CDP at a glance
COPT DEFENSE PROPERTIES (CDP, SEC CIK 860546) filed its latest 10-K annual report on February 20, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on July 27, 2026 and Form 4 insider filings as recently as August 7, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), COPT DEFENSE PROPERTIES (CDP) reported revenue of $42.1 million (down 44.3% from FY2024) and net income of $151.7 million. Diluted EPS was $1.34.
- As of June 30, 2026, 33 institutional investment managers tracked by SignalX reported holding COPT DEFENSE PROPERTIES (CDP) shares worth $2.7 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by DENTON ROBERT L on May 26, 2026 of 3,922 shares at $32.38 per share.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $42.1M
- −44.3% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 33 funds
- $2.7B · −1 vs prior quarter
- Latest 8-K
- Jul 27, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Fully-integrated REIT owning, operating, developing office and single-tenant data center shells near USG defense installations
- New emphasis: Data center shells in Northern Virginia tailored for cloud computing and AI tenants with triple-net leases and long-term extensions
- Strategic focus: Growth concentrated on Defense/IT Portfolio properties at 201 operating sites, 90.3% of rental revenue, with 646,000 sq ft development pipeline
- Workforce: 430 employees, 15.6% turnover including 12 retirements, over one-third with government credentials supporting sensitive tenant needs
- Sustainability: Earned “Green Star” ESG rating for 11th consecutive year, integrating LEED design and EPA resource conservation in operations
Risk Factors
- Regulatory risk: potential costs and penalties from environmental laws and regulations affecting capital improvements
- Geopolitical risk: 35.4% of annualized rent revenue (ARR) from U.S. Government, exposed to federal budget reductions or shutdowns
- Operational risk: reliance on 10 largest tenants accounting for 64.4% of ARR risks revenue concentration and tenant default
- Competitive risk: evolving office real estate trends (remote work, coworking) may reduce future demand for their properties
- Financial risk: fixed operating costs may rise even if rental revenue declines, potentially requiring additional borrowing
Management Discussion & Analysis
- Revenue: ARR $728.1M in 2025 vs $686.8M in 2024, up 6.0% YoY driven by increased rents and external growth
- Profitability: NOI up $26.7M (+6.4%), EPS $1.34 vs $1.23 in 2024, diluted FFO per share up 5.8% YoY
- Best segment: Defense/IT Portfolio; 90.3% of ARR, occupancy 95.5% (up from 95.4%), tenant retention 79.3% with 2.7% cash rent growth
- Worst segment: Other segment, 9.7% of ARR, occupancy improved to 75.5% but still low; accounted for 31% of portfolio vacancy
- Cash & capital: $275M cash, $746M borrowing capacity (Revolving Credit Facility), $104M (Development Facility); $40M acquisition plus $233.4M committed to developments; issued $400M notes at 4.5% to refinance $400M maturing notes
- Outlook/risks: Expect continued defense budget increases supporting demand; risks include government shutdowns, leasing delays, market conditions, and cybersecurity threats
AI summary of the CDP 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $197.4M, up $7.5M YoY from $189.9M
- Net income $48.6M vs $40.2M YoY; NOI $120.1M vs $112.4M
- Best segment Defense/IT Same Property NOI $106.7M vs $103.7M; Other $8.3M vs $8.2M
- Occupancy 94.1% vs 94.0% at December 31, 2025; ARR $36.65 vs $36.14
- $400.0M 2.25% Notes repaid at maturity; higher interest from replacement 4.50% Notes due 2030
Risk Factors
- No material changes to risk factors from the 2025 Form 10-K
- No newly added quarterly risk factor or triggering event disclosed
- Carried-forward regulatory, operational, competitive, market, and financial risks unchanged from the 2025 Form 10-K
AI summary of the CDP 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Earnings release covers financial results for period ended June 30, 2026
- Supplemental property and operations information available in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- 2Q26 net income $48.6M, up from $40.2M; diluted EPS $0.40 versus $0.34 year over year
- 2Q26 diluted FFO/share $0.71 versus $0.68; AFFO $69.1M, supporting a 53.3% AFFO payout ratio
Item 5.07: Submission of Matters to a Vote of Security Holders
- All eight trustees re-elected for one-year terms, with support ranging from 94.6% to 99.7% of votes cast
- Executive compensation approved on an advisory basis, with 96.8% of votes cast supporting the proposal
Item 2.02: Results of Operations and Financial Condition
- Q1 2026 results released for period ended March 31, 2026
