Alpha Wave Global Increases Stake in COPT Defense Properties
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Source: NASDAQ.COM
- Increased Holdings: Alpha Wave Global, LP acquired 415,118 shares of COPT Defense Properties in Q1, with an estimated transaction value of $12.91 million, reflecting increased confidence in the REIT despite its 1.61% share of the fund's assets.
- Quarter-End Valuation: As of March 31, 2026, the stake in COPT Defense Properties was valued at $12.70 million, an increase of $12.70 million from the previous quarter, indicating positive impacts from both the new acquisition and price movements, although it underperformed the S&P 500.
- Leasing Performance: COPT's Defense/IT portfolio had a leasing rate of 96.4% at quarter-end, with same-property cash NOI rising 5.4% year-over-year, demonstrating that its focus on defense and IT tenants is generating stable cash flows and income growth.
- Market Positioning: COPT's portfolio primarily serves U.S. government and contractors, with 90% of core rental revenue derived from Defense/IT locations, showcasing its market advantage in high-security, mission-critical areas, although analysts remain cautious about future growth prospects.
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Analyst Views on CDP
Wall Street analysts forecast CDP stock price to rise
6 Analyst Rating
5 Buy
1 Hold
0 Sell
Strong Buy
Current: 31.640
Low
31.00
Averages
33.67
High
38.00
Current: 31.640
Low
31.00
Averages
33.67
High
38.00
About CDP
COPT Defense Properties is a self-managed real estate investment trust (REIT). The Company is focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key United States Government (USG) defense installations and missions (its Defense/IT Portfolio). The Company’s tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. Its Defense/IT Portfolio includes approximately 199 operating properties totaling 22.7 million square feet comprised of 16.8 million square feet in 168 office properties and 5.9 million square feet in 31 single-tenant data center shells. It owns approximately 24 of these data center shells totaling 4.3 million square feet through unconsolidated real estate joint ventures. It also owns around 50 acres of other developable land in the Greater Washington, DC/Baltimore region.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Alpha Wave Global Acquires Stake in COPT Defense Properties
- New Investment Position: According to an SEC filing dated May 14, 2026, Alpha Wave Global acquired 415,118 shares of COPT Defense Properties in Q1 2026, totaling $12.70 million, indicating confidence in the REIT and enhancing portfolio diversification.
- Asset Allocation Insight: Following this transaction, COPT Defense Properties accounted for 1.61% of Alpha Wave Global's reportable assets, with its largest holding, NYSE:QXO, representing 59.9%, highlighting a strategic focus on the defense sector.
- Market Performance Review: As of May 13, 2026, COPT Defense Properties' shares were priced at $31.70, reflecting a 22.4% increase over the past year, although underperforming the S&P 500 by 4.02 percentage points, showcasing market recognition of its defensive assets.
- Leasing and Income Growth: COPT's Defense/IT portfolio achieved a 95.6% occupancy rate in Q1, with same-property cash NOI rising 5.4% year-over-year, indicating that its strategy focused on defense and IT tenants is yielding stable cash flows and income growth.
See More
Alpha Wave Global Increases Stake in COPT Defense Properties
- Increased Holdings: Alpha Wave Global, LP acquired 415,118 shares of COPT Defense Properties in Q1, with an estimated transaction value of $12.91 million, reflecting increased confidence in the REIT despite its 1.61% share of the fund's assets.
- Quarter-End Valuation: As of March 31, 2026, the stake in COPT Defense Properties was valued at $12.70 million, an increase of $12.70 million from the previous quarter, indicating positive impacts from both the new acquisition and price movements, although it underperformed the S&P 500.
- Leasing Performance: COPT's Defense/IT portfolio had a leasing rate of 96.4% at quarter-end, with same-property cash NOI rising 5.4% year-over-year, demonstrating that its focus on defense and IT tenants is generating stable cash flows and income growth.
- Market Positioning: COPT's portfolio primarily serves U.S. government and contractors, with 90% of core rental revenue derived from Defense/IT locations, showcasing its market advantage in high-security, mission-critical areas, although analysts remain cautious about future growth prospects.
See More
CDP Holdings Declares Quarterly Dividend of $0.32 per Share
- Quarterly Dividend Declaration: CDP Holdings has declared a quarterly dividend of $0.32 per share, consistent with previous distributions, indicating the company's stable cash flow and shareholder return strategy, which is expected to bolster investor confidence.
- Dividend Yield: The forward yield of 4.04% reflects the company's ability to provide attractive returns in the current market environment, potentially attracting more investors seeking stable income.
