STOCK TITAN
  1. Home
  2. News
  3. CDP

COPT Defense Properties - CDP STOCK NEWS

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.

News

COPT Defense Acquires 202,000 Square Foot Building in Columbia, MD

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) has acquired a 202,000 square foot Class A building in Columbia, MD for $15 million. The building is 56% leased to a leading defense contractor, enhancing COPT's position in Columbia Gateway. The acquisition adds modern space to their portfolio at a significant discount, strengthening their presence in the Defense/IT sector and creating shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.41%
Tags
acquisition
-
News

COPT Defense Reports First Quarter 2024 Results

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) reported strong first quarter 2024 results with an EPS of $0.29 and FFO per Share of $0.62, exceeding guidance. The company raised its 2024 FFO guidance by 3 cents to $2.54, indicating 5% growth. Total leasing of 721,000 SF and tenant retention rate of 78% were highlights. The company committed $91 million to new investments and saw a 6.1% increase in Same Property Cash NOI. Financially, the company's net debt adjusted EBITDA ratio was 6.0x. Overall, COPT Defense continues to focus on growth and shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.41%
Tags
earnings
-
News

COPT Defense Provides Conference Call Details to Discuss 1Q 2024 Results

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) schedules the release of first quarter 2024 results with a conference call on April 26, 2024, after the market closes. Participants can register for the call to receive dial-in details and access the webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.68%
Tags
earnings
News

COPT Defense to Present at Citi’s 2024 Global Property CEO Conference

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) President & CEO to present at Citi's 2024 Global Property CEO Conference. Webcast available for replay until March 29, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.68%
Tags
conferences
-
News

COPT Defense Increases Quarterly Dividend by 3.5%

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) raises its quarterly dividend by 3.5% to $0.295 per share for the first quarter of 2024, payable on April 17, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
dividends
-
News

COPT Defense Establishes 2024 Guidance

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) has announced guidance for the year ending December 31, 2024, with diluted earnings per share (EPS) in the range of $1.15−$1.23 and diluted FFO per share (FFOPS) in the range of $2.47−$2.55. The company also provided guidance for the quarter ending March 31, 2024, with EPS in the range of $0.26−$0.28 and FFOPS in the range of $0.59−$0.61. The guidance is based on assumptions related to same property pool, year-end occupancy, tenant retention, cash NOI from developments, G&A expenses, interest expenses, and investment activity. The company's management commentary indicates year-over-year growth driven by an increase in NOI from the same property portfolio and developments placed into service, partially offset by higher interest expense and G&A. The 2024 guidance reflects positive growth driven by embedded cash rent increases, leasing activity, and increases in cash rent at properties added into the 2024 pool.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.23%
Tags
none
News

COPT Defense Reports Full Year 2023 Results

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) reported a full-year EPS of ($0.67) and a 2.5% increase in FFO per share. The Defense/IT portfolio occupancy and leasing rates were the highest reported since 2015. The company achieved several key operating and financial performance milestones in 2023, exceeding leasing goals and tenant retention targets. However, the 3rd quarter impairment of assets in the Other segment affected the financial results, leading to a negative EPS for the year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.23%
Tags
earnings
-
News

COPT Defense Announces Tax Treatment of 2023 Distributions

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) announced the 2023 tax treatment of its common share distributions. The distributions with a record date of December 30, 2022, and payment date of January 17, 2023, and the distributions with a record date of December 29, 2023, and payment date of January 18, 2024, were allocated to 2023 for income tax purposes. The total distribution per share for 2023 was $1.4150, with $0.7214 allocated to taxable ordinary dividends and $0.6936 to total capital gain distribution. Shareholders are advised to consult with their tax advisors for specific tax treatment.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.58%
Tags
none
-
News

COPT Defense Exceeds Development Leasing Guidance and Vacancy Leasing Target in 2023

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) published its 2023 Corporate Sustainability Report and TCFD Report, showcasing strong leasing performance and exceeding leasing targets in 2023. The company executed a long-term lease with a Fortune 100 company for a 225,000 square foot development in Northern Virginia and completed a 26,500 square foot lease with a leading defense contractor in Huntsville, Alabama. The company also exceeded its 2023 guidance for development and vacancy leasing, demonstrating the strength of its leasing team and the strategic nature of its portfolio. The ESG update includes the publication of the eighth annual Corporate Sustainability Report and the second annual Task Force on Climate-Related Financial Disclosures Report for 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.02%
Tags
none
News

COPT Defense Provides Conference Call Details to Discuss 4Q and YE 2023 Results and Management’s 2024 Outlook

Rhea-AI Summary
COPT Defense Properties (NYSE: CDP) announces the release date and conference call details for discussing fourth-quarter and year-end 2023 results and guidance for 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.71%
Tags
earnings

FAQ

What is the current stock price of COPT Defense Properties (CDP)?

The current stock price of COPT Defense Properties (CDP) is $31.84 as of November 22, 2024.

What is the market cap of COPT Defense Properties (CDP)?

The market cap of COPT Defense Properties (CDP) is approximately 3.6B.

What is COPT Defense Properties?

COPT Defense Properties is a real estate investment trust specializing in acquiring, developing, managing, and leasing office and data center properties for U.S. government and defense contractors.

Where are COPT's properties located?

COPT's properties are primarily located in large office parks in the Greater Washington, D.C./Baltimore region and Northern Virginia.

Who are the main tenants of COPT?

The main tenants of COPT include U.S. Government agencies and defense contractors such as Northrop Grumman and Boeing.

How does COPT generate revenue?

COPT generates nearly all of its revenue from rental income, primarily through leasing office and data center properties to government and defense sector tenants.

What recent developments has COPT undertaken?

Recent developments include the expansion of office parks and the development of advanced data centers to meet the needs of specialized tenants.

Is COPT financially stable?

Yes, COPT maintains a strong financial condition with long-term leases and a diversified tenant base ensuring stable income streams.

What makes COPT's approach unique?

COPT's approach is unique due to its focus on high-demand government submarkets and the specialized requirements of defense information technology and national security sectors.

What is the significance of COPT being an S&P MidCap 400 company?

Being an S&P MidCap 400 company signifies that COPT is recognized for its mid-sized, stable, and well-established market performance.

What are the current projects of COPT?

Current projects include developing new office spaces and enhancing existing properties to align with evolving technological and security needs.

Where can I find more information about COPT?

More information about COPT Defense Properties can be found on their official website at www.copt.com.

Stock CDP logo
COPT Defense Properties

NYSE:CDP

CDP Rankings

#1553 Ranked by Market Cap
#802 Ranked by Dividends

CDP Stock Data

3.58B
112.32M
0.33%
108.34%
3.47%
REIT - Office
Real Estate Investment Trusts
Link
United States of America
COLUMBIA