COPT DEFENSE PROPERTIES · REIT (real estate trust)

CDP

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The short version

A profitable company with steady sales.

Going well

Raised its dividend (3.6% yield)
Profitable, keeps 21% of sales as profit
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 0.5% to their holdings in the quarter ending June 2026 (151 bought, 137 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$34.11+0.5% that day

Company value: $3.9B; Share price times all shares
Price vs profit (P/E): 23.7x; You pay about $24 for each $1 of yearly profit
Price vs sales: 4.9x; Company value is 4.9 times a year of sales
Dividend yield: 3.6%; Yearly dividend as a share of today's price
Cash vs value: 1%; Cash as a share of company value
Debt vs value: 72%; Debt as a share of company value

From CDP's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$197.4M+3.9% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $784.2M, up 4.5% from the 12 months before. Over 5 years, sales grew about 5.6% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of CDP. Starting points are the company's recent numbers.

Sales growth+4% a yearRecently: +4.5% a yearProfit margin22%Last 12 months: 21.9%P/E at the end24xToday: 23.7x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$954M

Profit in 5 years$210M

Price these guesses point to$44.42+30% vs $34.11 todayAbout +5.4% a year, before dividends

What today's price needs: with a 22% margin and a 24x P/E, sales could shrink about 1.4% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.10.6%
MissDebt under half of equityNot relying on borrowed money.1.83x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.20.9%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$309.9M
PassShare count not growingNot diluting owners. Falling means buybacks.+0.6% in 3 years

Revenue: $763.9M; +1.4% vs prior year
5-year growth: +5.6%/yr; revenue, per year
Total debt: $2.8B; 1.83x equity
Free cash flow: $309.9M; 40.6% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.