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COPT Defense Properties (CDP)
NYSE:CDP
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.33Last Year’s EPS
0.29Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 06, 2025
|% Change Since: -10.09%
|Next Earnings Date:Apr 24, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance in 2024 with significant achievements in tenant retention and leasing activities, alongside strategic investments. However, concerns about potential delays in defense appropriations and increased financing costs create some challenges. Overall, the highlights outweigh the lowlights.Company Guidance
During COPT Defense Properties' fourth quarter and full year 2024 results conference call, several key metrics and guidance for 2025 were discussed. The company reported an adjusted FFO per share of $2.06 for 2024, exceeding initial guidance by six cents and marking a 6.2% increase over the previous year. This growth was driven by a 9.1% increase in same property cash NOI and a tenant retention rate of 86%, the highest in over two decades. The company executed 500,000 square feet of vacancy leasing, representing 45% of the year's initial vacant space. For 2025, COPT Defense Properties anticipates FFO per share to reach $2.66 at the midpoint, reflecting a 3.5% growth over 2024, despite expected increases in financing costs. The company plans to commit $212 million to new investments and has set a vacancy leasing target of 400,000 square feet. Additionally, a retention range of 75% to 85% is projected, with a focus on maintaining strong tenant relationships amidst a supportive defense spending environment under the current administration.Strong Financial Performance
FFO per share was $2.06, exceeding the midpoint of initial guidance by six cents, representing a 6.2% increase over 2023. Same property cash NOI increased by 9.1% year-over-year, the highest increase reported.
Record Tenant Retention
Achieved tenant retention of 86%, the highest annual level in over twenty years.
Successful Leasing Activities
Executed 500,000 square feet of vacancy leasing, exceeding the initial target by 25%, and achieved 45% vacancy leasing of total available inventory.
Strategic Investments
Committed $212 million to new investments, including first building acquisitions since 2015, in San Antonio and Columbia Gateway.
Growth Forecast for 2025
Establishing FFO per share guidance of $2.66 at the midpoint, implying a 3.5% growth over 2024.
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CDP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CDP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 06, 2025 | $29.73 | $29.50 | -0.77% |
| Oct 28, 2024 | $32.25 | $32.19 | -0.19% |
| Jul 29, 2024 | $27.73 | $28.52 | +2.85% |
| Apr 25, 2024 | $22.14 | $22.90 | +3.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does COPT Defense Properties (CDP) report earnings?
COPT Defense Properties (CDP) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is COPT Defense Properties (CDP) earnings time?
COPT Defense Properties (CDP) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CDP EPS forecast?
CDP EPS forecast for the fiscal quarter 2025 (Q1) is 0.33.
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