Overview

* COPT Defense Q3 FFO per share grows 6.2% yr/yr, exceeding guidance midpoint

* Company raises 2025 FFO per share guidance midpoint by $0.03 to $2.70

* COPT Defense maintains strong occupancy, leased rate highest in 20 years

Outlook

* Company raises 2025 FFO per share guidance midpoint by $0.03 to $2.70

*

* Company increases 2025 vacancy leasing target to 500,000 SF

Result Drivers

* HIGH OCCUPANCY - Co's Defense/IT portfolio is 95.4% occupied and 97.0% leased, highest in 20 years

* LEASING OUTPERFORMANCE - 3Q25 total leasing of 971,000 SF

* CAPITAL DEPLOYMENT - Committed $72M to new investments, including a build-to-suit project and a building acquisition

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $43.74

Income mln

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 "buy"

* Wall Street's median 12-month price target for COPT Defense Properties ( CDP ) is $33.00, about 16.7% above its October 29 closing price of $27.49

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)