COPT Defense Properties ( CDP ) Q3 2025 Earnings Call October 31, 2025 12:00 PM EDT Company Participants Venkat Kommineni - Vice President of Investor Relations Stephen E. Budorick - President, CEO & Trustee Britt Snider - Executive VP & COO Anthony Mifsud - Executive VP & CFO Conference Call Participants Blaine Heck - Wells Fargo Securities, LLC, Research Division Steve Sakwa - Evercore ISI Institutional Equities, Research Division Seth Bergey - Citigroup Inc. Exchange Research Richard Anderson Dylan Burzinski - Green Street Advisors, LLC, Research Division Presentation Operator Welcome to the COP Defense Properties Third Quarter 2025 Results Conference Call.
While the top- and bottom-line numbers for COPT Defense (CDP) give a sense of how the business performed in the quarter ended September 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
COPT Defense (CDP) came out with quarterly funds from operations (FFO) of $0.69 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to FFO of $0.65 per share a year ago.
| Office REITs Industry | Real Estate Sector | Stephen E. Budorick CEO | NYSE Exchange | 22002T108 CUSIP |
| US Country | 427 Employees | 31 Dec 2025 Last Dividend | - Last Split | - IPO Date |
COPT Defense is an esteemed S&P MidCap 400 Company, structured as a self-managed Real Estate Investment Trust (REIT) with a strategic focus on the acquisition, management, and development of properties situated near or containing essential U.S. Government defense installations and missions. This specialization forms the core of its Defense/IT Portfolio. Catering primarily to the U.S. Government (USG) and its defense contractors engaged in national security activities, COPT Defense emphasizes the importance of mission-critical and highly secure property enhancements to meet the specialized needs of its tenants. As of December 31, 2023, the company's impressive portfolio includes 190 properties, of which 24 are owned via unconsolidated joint ventures, covering a total of 21.7 million square feet. This portfolio boasts a 97.2% occupancy rate, underlining the high demand and strategic importance of the company's real estate assets.
COPT Defense's portfolio is built around providing strategic real estate solutions through two primary offerings:
The company specializes in owning, operating, and developing properties that are strategically located near or contain key U.S. Government defense installations and missions. This proximity is crucial for tenants involved in national security activities, requiring immediate access to their operations and the security that comes with being close to critical defense infrastructures.
To cater to the unique needs of its tenants, COPT Defense invests in specialized property enhancements that ensure the highest levels of security and functionality. These enhancements are designed to support the mission-critical operations of its tenants, who are primarily engaged in priority national security activities. The company's ability to provide such specialized enhancements positions it as a preferred partner for the USG and defense contractors requiring advanced, secure real estate solutions.