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CDP on NYSE

Corporate Office Properties Trust

Real estate investment trust

COPT Defense Properties is a real estate investment trust that invests in office buildings, mostly in the suburbs of the Washington, D.C. metropolitan area. It primarily leases to the U.S. government or companies in the arms industry. As of December 31, 2024, the company owned 164 office buildings comprising 16.5 million square feet and 31 single-tenant data centers comprising 5.9 million square feet.3 Its shares trade on NYSE under the symbol CDP.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

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  • TickerCDP on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersColumbia1
  • Websitecopt.com
  • Incorporated inMD5
  • Business address6711 Columbia Gateway Drive, Suite 300, Columbia, Md 210465
  • Filer categoryLarge accelerated filer5
  • Legal formStock Corporation4
  • LEIYY1J47X6LF9TYY8JY4204
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O DAVID L. FINCH, 21046 Columbia, United States4
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D049001484

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Corporate Office Properties Trust image from its website
Image: copt.com7

COPT Defense Properties is a real estate investment trust that invests in office buildings, mostly in the suburbs of the Washington, D.C. metropolitan area. It primarily leases to the U.S. government or companies in the arms industry. As of December 31, 2024, the company owned 164 office buildings comprising 16.5 million square feet and 31 single-tenant data centers comprising 5.9 million square feet.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

379.2%Net margin8
-44.3%Revenue growth, 20258
10.5%Return on equity8
1.83×Debt to equity8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Defense/IT Portfolio brought in 90% of the revenue Corporate Office Properties Trust broke down this way in fiscal 2025.

  1. Defense/IT Portfolio$646.9M890%up 6% from 2024
  2. Other Operating$74.9M810%up 11% from 2024
Business segments by year
Business segments202320242025
Defense/IT Portfolio$555.6M$610.3M$646.9M
Other Operating$69.2M$67.4M$74.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin23¢$47.8M
  • Income tax0¢$947.0K
  • Profit77¢$159.5M

Out of $42.1M in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid44¢$136.6M
  • Kept or used elsewhere56¢$173.3M

Out of $309.9M of cash from operations.8

Financial statements

Revenue91011128$42.1M in 2025−63% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $113.8M$113.8M20192020: $70.6M$70.6M2020−38%2021: $107.9M$107.9M2021+53%2022: $154.6M$154.6M2022+43%2023: $60.2M$60.2M2023−61%2024: $75.5M$75.5M2024+26%2025: $42.1M$42.1M2025−44%
Net income1311128$159.5M in 2025−17% since 2019
-$100.0M0$100.0M$200.0M2019: $191.7M$191.7M20192020: $97.4M$97.4M2020−49%2021: $81.6M$81.6M2021−16%2022: $178.8M$178.8M2022+119%2023: -$74.3M-$74.3M20232024: $143.9M$143.9M20242025: $159.5M$159.5M2025+11%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Lease revenue$714.2M$671.4M$619.8M
Other property revenue$7.7M$6.4M$5.0M
Construction contract and other service revenues$42.1M$75.5M$60.2M
Total revenues$763.9M$753.3M$685.0M
Property operating expenses$283.9M$266.0M$247.4M
Depreciation and amortization associated with real estate operations$161.8M$153.6M$148.9M
Construction contract and other service expenses$40.0M$73.3M$57.4M
General, administrative, leasing and other expenses$47.8M$47.0M$42.8M
Impairment losses$0$0$252.8M
Total operating expenses$533.6M$539.9M$749.3M
Interest expense-$86.7M-$82.2M-$71.1M
Interest and other income, net$10.7M$12.7M$12.6M
Gain on sales of real estate$3.4M$0$49.4M
Loss on early extinguishment of debt-$66.0K$0$0
Income (loss) before equity in income (loss) of unconsolidated entities and income taxes$157.7M$143.8M-$73.5M
Equity in income (loss) of unconsolidated entities$2.8M$397.0K-$261.0K
Income tax expense-$947.0K-$288.0K-$588.0K
Net income (loss)$159.5M$143.9M-$74.3M
Common units in CDPLP-$3.2M-$2.7M$1.3M
Other consolidated entities-$4.0M-$2.3M-$428.0K
Net income (loss) attributable to common shareholders$152.3M$138.9M-$73.5M
Net income (loss) attributable to common shareholders - basic (in dollars per share)$1.35$1.23-$0.67
Net income (loss) attributable to common shareholders - diluted (in dollars per share)$1.34$1.23-$0.67

