)
COPT Defense Properties (CDP) investor relations material
COPT Defense Properties Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved adjusted FFO per share of $2.72 for 2025, up 5.8% year-over-year, marking the seventh consecutive year of growth and exceeding guidance midpoint.
Portfolio occupancy remained above 94% for 12 consecutive quarters, with leased rates above 95% for eight quarters.
Executed 3.1 million SF of total leasing in 2025, exceeding targets by nearly 40%, with sector-leading tenant retention.
Committed $278 million to new investments across five projects, 81% pre-leased, with four being expansions for existing tenants.
Announced a third consecutive dividend increase, totaling 10.9% growth over three years.
Financial highlights
2025 adjusted FFO per share was $2.72, 2 cents above revised guidance and 6 cents above initial guidance.
Full year 2025 EPS was $1.34, up from $1.23 in 2024.
Same-property cash NOI increased 4.1% year-over-year, exceeding original guidance midpoint.
Issued $400 million in five-year unsecured notes at 4.6% yield to maturity and $400 million of 4.50% Senior Notes due 2030.
Total revenues for 2025 were $763.9 million, up from $753.3 million in 2024.
Outlook and guidance
2026 FFO per share guidance midpoint set at $2.75, implying 1.1% growth, absorbing a 9-cent increase in financing costs.
2026 EPS guidance midpoint: $1.25.
Same-property cash NOI projected to increase 2.5% at midpoint; occupancy expected between 93.5%-94.5%.
Tenant retention guidance for 2026: 75%-85%; cash rent spreads on renewals: 2.0% at midpoint.
Targeting 400,000 sq ft of vacancy leasing and 80% tenant retention for 2026.
Next COPT Defense Properties earnings date
Next COPT Defense Properties earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)