33.46
+1.79%
Close of 9 Nov 2026, in USD
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About COPT Defense Properties
From its filings with the US Securities and Exchange Commission
COPT Defense Properties is based in Columbia, Maryland and is incorporated in Maryland. Its shares trade on NYSE under the ticker CDP. The SEC classifies its business as real estate investment trusts. In the fiscal year to 31 December 2025, it reported revenue of $763.9m and net income of $159.5m. At that date it held total assets of $4.70bn and shareholders' equity of $1.51bn.
We also owned sixother operating properties totaling 2.0 million square feet and approximately 50 acres of other developable land in the Greater Washington, DC/Baltimore region as of December 31, 2025.
We conduct almost all of our operations and own almost all of our assets through our operating partnership, COPT Defense Properties, L.P. (“CDPLP”) and subsidiaries (collectively, the “Operating Partnership”), of which COPT Defense is the sole general partner. CDPLP owns real estate directly and through subsidiary partnerships and limited liability companies (“LLCs”). In addition to owning real estate, CDPLP also owns subsidiaries that provide real estate services such as property management, development and construction services primarily for our properties but also for third parties, most of which are tenants. Some of these services are performed by a taxable REIT subsidiary (“TRS”).
Equity interests in CDPLP are in the form of common and preferred units. As of December 31, 2025, COPT Defense owned 97.5% of the outstanding CDPLP common units (“common units”) and there were no preferred units outstanding. Common units not owned by COPT Defense carry certain redemption rights. The number of common units owned by COPT Defense is equivalent to the number of outstanding common shares of beneficial interest (“common shares”) of COPT Defense, and the entitlement of common units to quarterly distributions and payments in liquidation is substantially the same as that of COPT Defense common shareholders.
Quoted from its 10-K, filed 20 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Real Estate
- Industry
- Equity Real Estate Investment Trusts (REITs)
- Listed since
- 31 Dec 1991
- Employees
- 430
- Website
- copt.com ↗
- Head office
- 6711 COLUMBIA GATEWAY DRIVE, COLUMBIA, MD, 21046
- Incorporated in
- MD
- Classification
- Real Estate Investment Trusts
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Robert DentonIndependent Chairman of the Board of Trustees$286,557
- Mr. Stephen BudorickPresident, Chief Executive Officer, Trustee, since 2011$7.6m
- Mr. Britt SniderChief Operating Officer, Executive Vice President$2.5m
- Mr. Anthony MifsudChief Financial Officer, Executive Vice President$2.7m
- Mr. Philip HawkinsIndependent Trustee$213,455
- Ms. Letitia LongIndependent Trustee$217,353
- Ms. Essye MillerIndependent Trustee$204,455
- Mr. Raymond OwensIndependent Trustee$200,455
- Mr. C. Taylor PickettIndependent Trustee$215,455
- Ms. Lisa TrimbergerIndependent Trustee$221,955
- Ms. Michelle LayneManager, Investor Relations, since 2022
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 64
- Environment
- 51
- Social
- 76
- Governance
- 64
- Direct emissions (scope 1)
- 10,504 t
- Energy emissions (scope 2)
- 58,399 t
- Women in the workforce
- 33.02108%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Corporate Office Properties Trust (COPT) has several strengths that contribute to its success and competitiveness in the market. One major strength is its strong portfolio of office properties, strategically located in key markets across the United States. This extensive portfolio allows COPT to attract a diverse range of tenants, minimizing risks and ensuring a steady stream of rental income.
- Furthermore, COPT benefits from long-term leases with its tenants, providing stability and a predictable cash flow. This is complemented by the company's expertise in property management and leasing, allowing for efficient operations and maximizing occupancy rates.
- Another strength of COPT is its financial stability and solid balance sheet. The company has a strong credit rating and access to capital, enabling it to invest in and develop new properties, as well as undertake growth initiatives to expand its portfolio and increase shareholder value.
Weaknesses
- Despite its strengths, COPT also faces certain weaknesses that may impact its performance. One weakness is its dependence on a few key tenants, which poses a concentration risk. If these key tenants were to terminate their leases or experience financial difficulties, COPT's rental income and occupancy rates could be negatively affected.
- Additionally, COPT operates in a competitive market, where other real estate investment trusts (REITs) and property developers also vie for tenants and investment opportunities. This poses a challenge for COPT to differentiate itself and attract high-quality tenants on favorable lease terms.
Opportunities
- COPT has several opportunities that it can capitalize on to drive growth and enhance its market position. One opportunity lies in the growing demand for modern, well-located office spaces, driven by trends such as remote working, flexible office solutions, and the need for collaborative work environments. COPT can leverage its expertise in property development and management to meet this demand and attract tenants seeking innovative office solutions.
- Another opportunity for COPT is the increasing focus on sustainability and energy efficiency in the real estate industry. By incorporating sustainable practices into its properties and offering green building certifications, COPT can appeal to environmentally conscious tenants and gain a competitive edge in the market.
- Furthermore, COPT can explore potential expansion into new geographical markets, both within the United States and internationally, to diversify its portfolio and mitigate risks associated with regional economic fluctuations.
Threats
- COPT faces various threats that may pose challenges to its business operations and profitability. One significant threat is the potential impact of economic downturns and market volatility, which can affect the demand for office spaces and put downward pressure on rental rates. This vulnerability to economic cycles underscores the need for COPT to closely monitor market conditions and adjust its strategies accordingly.
- Additionally, regulatory and legal changes, such as zoning restrictions or tax modifications, can impact the real estate industry and potentially affect COPT's operations. Keeping abreast of regulatory developments and proactively responding to changes is crucial for COPT to minimize potential risks.
- Finally, technological advancements and shifts in workplace preferences, such as the rise of remote work or the adoption of shared office spaces, may disrupt traditional office leasing models. COPT needs to stay agile and adapt to these changes by embracing technology and evolving its offerings to remain competitive in the evolving office market.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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