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Corporate structure

Corporate Office Properties Trust sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Corporate Office Properties Trust

  • JPMorgan Chase Filed SCHEDULE 13G on Corporate Office Properties Trust, latest Jul 16, 2026
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on Corporate Office Properties Trust, latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Corporate Office Properties Trust, latest Mar 26, 2026 (4 filings since Feb 9, 2022)
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Corporate Office Properties Trust, latest Feb 5, 2026
  • AllianceBernstein Filed SCHEDULE 13G/A on Corporate Office Properties Trust, latest Nov 14, 2025 (2 filings since Feb 5, 2025)
  • BlackRock Filed SCHEDULE 13G/A on Corporate Office Properties Trust, latest Jul 18, 2025 (6 filings since Jan 25, 2022)
  • BARROW HANLEY MEWHINNEY & STRAUSS LLC Filed SC 13G on Corporate Office Properties Trust, latest Feb 13, 2024 (3 filings since Feb 11, 2022)
  • FMR LLC Filed SC 13G/A on Corporate Office Properties Trust, latest Feb 9, 2024 (3 filings since Feb 9, 2022)
  • State Street Corporation Filed SC 13G/A on Corporate Office Properties Trust, latest Jan 29, 2024 (3 filings since Feb 10, 2022)
  • EARNEST PARTNERS LLC Filed SC 13G/A on Corporate Office Properties Trust, latest Feb 9, 2022 (2 filings since Feb 9, 2022)
  • Corporate Office Properties Trust Columbia, Maryland, United States
    • REDSTONE GATEWAY 4000, LLC Subsidiary · Columbia, Maryland, United States
    • REDSTONE GATEWAY 7200, LLC Subsidiary · Columbia, Maryland, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Corporate Office Properties Trust reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$5.4M8 Dec 31, 2025$2.5M8 Dec 31, 2024+115.7%
Operating-lease assets (leased space)$50.4M8 Dec 31, 2025$55.8M8 Dec 31, 2024−9.6%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$3.8B8 Dec 31, 2025$3.6B8 Dec 31, 2024+4.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$275.0M8 Dec 31, 2025$38.3M8 Dec 31, 2024+618.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$19.8M8 Dec 31, 2025$10.7M8 Dec 31, 2024+84.8%
Finite-lived intangibles, gross$204.3M8 Dec 31, 2025$194.8M8 Dec 31, 2024+4.9%
Accumulated amortization$184.5M8 Dec 31, 2025$184.1M8 Dec 31, 2024+0.2%

Properties, in its own words

The following table provides certain information about our operating property segments as of December 31, 2025 (dollars and square feet in thousands, except per square foot amounts):

Segment · Number of Properties · Operational Square Feet · Occupancy (1) · ARR (2) · ARR per Occupied Square Foot (2)

The rest of Item 2

National Business Park (Annapolis Junction, MD) · 34 · 4,288 · 96.8 · 182,792 · 44.03

Howard County, MD · 36 · 3,064 · 89.2 · 82,553 · 30.13

Other · 25 · 1,883 · 93.3 · 58,654 · 33.24

Fort Meade/BW Corridor Subtotal / Average · 95 · 9,235 · 93.6 · 323,999 · 37.44

Redstone Arsenal · 25 · 2,525 · 96.1 · 64,160 · 26.31

NoVA Defense/IT · 17 · 2,643 · 93.5 · 100,065 · 40.50

Lackland Air Force Base · 9 · 1,143 · 100.0 · 73,213 · 59.71

Navy Support · 22 · 1,271 · 86.9 · 34,583 · 31.32

Data Center Shells

Consolidated Properties · 9 · 2,047 · 100.0 · 52,952 · 25.87

Unconsolidated Joint Venture Properties · 24 · 4,295 · 100.0 · 8,286 · 19.29

Defense/IT Portfolio Subtotal / Average · 201 · 23,159 · 95.5 · 657,258 · 35.67

Other · 6 · 1,988 · 76.6 · 70,827 · 41.78

Total Operating Properties / Average · 207 · 25,147 · 94.0 · 728,085 · 36.14

Total Consolidated Operating Properties · 719,799

(1)This percentage is based upon all rentable square feet under lease terms that were in effect as of December 31, 2025.

