Earnings Releases·Oct 29, 2026, 4:25 PM ET

COPT Defense Properties — Q3 2026 Earnings Summary

Net income and Adjusted EBITDA for the nine months ended September 30, 2026, rose to $138.492 million and $329.902 million respectively, up from $120.138 million and $307.616 million in the prior year period.
Same Property NOI and Cash NOI increased year-over-year for both the three and nine-month periods, with nine-month Same Property Cash NOI reaching $328.775 million compared to $312.175 million in 2025.
Diluted FFO per share grew to $2.11 for the nine months ended September 30, 2026, from $2.02 in 2025, while the dividend per share increased to $0.96 from $0.915 over the same timeframe.
Total portfolio occupancy remained stable at 94.0% as of September 30, 2026, with the Defense/IT Portfolio at 96.2% leased, while total assets and debt rose to $4.573 billion and $2.580 billion respectively.
The company reported a $14.697 million gain on sales of real estate for the nine months ended September 30, 2026, and reduced replacement capital expenditures to $67.319 million from $72.365 million in the prior year period.