Welcome to our dedicated page for COPT Defense Properties news (Ticker: CDP), a resource for investors and traders seeking the latest updates and insights on COPT Defense Properties stock.
COPT Defense Properties (symbol: CDP) is a specialized real estate investment trust (REIT) focused on acquiring, developing, managing, and leasing office and data center properties. Primarily serving the U.S. government and defense contractors, COPT targets projects that are essential for defense information technology and national security. The company's strategic portfolio includes properties concentrated in large office parks near key government demand drivers, particularly in the Greater Washington, D.C./Baltimore region.
As an S&P MidCap 400 company, COPT Defense Properties has built a robust portfolio largely composed of office buildings in the Baltimore-Washington Corridor and Northern Virginia area. The company derives nearly all of its revenue from rental income, with a significant portion coming from leases with U.S. Government agencies and contractors like Northrop Grumman and Boeing. This focused approach allows COPT to maintain a stable and secure income stream, given the consistent demand from these crucial sectors.
Recent achievements include the development of advanced data centers and the expansion of existing office parks to accommodate the growing needs of their specialized tenants. COPT's financial condition remains strong, bolstered by long-term leases and a diversified tenant base. The company's strategic partnerships and targeted market approach ensure that it remains a key player in the real estate sector, catering to the specialized needs of national security and defense information technology.
With a clear focus on high-demand government submarkets, COPT continues to explore opportunities for growth and expansion. Current projects include the development of new office spaces and the enhancement of existing properties to meet evolving technological and security requirements. For more detailed information, please visit www.copt.com.
COPT Defense (NYSE: CDP) has declared a quarterly dividend of $0.295 per common share for Q4 2024, representing an annualized dividend of $1.18 per share. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. The company, an S&P MidCap 400 REIT, specializes in properties near U.S. Government defense installations. As of September 30, 2024, their Defense/IT Portfolio comprised 194 properties with 22.2 million square feet and maintained a 96.5% lease rate.
COPT Defense (NYSE: CDP) reported strong Q3 2024 results with EPS of $0.32 and FFO per share of $0.65, exceeding guidance by $0.01. The company increased its 2024 FFO per share guidance midpoint to $2.57, implying 6.2% growth. The Defense/IT portfolio achieved 95.0% occupancy and 96.5% leasing rates, with same-property cash NOI growing 9.4% in Q3. Total leasing reached 829,000 SF in Q3 and 2.5 million SF year-to-date, with 88% tenant retention. Notable acquisitions include a 365-acre land parcel in Des Moines for data center development and an 80,000 SF building in San Antonio, subsequently fully leased to the U.S. Government.
COPT Defense (NYSE: CDP) has made two strategic acquisitions: a 365-acre land parcel near Des Moines, Iowa for $32 million and an 80,000 square foot building in San Antonio, Texas for $17 million. The Iowa site can accommodate approximately 3.3 million square feet of data center development with 1 gigawatt power capacity. The San Antonio building is fully leased to the U.S. Government with occupancy expected in Q2 2025. Des Moines, being the 5th largest hyperscale market, offers attractive land values, power availability, renewable energy access, and tax incentives. The Company plans to self-fund the Iowa development on a leverage-neutral basis.
COPT Defense Properties (NYSE: CDP) has announced the release date and conference call details for its third quarter 2024 results. Key points:
- Results will be released on Monday, October 28, 2024, after market close
- Conference call scheduled for Tuesday, October 29, 2024, at 12:00 p.m. Eastern
- Participants must register for the call to receive dial-in information
- A live webcast will be available on the company's Investors website
COPT Defense is a self-managed REIT focusing on properties near or containing key U.S. Government defense installations. As of June 30, 2024, the company's Defense/IT Portfolio comprised 193 properties, including 24 owned through joint ventures, totaling 22.0 million square feet with a 96.7% lease rate.
COPT Defense Properties (NYSE: CDP) has announced its participation in the BofA Securities 2024 Global Real Estate Conference. The company's President and CEO, Stephen E. Budorick, will present an overview and engage in a Q&A session on September 11, 2024, at 3:45 p.m. Eastern Time. A live audio webcast will be available on the company's Investors website.
