Corporate Office Properties Trust/$CDP
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About Corporate Office Properties Trust
COPT Defense Properties is a fully-integrated and self-managed real estate investment trust (REIT) focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions. Its tenants include the USG and their defense contractors, who are engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. Its properties include 195 operating properties totaling approximately 22.4 million square feet comprised of 16.5 million square feet in 164 office properties and 5.9 million square feet in 31 single-tenant data center shells.
Ticker
$CDP
Sector
Primary listing
NYSE
Employees
427
Headquarters
Website
CDP Metrics
BasicAdvanced
$3.4B
24.04
$1.27
0.95
$1.20
3.99%
Price and volume
Market cap
$3.4B
Beta
0.95
52-week high
$30.90
52-week low
$23.92
Average daily volume
949K
Dividend rate
$1.20
Financial strength
Current ratio
2.692
Quick ratio
2.134
Long term debt to equity
158.208
Total debt to equity
158.467
Dividend payout ratio (TTM)
93.02%
Interest coverage (TTM)
2.73%
Profitability
EBITDA (TTM)
382.32
Gross margin (TTM)
56.88%
Net profit margin (TTM)
19.20%
Operating margin (TTM)
29.82%
Effective tax rate (TTM)
0.22%
Revenue per employee (TTM)
$1,760,000
Management effectiveness
Return on assets (TTM)
3.29%
Return on equity (TTM)
9.62%
Valuation
Price to earnings (TTM)
24.042
Price to revenue (TTM)
4.573
Price to book
2.3
Price to tangible book (TTM)
2.3
Price to free cash flow (TTM)
10.538
Free cash flow yield (TTM)
9.49%
Free cash flow per share (TTM)
2.902
Dividend yield (TTM)
3.92%
Forward dividend yield
3.99%
Growth
Revenue change (TTM)
3.13%
Earnings per share change (TTM)
-222.79%
3-year revenue growth (CAGR)
0.70%
10-year revenue growth (CAGR)
1.75%
3-year earnings per share growth (CAGR)
2.80%
10-year earnings per share growth (CAGR)
10.68%
3-year dividend per share growth (CAGR)
2.94%
10-year dividend per share growth (CAGR)
0.87%
Bulls say / Bears say
COPT outperformed Q2 expectations, posting adjusted FFO of $0.68 per share, beating guidance by 2 cents, and raised its full-year FFO midpoint by $0.01 to $2.67, reflecting strong operational execution.
The company’s portfolio maintained high standards in occupancy and leasing in Q2, with total occupancy at 94.0% and 724,000 square feet leased during the quarter, leading to a 90% tenant retention rate.
COPT benefits from a favorable alignment with increasing defense budgets. The One Big Beautiful Bill Act allocates an additional $113 billion to FY 2026 defense spending—a 13% increase year-over-year—supporting long-term demand for mission-critical facilities.
Uncertainty in U.S. defense appropriations has driven volatility among government contractors, highlighting potential challenges for COPT's tenant base if budget reductions or delays arise, as shown by declines in defense stocks following policymaker appointments that raised concerns over funding stability.
COPT's tenant mix presents a significant risk, with its top 10 tenants accounting for 63.8% of annualized rental income and the U.S. government alone making up 35.9%, exposing the company to possible cash flow disruptions if there are non-renewals or interruptions in funding.
The commercial real estate sector at large faces a substantial refinancing wall, with $950 billion of loans coming due in 2024 and reaching $1.26 trillion by 2027. In this setting, COPT’s $400 million bond maturity in March 2026 may be subject to higher interest rates and refinancing risk.
Data summarised monthly by Lightyear AI. Last updated on 6 Sept 2025.
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Capital at risk
Upcoming events
Sept30
Corporate Office Properties Trust
DividendEx-dividend
Oct16
Corporate Office Properties Trust
DividendPayment
$0.305Per share
FAQs
What’s the current market cap for Corporate Office Properties Trust stock?
Corporate Office Properties Trust (CDP) has a market cap of $3.4B as of September 17, 2025.
What is the P/E ratio for Corporate Office Properties Trust stock?
The price to earnings (P/E) ratio for Corporate Office Properties Trust (CDP) stock is 24.04 as of September 17, 2025.
Does Corporate Office Properties Trust stock pay dividends?
Yes, the Corporate Office Properties Trust (CDP) stock pays dividends to shareholders. As of September 17, 2025, the dividend rate is $1.2 and the yield is 3.99%. Corporate Office Properties Trust has a payout ratio of 93.02% on a trailing twelve-month basis.
When is the next Corporate Office Properties Trust dividend payment date?
The next Corporate Office Properties Trust (CDP) dividend payment is scheduled for October 16, 2025.
What is the beta indicator for Corporate Office Properties Trust?
Corporate Office Properties Trust (CDP) has a beta rating of 0.95. This means that it is less volatile than the market, on average. A beta of 1 would indicate the stock moves in-line with the market, while a beta of 0.5 would mean it moves half as much as the market.