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Ken GriffinReduced
Citadel Advisors · Q2 2026
$3.92M
107.64K shares · 0.0% of portfolio
Copt Defense Properties
Copt Defense Properties (CDP) is listed on NYSE and classified in REIT - Office, part of the Real Estate sector. It is headquartered in Columbia, United States and has 430 employees. The company is worth $3.92B and trades at 23.0x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $763.92M in fiscal 2025, up 1.4% from the year before. Net income was $159.53M. The share price is 13.0% below its 52-week high of $38.90. It pays a dividend yielding 3.78%. 5 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $62.6M. In that quarter, 3 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +29.7% over 5Y.
today you would have $1,523.30▲ +52.3%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 18 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $27.80 | $30.95 | $25.63 | $25.94 | $27.97 | $26.08 | $29.38 | $21.03 | $29.20 | $31.22 | $21.83 | $28.37 | $23.69 | $24.98 | $21.26 | $34.95 | $36.63 | $30.70 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 9.0% a year plus a 3.8% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 30.2 across this company’s own years on record.
Cash flow growing 9.0% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 3.2% a year against a 7.9% required return, from the stock’s beta.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| JOEST JOE Co | $69.45 | 32.2x | 5.2x | 0.92% | 16.25% | $3.95B |
| MRPMillrose Properties, Inc. | $23.97 | 8.4x | 0.7x | 13.18% | 8.12% | $3.98B |
| SLGSl Green Realty Corp | $49.19 | — | 1.0x | 5.02% | -3.57% | $3.77B |
| COLDAmericold Realty Trust | $14.22 |
| P/E | 30.2x | 20.7x | 25.2x | — | 17.0x | 41.1x | 30.0x | 17.2x | 30.5x | 52.1x | 208.1x | 12.5x | 113.5x | 28.5x | — | — | 81.3x | 52.3x | 40.4x |
| P/S | 4.2x | 4.1x | 4.6x | 4.2x | 3.9x | 4.7x | 5.0x | 5.4x | 4.0x | 4.8x | 5.4x | 3.3x | 4.5x | 4.0x | 4.0x | 3.1x | 4.8x | 2.9x | 2.7x |
| P/B | 1.9x | 2.1x | 2.3x | 1.9x | 1.7x | 1.9x | 1.8x | 2.0x | 1.5x | 2.1x | 2.0x | 1.3x | 1.8x | 1.5x | 1.5x | 1.4x | 1.9x | 2.1x | 1.5x |
| EPS | $1.34 | $1.23 | -$0.67 | $1.53 | $0.68 | $0.87 | $1.71 | $0.69 | $0.56 | $0.15 | $1.74 | $0.25 | $0.83 | -$0.03 | -$1.97 | $0.43 | $0.70 | $0.76 |
| Dividend yield | 4.31% | 4.39% | 3.81% | 4.45% | 4.24% | 3.93% | 4.22% | 3.74% | 5.23% | 3.77% | 3.52% | 5.04% | 3.88% | 4.64% | 4.40% | 7.77% | 4.61% | 4.18% | 4.64% |
| Payout | 159.42% | 91.04% | 95.93% | — | 71.90% | 161.76% | 126.44% | 64.33% | 159.42% | 196.43% | 733.33% | 63.22% | 440.00% | 132.53% | — | — | 374.88% | 218.86% | 187.63% |
| Profit margin | 11.75% | 20.88% | 19.11% | -10.85% | 24.20% | 12.28% | 16.72% | 31.33% | 12.51% | 11.22% | 5.03% | 28.51% | 6.86% | 17.90% | 4.13% | -24.09% | 8.69% | 7.64% | 9.22% |
| ROE | 5.01% | 10.53% | 9.64% | -5.01% | 10.63% | 5.03% | 5.86% | 11.42% | 4.56% | 4.90% | 1.90% | 11.54% | 2.77% | 6.57% | 1.54% | -10.55% | 3.49% | 5.48% | 4.99% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
-11.1% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| — |
| 1.7x |
| 6.47% |
| -16.46% |
| $4.08B |
| BNLBroadstone Net Lease, Inc. | $17.55 | 23.1x | 1.2x | 6.67% | 4.92% | $3.74B |
| HHHHoward Hughes Holdings Inc. | $69.49 | 14.1x | 1.0x | 0.00% | 7.49% | $4.15B |