(2)Refer to definition provided in Item 7 of this Annual Report on Form 10-K. Our computation of ARR excludes the effect of lease incentives; the ARR per occupied square foot, including the effect of lease incentives, was $35.43 for our total operating properties and $35.06 for our Defense/IT Portfolio.

The following table provides certain information about properties that were under, or contractually committed for, development as of December 31, 2025 (dollars and square feet in thousands):

Property and Location · Estimated Rentable Square Feet Upon Completion · Percentage Leased · Calendar Quarter Anticipated to be Operational · Costs Incurred to Date (1) · Estimated Costs to Complete (1)

400 National Business Parkway Annapolis Junction, MD · 148 · 0% · 2Q 26 · 49,799 · 18,456

4400 River Road College Park, MD · 110 · 100% · 3Q 27 · 4,867 · 61,399

Fort Meade/BW Corridor Subtotal / Average · 258 · 43% · 54,666 · 79,855

Redstone Arsenal

7700 Advanced Gateway Huntsville, AL · 101 · 100% · 1Q 27 · 2,546 · 24,718

8500 Advanced Gateway Huntsville, AL · 155 · 20% · 2Q 27 · 28,654 · 23,663

Redstone Arsenal Subtotal / Average · 256 · 52% · 31,200 · 48,381

Lackland Air Force Base

Project EL 2 San Antonio, TX · 132 · 100% · 4Q 27 · 813 · 86,787

Total Under Development · 646 · 58% · 86,679 · 215,023

(1)Includes land, development, leasing costs and allocated portion of structured parking and other shared infrastructure, if applicable.

The following table provides certain information about land that we owned or controlled as of December 31, 2025, including properties under ground lease to us (square feet in thousands):

Segment · Acres · Estimated Developable Square Feet

Defense/IT Portfolio land owned/controlled for future development

National Business Park (Annapolis Junction, MD) · 144 · 1,483

Howard County, MD · 19 · 290

Other · 123 · 1,228

Total Fort Meade/BW Corridor · 286 · 3,001

Redstone Arsenal (1) · 280 · 3,099

NoVA Defense/IT · 29 · 1,171

Navy Support · 38 · 64

Data Center Shells · 365 · 3,300

Total Defense/IT Portfolio land owned/controlled for future development · 998 · 10,635

Other land owned/controlled · 47 · 1,478

Total Land Owned/Controlled · 1,045 · 12,113

(1)This land is owned by the USG and is controlled by us under a long-term master lease agreement to a consolidated joint venture. As this land is developed in the future, the joint venture will execute site-specific leases under the master lease agreement. Lease payments will commence under the site-specific leases as cash rents under tenant leases commence at the respective properties.

Lease Expirations

The following table provides a summary schedule of lease expirations for leases in place at our operating properties as of December 31, 2025 based on the non-cancelable term of tenant leases determined in accordance with generally accepted accounting principles in the United States of America (“GAAP”) (dollars and square feet in thousands, except per square foot amounts):

Year of Lease Expiration · Square Footage of Leases Expiring · ARR of Expiring Leases (1) · Percentage of Total ARR Expiring (1) · Total ARR of Expiring Leases Per Occupied Square Foot (1)

