Business Wire·Oct 30, 2025, 4:16 PM ET

COPT Defense Reports Third Quarter 2025 Results

COPT Defense Properties reported Q3 2025 EPS of $0.37 & FFO per share of $0.69, representing 6.2% year-over-year growth.
The company increased its 2025 FFO per share guidance midpoint by 3 cents to $2.70, implying 5.1% annual growth.
Same property cash NOI increased 4.6% in Q3 2025 & year-to-date, leading to a 75 basis point increase in 2025 NOI guidance to 4.0%.
The total portfolio occupancy reached 93.9% with a leased rate of 95.7%, while the Defense/IT portfolio achieved 95.4% occupancy & 97.0% leased levels.
Management raised the 2025 same property occupancy guidance midpoint by 20 basis points to 94.2% & the vacancy leasing target to 500,000 SF.
Capital deployment included $72 million committed over five weeks to a build-to-suit project & a building acquisition, with $124 million invested year-to-date.
The company issued $400 million in senior notes due 2030 & amended its credit facility to increase the revolver limit to $800 million & extend maturity to 2029.
Management anticipates compound annual FFO per share growth exceeding 4% between 2023 & 2026.