COPT Defense Properties' FFO per share rises in 2025

Overview

• U.S. defense properties REIT's FFO per share grew 5.8% over 2024

• Company achieved strong leasing performance, exceeding initial annual targets

• Company committed $278 mln to new investments, enhancing pre-leased portfolio

Outlook

• COPT Defense expects 2026 FFO per share growth of 1.1% at the midpoint

• Company's development pipeline for 2026 includes six properties totaling 882,000 SF

Result Drivers

• LEASING SUCCESS - Co exceeded its vacancy leasing target by nearly 40%, contributing to higher occupancy rates

• CAPITAL COMMITMENTS - Co committed $278 mln to 5 new investments, 81% pre-leased, supporting national defense missions

• FFO GROWTH - Co achieved 5.8% growth in FFO per share, marking the 7th consecutive year of growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "hold."

• Wall Street's median 12-month price target for COPT Defense Properties is $33.00, about 6.1% above its February 4 closing price of $31.10

• The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release: ID:nBw6lmLRva

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