2026 · 2,906 · 140,301 · 19.3 · 48.24

2027 · 2,060 · 63,131 · 8.7 · 36.40

2028 · 3,426 · 119,880 · 16.5 · 38.06

2029 · 3,622 · 91,563 · 12.6 · 33.51

2030 · 1,943 · 50,461 · 6.9 · 32.40

2031 · 1,824 · 33,842 · 4.7 · 32.93

2032 · 462 · 12,575 · 1.7 · 27.23

2033 · 775 · 31,574 · 4.3 · 40.74

2034 · 1,677 · 41,651 · 5.7 · 30.91

2035 · 1,482 · 50,830 · 7.0 · 34.29

2036 · 1,248 · 17,213 · 2.4 · 29.95

2037 · 133 · 10,704 · 1.5 · 79.68

2038 · 651 · 19,893 · 2.7 · 30.53

2039 · 483 · 10,980 · 1.5 · 22.73

2040 · 422 · 11,248 · 1.5 · 26.64

2041 · 39 · 5,924 · 0.8 · 22.78

2042 · 277 · 9,651 · 1.3 · 34.79

2043 · 193 · 4,906 · 0.7 · 25.42

2045 · 16 · 1,231 · 0.2 · 75.00

2046 · 10 · 259 · — · 25.25

2063 (2) · — · 139 · — · —

2072 (2) · — · 129 · — · —

Total · 23,649 · 728,085 · 100.0 · 36.14

(1)Refer to definition provided in Item 7 of this Annual Report on Form 10-K.

(2)Includes only ground leases.

With regard to the leases reported above as expiring in 2026, we believe that the weighted average ARR per occupied square foot for such leases as of December 31, 2025, on average, was approximately 1.0% to 3.0% lower than estimated current market rents for the related space, with specific results varying by market.

Item 2 of the 10-K filed Feb 20, 2026.17

The story

The company was founded in 1988 by Clay W. Hamlin III as Royale Investments, Inc. In 1991, the company became a public company via an initial public offering. In 1997, the company merged with Shidler Group, founded by Jay H. Shidler, and changed its name to Corporate Office Properties Trust. In 1998, the company acquired 16 buildings from Constellation Energy in exchange for a 41.5% stake in the company. Constellation sold its stake in the company in 2002. In 2005, Randall M. Griffin became chief executive officer of the company. In September 2023, the Company changed its name from Corporate Office Properties Trust to COPT Defense Properties.

From Wikipedia’s article on COPT Defense Properties, shared under CC BY-SA 4.0.6

Leadership

Who has led Corporate Office Properties Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Randall M. Griffin2010–2012
  2. Stephen E. Budorick2017–now

President

  1. Wayne Lingafelter2009–2016
  2. Randall M. Griffin2010
  3. Roger A. Waesche Jr.2011–2016
  4. Stephen E. Budorick2017–now

Chief financial officer

  1. Roger A. Waesche Jr.2006
  2. Stephen Edward Riffe2006–2014
  3. Anthony Mifsud2015–now

Chief operating officer

  1. Roger A. Waesche Jr.2006–2011
  2. Stephen E. Budorick2011–2022
  3. Paul R. Adkins2016–2020
  4. Todd W. Hartman2020–2023
  5. Britt A. Snider2023–now
2010201520202025
Board members and other officers (22)

Products and brands

  • office

Listed on Wikidata.1

Former names

  • CORPORATE OFFICE PROPERTIES TRUST INCFeb 5, 1998 to Jan 22, 19985
  • ROYALE INVESTMENTS INCAug 14, 1996 to Nov 24, 19975

Timeline

  1. Jul 27, 20268-K Results of operations52
  2. May 20, 20268-K Shareholder vote53
  3. Apr 27, 20268-K Results of operations54
  4. Feb 5, 20268-K Results of operations55
  5. Feb 4, 20268-K Executive or director change56
  6. Oct 30, 20258-K Results of operations57
  7. Oct 10, 20258-K Entered a material agreement; New debt or obligation58
  8. Oct 2, 20258-K Entered a material agreement59
  9. Sep 29, 20258-K Other events60
  10. Sep 23, 20258-K Other events61
  11. Jul 28, 20258-K Results of operations62
  12. May 23, 20258-K Shareholder vote63
  13. Feb 9, 2017New chief executive Stephen E. Budorick becomes CEO18
  14. Mar 29, 2010New chief executive Randall M. Griffin becomes CEO19
  15. Jan 22, 1998Founded Corporate Office Properties Trust is founded4

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.69 a share, on Oct 30, 2025.64

