CDP COPT DEFENSE PROPERTIES
FY2025 10-K
COPT DEFENSE PROPERTIES (CDP) filed its fiscal year 2025 10-K annual report with the SEC on Feb 20, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
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
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
Financial SummaryXBRL
Revenue
$42M
Net Income
$152M
Net Margin
360.5%
ROE
10.0%
Total Assets
$4.7B
EPS (Diluted)
$1.34
Operating Cash Flow
$310M
Source: XBRL data from COPT DEFENSE PROPERTIES FY2025 10-K filing on SEC EDGAR. All figures in USD.
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