- Supplemental property and operating information included in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q1 2026 net income $40.1M and diluted EPS $0.34, up from $36.2M and $0.31 year over year
- Diluted FFO per share $0.69 versus $0.65, supporting a 46.0% FFO payout ratio
AI summaries of CDP 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for CDP
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| DENTON ROBERT L | C | Aug 6, 2026 | 1,000 | - |
| DENTON ROBERT L | C | Jul 29, 2026 | 0 | - |
| DENTON ROBERT L | C | Jun 26, 2026 | 0 | - |
| DENTON ROBERT L | Sell | May 26, 2026 | 3,922 | $32.38 |
| HAWKINS PHILIP L | A | May 14, 2026 | 7,448 | - |
| Owens Raymond Lee | A | May 14, 2026 | 3,803 | - |
| Miller Essye B. | A | May 14, 2026 | 3,803 | - |
| Trimberger Lisa G | A | May 14, 2026 | 3,803 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Profitability | ||||
| Revenue | $60.2M | $75.5M | $42.1M | |
| Net Income | -$74.7M | $138.4M | $151.7M | |
| Net Margin | -124.1% | 183.2% | 360.5% | |
| Balance Sheet | ||||
| Total Assets | $4.2B | $4.3B | $4.7B | |
| Equity | $1.5B | $1.5B | $1.5B | |
| ROE | -5.0% | 9.3% | 10.0% | |
| Per Share | ||||
| EPS | $-0.67 | $1.23 | $1.34 | |
| Cash Flow | ||||
| Operating CF | $276.3M | $331.0M | $309.9M | |
Source: XBRL data in COPT DEFENSE PROPERTIES (CDP)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate CDP share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 33 | $2.71B |
| Q1 2026 | 34 | $2.26B |
| Q4 2025 | 31 | $1.88B |
| Q3 2025 | 32 | $2.09B |
| Q2 2025 | 32 | $1.86B |
| Q1 2025 | 29 | $1.31B |
| Q4 2024 | 25 | $1.26B |
| Q3 2024 | 23 | $615.6M |
- JPMorgan Chase & Co+1.22M (+25%)
- Ameriprise Financial+428.0K (+53%)
- Millennium Management+284.4K (+28%)
- Northern Trust+277.5K (+17%)
- Vanguard Portfolio Management LLC+217.9K (+2%)
- BlackRock−1.39M (-7%)
- Two Sigma Investments−523.9K (-23%)
- WESTWOOD HOLDINGS GROUP INC−405.1K (-12%)
- Citadel Advisors LLC−137.5K (-56%)
- Morgan Stanley−133.7K (-6%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 239 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
CDP filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Aug 7, 2026 | - | - | - |
| 10-Q | Aug 3, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 30, 2026 | - | - | - |
| 8-K | Jul 27, 2026 | - | Analysis | - |
| SC 13G | Jul 16, 2026 | - | - | |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | May 28, 2026 | - | - | |
| 8-K | May 20, 2026 | - | Analysis | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 18, 2026 | - | - | |
| 4 | May 14, 2026 | - | - | |
| 10-Q | May 6, 2026 | Mar 31, 2026 | Analysis | |
| 4 | Apr 30, 2026 | - | - | - |
| SC 13G | Apr 29, 2026 | - | - | |
| 8-K | Apr 27, 2026 | - | Analysis | - |
| 4 | Mar 4, 2026 | - | - | - |
| 4 | Mar 3, 2026 | - | - | - |
| 4 | Mar 3, 2026 | - | - | - |
| 4 | Mar 3, 2026 | - | - | - |
| 4 | Feb 24, 2026 | - | - | - |
| 10-K | Feb 20, 2026 | Dec 31, 2025 | Analysis | |
| 4 | Feb 11, 2026 | - | - |
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CDP SEC filings: frequently asked questions
Which institutions hold CDP stock?
As of June 30, 2026, the largest COPT DEFENSE PROPERTIES (CDP) holders among the 13F filers tracked by SignalX were BlackRock ($724.7 million), Vanguard Portfolio Management LLC ($439.5 million), State Street Corp ($252.1 million), JPMorgan Chase & Co ($223.0 million), Vanguard Capital Management LLC ($185.4 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was CDP's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), COPT DEFENSE PROPERTIES (CDP) reported revenue of $42.1 million (down 44.3% from FY2024) and net income of $151.7 million. Diluted EPS was $1.34. The figures come from the XBRL data in the 10-K.
What are the main risks in CDP's latest 10-K?
In the 10-K filed February 20, 2026, COPT DEFENSE PROPERTIES (CDP) flagged: Regulatory risk: potential costs and penalties from environmental laws and regulations affecting capital improvements. Geopolitical risk: 35.4% of annualized rent revenue (ARR) from U.S. Government, exposed to federal budget reductions or shutdowns. (AI summary of the Risk Factors section.)
What did CDP report in its latest 8-K?
COPT DEFENSE PROPERTIES (CDP) filed an 8-K on July 27, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Earnings release covers financial results for period ended June 30, 2026.
What are the latest CDP SEC filings?
COPT DEFENSE PROPERTIES (CDP) filed its latest 10-K annual report on February 20, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on July 27, 2026 and a Form 4 insider filing on August 7, 2026.
What is CDP's SEC CIK number?
COPT DEFENSE PROPERTIES (CDP)'s SEC Central Index Key (CIK) is 860546. EDGAR lists every CDP filing under that number.
Ask anything about CDP
The research agent reads CDP's filings, financials, insider trades and 13F holders, then answers with sources.