COPT Defense Properties (CDP) Stock

COPT Defense Properties (CDP) is a Real Estate stock trading at $37.27 (as of 2026-08-21), with a market capitalization of $4.23B and a trailing P/E of 25.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

COPT Defense Properties is a REIT that owns, manages, leases, develops, and selectively acquires office and data center properties. Its portfolio is primarily concentrated in Defense/IT locations supporting U.S. government activities and related contractors, with a smaller set of office properties in the Greater Washington, DC/Baltimore region.

Understand COPT Defense Properties: how it makes money

COPT Defense Properties is a REIT that owns, manages, leases, and develops office and data center properties, mainly for United States Government and national security and IT contractor tenants, and it makes money primarily from rental revenues.

The profit model is driven by recurring rental income from a defense and IT focused portfolio, supported by owning and selectively developing and acquiring properties in locations tied to durable U.S. Government and contractor missions.

Business quality (Mixed): Clear REIT rental model and tenant focus, but the provided data highlights limited visibility into broader operating drivers beyond top tenant annualized rent.

Valuation: At 25× earnings, CDP trades 25% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Defense/IT tenant focus supports durability: A majority of the portfolio is in Defense/IT locations that support U.S. Government and contractor activities tied to national security and information technology.
  • Rental revenue anchored by major tenants: Top ten tenants annualized rental revenue is a key disclosed metric, indicating a measurable concentration of contracted or expected rent contribution.

Bear case

  • Tenant concentration risk: With a large portion of the portfolio reflected through top ten tenant annualized rental revenue, results may be sensitive to changes in those tenants' occupancy or lease terms.
  • Portfolio and demand tied to government and contractor priorities: The investment thesis is heavily linked to locations supporting U.S. Government and its contractors, so shifts in those priorities could affect leasing demand.
Valuation — source: SEC EDGAR (first-party)
Price$37.27
Market Cap$4.23B
P/E Ratio25.1
EV / EBITDA20.3
Price / Book2.67
Price / Sales5.31
DCF Value (model)$34.04
DCF Upside vs Price-8.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$763.92M
Net Margin20.9%
Revenue Growth (YoY)3.9%
EPS Growth (YoY)20.6%
Valuation vs Sector & Industry
Stock P/E25.1
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector-7.5%
vs Industry-28.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($651.80M)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorReal Estate
IndustryTrading
CEOStephen E. Budorick
Employees427
CountryUS
IPO Date1991-12-31

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CDP earnings history · CDP institutional & insider holders · CDP KPIs & operating metrics · CDP financials · CDP investor presentations & press releases · CDP SEC filings · CDP peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.