When it reported results

  1. Jul 27, 2026Reported quarterly or annual results52
  2. Apr 27, 2026Reported quarterly or annual results54
  3. Feb 5, 2026Reported quarterly or annual results55
  4. Oct 30, 2025Reported quarterly or annual results57
  5. Jul 28, 2025Reported quarterly or annual results62
  6. Apr 28, 2025Reported quarterly or annual results65
  7. Feb 6, 2025Reported quarterly or annual results66
  8. Oct 28, 2024Reported quarterly or annual results67

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

273 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 42 major events, 149 insider forms, 26 large holders, 36 other. The latest 20:

  1. Aug 7, 20264 EDGAR
  2. Aug 3, 202610-Q EDGAR
  3. Jul 30, 20264 EDGAR
  4. Jul 27, 20268-K EDGAR
  5. Jul 16, 2026SCHEDULE 13G EDGAR
  6. Jun 26, 20264 EDGAR
  7. Jun 2, 20264 EDGAR
  8. May 28, 20264 EDGAR
  9. May 20, 20268-K EDGAR
  10. May 18, 20264 EDGAR
  11. May 18, 20264 EDGAR
  12. May 18, 20264 EDGAR
  13. May 18, 20264 EDGAR
  14. May 18, 20264 EDGAR
  15. May 18, 20264 EDGAR
  16. May 18, 20264 EDGAR
  17. May 14, 20264 EDGAR
  18. May 6, 202610-Q EDGAR
  19. Apr 30, 20264 EDGAR
  20. Apr 29, 2026SCHEDULE 13G EDGAR

The 273 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

21 open-market trades by officers, directors and large owners since October 2021: 4 buys and 17 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 29, 2026PICKETT C TAYLORDirectorSale31,798$32.25$1.0MForm 4
May 26, 2026DENTON ROBERT LDirectorSale3,922$32.38$127.0KForm 4
Feb 23, 2026HAWKINS PHILIP LDirectorSale5,536$32.71$181.1KForm 4
Sep 17, 2025Trimberger Lisa GDirectorSale7,896$30.64$242.0KForm 4
May 15, 2025DENTON ROBERT LDirectorSale4,398$26.71$117.5KForm 4
Feb 26, 2025Snider Britt A.EVP & COOBuy1,000$26.93$26.9KForm 4
Dec 2, 2024Myers Matthew TSVP-CAO & CONTROLLERSale500$32.32$16.2KForm 4
Nov 7, 2024BUDORICK STEPHEN EPRESIDENT/CEOSale8,854$32.54$288.1KForm 4
Nov 6, 2024BUDORICK STEPHEN EPRESIDENT/CEOSale9,000$32.64$293.8KForm 4
Nov 5, 2024BUDORICK STEPHEN EPRESIDENT/CEOSale9,000$32.41$291.7KForm 4
Nov 4, 2024BUDORICK STEPHEN EPRESIDENT/CEOSale9,000$32.38$291.4KForm 4
Sep 10, 2024Snider Britt A.EVP & COOBuy1,000$29.41$29.4KForm 4
May 14, 2024DENTON ROBERT LDirectorSale4,523$24.58$111.2KForm 4
Dec 20, 2023Trimberger Lisa GDirectorSale7,357$25.48$187.5KForm 4
Dec 19, 2023Snider Britt A.EVP & COOBuy1,000$25.11$25.1KForm 4
Dec 13, 2023KESLER STEVEN DDirectorSale1,719$25.44$43.7KForm 4
May 17, 2023DENTON ROBERT LDirectorSale3,941$22.95$90.4KForm 4
May 18, 2022DENTON ROBERT LDirectorSale3,416$26.74$91.3KForm 4
Mar 29, 2022Thor Greg JSVP--CAO & CONTROLLERSale2,000$29.35$58.7KForm 4
Mar 28, 2022Thor Greg JSVP--CAO & CONTROLLERSale2,333$28.79$67.2KForm 4

All 21 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Stephen E. Budorick$799.4K$7.6M78
2025Anthony Mifsud$537.0K$3.0M78
2025Britt A. Snider$453.8K$2.6M78
2024President + CEO$784.6K$7.6M78
2024EVP + CFO$465.6K$2.7M78
2024EVP + COO$425.0K$2.5M78
2023President + CEO$775.0K$6.2M78
2023EVP + CFO$456.0K$2.4M78
2023EVP + COO$18.0K$641.1K78