COPT Defense is a self-managed REIT specializing in properties near or containing key U.S. Government defense installations and missions. As of June 30, 2024, the company's Defense/IT Portfolio comprised 193 properties, including 24 owned through joint ventures, totaling 22.0 million square feet with a 96.7% lease rate. The company's tenants primarily include the USG and defense contractors engaged in national security activities.
COPT Defense Properties (NYSE: CDP) has declared a quarterly dividend of $0.295 per common share for Q3 2024, payable on October 17, 2024, to shareholders of record on September 30, 2024. This represents an annualized dividend of $1.18 per share. COPT Defense is an S&P MidCap 400 Company and a self-managed REIT focused on properties near or containing key U.S. Government defense installations and missions. As of June 30, 2024, the company's Defense/IT Portfolio comprised 193 properties, including 24 owned through unconsolidated joint ventures, totaling 22.0 million square feet with a 96.7% occupancy rate. The company's tenants primarily include the U.S. Government and defense contractors engaged in national security activities.
COPT Defense (NYSE: CDP) reported strong Q2 2024 results, with EPS of $0.31 and FFO per share of $0.64, exceeding guidance. The company increased its 2024 FFO per share guidance midpoint by $0.02 to $2.56, implying 5.8% year-over-year growth. Key highlights include:
- Defense/IT Portfolio: 95.5% occupied, 96.7% leased
- Same Property Cash NOI: Increased 10.9% in Q2, 8.5% year-to-date
- Total Leasing: 1.0 million SF in Q2, 1.7 million SF year-to-date
- Tenant Retention: 86% in Q2, 83% year-to-date
- Development Pipeline: 959,000 SF, 74% leased
The company raised guidance for same property cash NOI growth, year-end occupancy, and tenant retention, demonstrating strong demand in its defense-focused portfolio.
COPT Defense Properties (NYSE: CDP) will release its second quarter 2024 results on Monday, July 29, 2024, after the market closes. Management will discuss the results in a conference call on Tuesday, July 30, 2024, at 12:00 p.m. Eastern. Participants must register to receive the dial-in number and personal pin. The conference call can also be accessed via a live webcast on the company's Investors website. A replay will be available shortly after the call ends.
COPT Defense, a self-managed REIT and S&P MidCap 400 company, focuses on owning and developing properties near key U.S. Government defense installations. As of March 31, 2024, the company's Defense/IT Portfolio included 193 properties with 22.0 million square feet, 96.8% of which were leased.
COPT Defense Properties (NYSE: CDP) announced that its President and CEO, Stephen E. Budorick, will present at Nareit’s REITweek: 2024 Investor Conference on June 5, 2024. The session, including a Q&A, will take place at 10:15 a.m. Eastern Time at the New York Hilton Midtown. A live audio webcast and materials will be available on the COPT Investors website.
COPT Defense focuses on owning, operating, and developing properties near key U.S. Government defense installations. The company’s tenants include the U.S. Government and defense contractors engaged in national security activities, requiring high-security property enhancements. As of March 31, 2024, COPT’s Defense/IT Portfolio comprised 193 properties (22.0 million square feet) with a 96.8% leasing rate.
COPT Defense Properties (NYSE: CDP) declared a regular quarterly dividend of $0.295 per common share for the second quarter ending June 30, 2024. The dividend is payable on July 17, 2024, to shareholders of record on June 28, 2024. COPT Defense is a REIT focused on properties near US Government defense installations.
FAQ
What is the current stock price of COPT Defense Properties (CDP)?
What is the market cap of COPT Defense Properties (CDP)?
What is COPT Defense Properties?
Where are COPT's properties located?
Who are the main tenants of COPT?
How does COPT generate revenue?
What recent developments has COPT undertaken?
Is COPT financially stable?
What makes COPT's approach unique?
What is the significance of COPT being an S&P MidCap 400 company?
What are the current projects of COPT?
Where can I find more information about COPT?
