COPT Defense Properties

COPT Defense Properties

Formerly	Corporate Office Properties Trust
Company type	Public company
Traded as	NYSE: CDP S&P 400 component
Industry	Real estate investment trust
Founded	1988 (1988)
Founder	Clay W. Hamlin III
Headquarters	Columbia, Maryland, U.S.
Key people	Stephen E. Budorick (CEO & President) Thomas F. Brady (Chairman) Anthony Mifsud (CFO)
Products	Office buildings
Revenue	US$0.641 billion (2019)
Net income	US$0.191 billion (2019)
Total assets	US$3.854 billion (2019)
Total equity	US$1.719 billion (2019)
Number of employees	394 (2019)
Website	www.copt.com
Footnotes / references

COPT Defense Properties, an S&P MidCap 400 Company, is a fully integrated and self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government defense installations and missions, referred to as its Defense/IT Portfolio.

The Company’s tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.

History

COPT Defense Properties was initially founded in Minnesota in 1988 as Royale Investments, Inc., eventually developing into an externally advised REIT.

In October 1997, Royale Investments acquired the Mid Atlantic operations of The Shidler Group.

The combined entity, now a self-administered REIT, adopted the name Corporate Office Properties Trust.

Corporate Office Properties Trust, became a public company on April 23, 1998, by listing its shares on the NYSE under the ticker symbol OFC.

Since 2011, Company deeply concentrated its real estate portfolio at locations proximate to, or sometimes containing, priority National Defense missions, and mission critical operations.

In September 2023, the Company changed its name from Corporate Office Properties Trust to COPT Defense Properties, and changed its NYSE ticker symbol to CDP, to better describe its investment strategy’s focus on locations serving U.S. priority defense activities.  

Tenants

The company's largest tenants are as follows:

Rank	Tenant	% of total 2019 revenue
1	General Services Administration	34.6%
2	Vadata (Amazon.com)	7.9%
3	General Dynamics	4.9%
4	Boeing	3.2%
5	CACI	2.5%
6	Northrop Grumman	2.2%
7	CareFirst BlueCross BlueShield	2.1%
8	Booz Allen Hamilton	2.1%
9	Wells Fargo	1.3%
10	AT&T Corporation	1.3%

External links

• Official website
• Business data for COPT Defense Properties:
  • Google
  • SEC filings
  • Yahoo!