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.19,915,482$724.7M0.0%−1,385,296
Vanguard Portfolio Management LLC12,076,995$439.5M0.0%+217,928
Alliancebernstein L.P.8,880,283$271.7M0.1%+41,315
State Street Corp6,871,138$252.1M0.0%+34,561
Jpmorgan Chase & Co6,080,134$223.0M0.0%+1,223,994
Vanguard Capital Management LLC5,095,897$185.4M0.0%+42,012
Earnest Partners LLC4,420,946$160.9M0.6%−102,795
Geode Capital Management, LLC3,465,042$126.1M0.0%+198,766
Channing Capital Management, LLC2,891,994$105.2M2.4%−89,166
Westwood Holdings Group Inc2,840,694$103.4M0.8%−405,052
Charles Schwab Investment Management Inc2,368,640$86.2M0.0%+121,777
Bank Of America Corp /de/2,309,954$84.1M0.0%−11,385
Sei Investments Co2,204,679$80.2M0.1%−87,808
Morgan Stanley2,089,769$76.0M0.0%−133,731
GRS Advisors, LLC1,930,934$70.3M5.9%+280,879
Northern Trust Corp1,883,872$68.6M0.0%+277,512
Principal Financial Group Inc1,751,745$63.7M0.0%−1,914
Two Sigma Investments, LP1,720,245$62.6M0.0%−523,935
Goldman Sachs Group Inc1,676,030$61.0M0.0%+215,884
Dimensional Fund Advisors LP1,669,150$60.7M0.0%−13,146
Aqr Capital Management LLC1,575,072$57.3M0.0%+163,872
Bank of New York Mellon Corp1,312,183$47.8M0.0%−5,208
Millennium Management LLC1,296,926$47.2M0.0%+284,362
Ameriprise Financial Inc1,241,459$45.2M0.0%+428,000
Fort Washington Investment Advisors Inc /oh/982,340$35.7M0.2%+15,490

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 16, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+5.0%Report
Jun 11, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−11.2%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Corporate Office Properties Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCOPT DEFENSE PROPERTIES2
  • CIK0000860546
  • Employer ID (EIN)23-294721717
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inMaryland17
  • Fiscal year endsDecember 312
  • Industry code (SIC)6798 Real Estate Investment Trusts2
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
  • Business address6711 Columbia Gateway Drive, Suite 300, Columbia, MD 210462
  • Phone44328554002
  • Shares outstanding113,410,458 as of Jul 20, 202615
  • Public float$2.6B as of Jun 30, 202517
  • AuditorPricewaterhouseCoopers LLP, Baltimore, Maryland PCAOB ID 238; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceAug 14, 19962
  • Filings1,816 in all: 4 (800), 8-K (336), SC 13G/A (103), 10-Q (87), 424B5 (56), SC 13G (51), 4/A (30), DEF 14A (30)2
    All 59 form types

    10-K (28), 3 (25), 424B7 (23), DEFA14A (18), S-3ASR (18), 8-K/A (16), UPLOAD (16), ARS (14), 11-K (13), 424B3 (13), CORRESP (12), FWP (12), 5 (9), S-8 (9), 8-A12B (8), S-3 (7), 25-NSE (6), S-3/A (6), 10QSB (4), 144 (4), 424B2 (4), CERTNYS (4), PRE 14A (4), S-11/A (4), SC 13D (4), SC 13D/A (4), SCHEDULE 13G (4), S-8 POS (3), SC TO-I/A (3), SCHEDULE 13G/A (3), POS AM (2), S-3MEF (2), S-4 (2), SC TO-I (2), 10-K405 (1), 10-Q/A (1), 10KSB40 (1), 10KSB40/A (1), 25 (1), 3/A (1), 424B1 (1), 424B4 (1), DEFM14A (1), DEFR14A (1), DEFS14A (1), EFFECT (1), NT 11-K (1), PREM14A (1), REGDEX (1), S-11 (1), S-4/A (1)

  • Latest filingsAnnual report (10-K) Feb 20, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Mar 30, 2026
    Latest 8-K (8-K) Jul 27, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares of beneficial interest, $0.01 par valueCDPNew York Stock Exchange

