COPT Defense Properties CDP

Company Overview

COPT Defense Properties (NYSE: CDP) is a publicly traded real estate investment trust (REIT) that owns, develops, and operates specialized office and data center–oriented properties primarily serving the U.S. defense and national security community. The company operates within the commercial real estate industry, with a focused emphasis on mission-critical facilities that support defense, intelligence, and government IT operations. Its primary revenue driver is long-term leasing income from U.S. federal government agencies and defense contractors operating in secure environments.

The company’s portfolio is strategically positioned around “Defense/IT Campuses,” which are purpose-built office and data facilities located near major U.S. military installations and federal agencies. This positioning provides a competitive advantage through high tenant retention, security-driven barriers to entry, and stable cash flows. Originally founded in 1988 as Corporate Office Properties Trust, the company evolved from a diversified office REIT into a defense-focused landlord, completing its rebranding to COPT Defense Properties in 2022 to reflect its concentrated strategy.