COPT Defense Properties

Valuation Analysis

About the Company

COPT Defense Properties, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. As of March 31, 2026, the Company's Defense/IT Portfolio of 201 properties, including 24 owned through unconsolidated joint ventures, encompassed 23.2 million square feet and was 96.4% leased. COPT Defense Properties was incorporated in 1988 and is based in Columbia, United States.

COPT Defense Properties Stock at a Glance

COPT Defense Properties (CDP) is currently trading at $34.54 with a market capitalization of $4B. The trailing P/E ratio stands at 25.21x, with a forward P/E of 24.67x. The 52-week range spans from $26.91 to $34.78; the current price is 0.7% below the yearly high. Year-over-year revenue growth stands at +7.3%. The net profit margin stands at 20%.

💰 Dividend

COPT Defense Properties pays an annual dividend of $1.25 per share, representing a yield of 3.62%. The payout ratio stands at 90.15%. The elevated payout ratio reflects a mature dividend policy.

📊 Analyst Rating

8 analysts rate COPT Defense Properties (CDP) on consensus: Buy. The average price target is $35.88, implying +3.87% from the current price. Analyst price targets range from $34.00 to $38.00.

COPT Defense Properties: The Investment Case in Detail

COPT Defense Properties (CDP) operates in the Real Estate — specifically REIT - Office — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

The combination of a 57.83% gross margin and 29.56% operating margin shows the business converts revenue into profit efficiently — a hallmark of competitive moat. Free cash flow is positive and net margins stand at 20%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.

Valuation in Context

The PEG ratio at 1.02 sits in the reasonable zone — the price tag is roughly aligned with the company's growth profile, neither punishing nor euphoric.

What to Watch Next

• The share is trading at 97% of its 52-week range — a break above the recent high opens technical upside, a failure here often invites profit-taking.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Risk Profile

The data points to relatively defensive market behavior, elevated short interest (6.65%), higher leverage relative to equity.

Trading Data

💵 Dividend Info

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