.6M in FY2025, while share count changed 1.0% over five years.

CDP trades at a trailing P/E of 23.1x and a forward P/E of 38.2x, compared to the median of its US-listed Real Estate peers of 21.6x and 23.5x, respectively. Its price-to-sales multiple is 4.9x versus the peer median of 3.7x, while its EV-to-EBITDA stands at 15.0x compared to the peer median of 14.7x. Over the past 1-year period, the stock returned 24.0%, outperforming the S&P 500 (SPY) return of 16.8%. Over 5 years, the stock returned 45.3% versus 83.0% for the S&P 500.

COPT Defense pays a quarterly dividend with an annual forward payout of $1.28, representing a dividend yield of 3.84%. The company has paid dividends for 35 consecutive years, with an annualized 5-year dividend growth rate of 2.1%. Its payout ratio is 73.1%, and the last ex-dividend date was September 30, 2026.

Wall Street analysts hold 5 Strong Buy and 3 Hold ratings on CDP. The mean price target is $39.75, which sits 19.4% above the last close of $33.29. For the fiscal year ending December 31, 2026, analysts estimate EPS of $1.45 on revenue of $786.0M. The company beat EPS estimates in 2 of the last 4 quarters, and the next earnings date is October 29, 2026.

This page is an AI-written research summary of COPT Defense Properties (CDP). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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