COPT DEFENSE PROPERTIES
At today's price, COPT DEFENSE PROPERTIES (CDP) is priced for -4.7% FFO growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
At $33.49 the trust trades near 13x adjusted funds from operations, low enough that the price sits below what even a 5% per year decline in funds from operations would warrant. This is not a growth bet; it is a stability bet priced as if stability is in doubt. The valuation families split. Relative-multiple and growth-DCF methods support the price (relative valuation near $44, FFO multiple near $37, two-stage DDM near $28); the asset and earnings-power methods read it as expensive. That is the
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307 institutional managers reported holding CDP in 13F filings for the quarter ended 2026-03-31. 40 opened new positions that quarter. Held by BlackRock, Vanguard Group, AllianceBernstein, among others. On the short side, 6.3M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (6.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CDP's share count grew 0.7% over the past five years even with $64k spent on repurchases. It pays a dividend, and has for 15 years running, raised 3 years straight; the current rate is $1.22 a share annually. Cash returned over the past three years: $367.15M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at CDP over the trailing three years. Absence is a fact about the company, not a signal.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CDP's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -0.7% | -9.0% |
| 2023-11-04 | +0.3% | +6.4% |
| 2024-02-23 | +4.2% | -2.1% |
| 2024-05-02 | +2.9% | +3.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CDP's latest 8-K filings: 2026-05-20 (items 5.07, 9.01); 2026-04-27 (items 2.02, 9.01); 2026-02-05 (items 2.02, 9.01); 2026-02-04 (items 5.02, 9.01); 2025-10-30 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.