From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Corporate Office Properties Trust names in Item 1A of its 10-K filed Feb 20, 2026: 39 risks under these headings, as written.17

  • Risks Associated with the Real Estate Industry and Our Properties
  • Our performance and asset value are subject to risks associated with our properties and with the real estate industry.
  • Our business may be affected by adverse economic conditions.
  • We may suffer adverse consequences as a result of our reliance on rental revenues for our income.
  • We rely on the ability of our tenants to pay rent and would be harmed by their inability to do so.
  • We may be adversely affected by developments concerning our major tenants, including the USG and its contractors, or the defense installations or missions from which demand for our Defense/IT Portfolio’s properties is driven.
  • Our future ability to fuel growth through data center shell development may be adversely affected should we suffer a loss of future development opportunities with our data center shell customer or are unable to locate suitable developable land.
  • We may suffer economic harm in the event of a decline in the real estate market or general economic conditions in the Mid-Atlantic region, particularly in the Greater Washington, DC/Baltimore region, or in particular business parks.
  • We would suffer economic harm if we were unable to renew our leases on favorable terms.
  • We may be adversely affected by trends in the office real estate industry.
  • We may encounter a significant decline in the value of our real estate.
  • We may not be able to compete successfully with other entities that operate in our industry.
The other 28 risks
  • Real estate investments are illiquid, and we may not be able to dispose of properties on a timely basis when we determine it is appropriate to do so.
  • We may be unable to successfully execute our plans to develop additional properties.
  • We may suffer adverse effects from acquisitions of commercial real estate properties.
  • We may be subject to possible environmental liabilities.
  • We would incur losses if third parties to whom we make loans fail to service or repay such loans.
  • We may be adversely affected by the impact of climate-related risks.
  • We may be adversely affected by legislation and regulatory changes relating to combating climate change.
  • We may be subject to other possible liabilities that would adversely affect our financial position and cash flows.
  • Attacks by terrorists or foreign nations or incidents related to social unrest may adversely affect the value of our properties, our financial position and cash flows.
  • We may be subject to increased costs of insurance and limitations on coverage.
  • We may suffer economic harm as a result of the actions of our partners in real estate joint ventures and other investments.
  • Our business could be adversely affected by a negative audit by the USG.
  • Risks Associated with Financing and Other Capital-Related Matters
  • We are dependent on external sources of capital for growth and other business purposes.
  • We may suffer adverse effects as a result of the indebtedness that we carry and the terms and covenants that relate to this debt.
  • A downgrade in our credit ratings would materially adversely affect our business and financial condition.
  • We may issue additional common or preferred equity that dilutes our shareholders’ interests.
  • A number of factors could cause our security prices to decline.
  • We may be unable to continue to make distributions to our shareholders at expected levels.
  • We may experience significant losses and harm to our financial condition if financial institutions holding our cash and cash equivalents file for bankruptcy protection or otherwise failed.
  • Our business could be adversely affected by security breaches through cyber attacks, cyber intrusions or other factors, and other significant disruptions of our IT networks and related systems.
  • The use of technology based on artificial intelligence and machine learning presents risks and challenges that may adversely affect our business and results of operations.
  • We may be adversely affected by environmental, social and governance matters.
  • We may suffer adverse effects from epidemics or pandemics.
  • Our business could be adversely impacted if we are unable to attract and retain highly-qualified personnel.
  • We have certain provisions or statutes that may serve to delay or prevent a transaction or a change in control that would be advantageous to our shareholders from occurring.
  • COPT Defense’s failure to qualify as a REIT would have adverse tax consequences, which would substantially reduce funds available to make distributions to our shareholders.
  • We may be adversely impacted by changes in tax laws.
  • Our tenants and contractual counterparties could be designated “Prohibited Persons” by the Office of Foreign Assets Control.

Legal proceedings

(a) We are not currently involved in any material litigation nor, to our knowledge, is any material litigation currently threatened against us (other than routine litigation arising in the ordinary course of business, substantially all of which is expected to be covered by liability insurance).

(b) None.

The opening of Item 3, Legal Proceedings.17

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