- Shareholder Record Date: The dividend will be payable on July 15, with a record date of June 30 and an ex-dividend date also on June 30, ensuring shareholders receive their payouts promptly, thereby strengthening the shareholder base.
- Investment Commitment: CDP Defense Properties has raised its 2026 FFO per share midpoint to $2.76 while committing $290 million to new investments, demonstrating the company's confidence in future growth and strategic positioning.
See More
COPT Defense Properties Q1 2026 Earnings Call Highlights
- Strong Financial Performance: COPT reported Q1 2026 FFO per share of $0.69, exceeding the midpoint of guidance by $0.01 and reflecting a 6.2% year-over-year increase, which enhances investor confidence in the company's financial management and leasing effectiveness.
- Successful Lease Renewals: The company executed 1.2 million square feet of renewal leasing with a 91% retention rate, alongside cash rent spreads up 3.8% and GAAP rent spreads up 12%, indicating strong competitive positioning and customer loyalty in the market.
- Strategic Investment Expansion: COPT committed $55 million to a 150,000 square foot development project at Redstone Gateway aimed at providing anti-terrorism protective inventory for the U.S. government, showcasing the company's strategic positioning in the defense sector and anticipation of market demand.
- Optimistic Future Outlook: Management raised the midpoint of 2026 FFO per share guidance to $2.76 and projected Same Property cash NOI growth of 3%, reflecting confidence in future growth while emphasizing the potential impact of defense budget appropriations on demand.
See More
CDP Holdings Q1 Earnings Exceed Expectations
- Earnings Beat: CDP Holdings reported Q1 FFO of $0.69, beating estimates by $0.01, which reflects the company's strong performance in the market and boosts investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $200.64 million, a 6.8% year-over-year increase, surpassing market expectations by $4.45 million, indicating sustained business growth and strong market adaptability.
- Guidance Increase: CDP raised its midpoint FFO per share guidance for 2026 by 1 cent to $2.76, aligning with consensus, which reflects the company's confidence in future performance and stable growth outlook.
- Dividend Increase: CDP Holdings increased its quarterly dividend by 4.9% to $0.32 per share, demonstrating its commitment to shareholder returns while maintaining profitability, thereby enhancing investor appeal.
See More
COPT Defense Properties Q2 Adjusted FFO Per Share Forecast Ranges from USD 0.68 to 0.70
COPT Defense Properties Outlook: The outlook for COPT Defense Properties in Q2 has been adjusted, reflecting changes in market conditions and performance expectations.
FFO Per Share Adjustment: The Funds From Operations (FFO) per share has been revised to a range of $0.68 to $0.70, indicating a slight modification in financial projections.
See More
Alpha Wave Global Acquires Stake in COPT Defense Properties
- New Investment Position: According to an SEC filing dated May 14, 2026, Alpha Wave Global acquired 415,118 shares of COPT Defense Properties in Q1 2026, totaling $12.70 million, indicating confidence in the REIT and enhancing portfolio diversification.
- Asset Allocation Insight: Following this transaction, COPT Defense Properties accounted for 1.61% of Alpha Wave Global's reportable assets, with its largest holding, NYSE:QXO, representing 59.9%, highlighting a strategic focus on the defense sector.
- Market Performance Review: As of May 13, 2026, COPT Defense Properties' shares were priced at $31.70, reflecting a 22.4% increase over the past year, although underperforming the S&P 500 by 4.02 percentage points, showcasing market recognition of its defensive assets.
- Leasing and Income Growth: COPT's Defense/IT portfolio achieved a 95.6% occupancy rate in Q1, with same-property cash NOI rising 5.4% year-over-year, indicating that its strategy focused on defense and IT tenants is yielding stable cash flows and income growth.
See More
Alpha Wave Global Increases Stake in COPT Defense Properties
- Increased Holdings: Alpha Wave Global, LP acquired 415,118 shares of COPT Defense Properties in Q1, with an estimated transaction value of $12.91 million, reflecting increased confidence in the REIT despite its 1.61% share of the fund's assets.
- Quarter-End Valuation: As of March 31, 2026, the stake in COPT Defense Properties was valued at $12.70 million, an increase of $12.70 million from the previous quarter, indicating positive impacts from both the new acquisition and price movements, although it underperformed the S&P 500.
- Leasing Performance: COPT's Defense/IT portfolio had a leasing rate of 96.4% at quarter-end, with same-property cash NOI rising 5.4% year-over-year, demonstrating that its focus on defense and IT tenants is generating stable cash flows and income growth.
- Market Positioning: COPT's portfolio primarily serves U.S. government and contractors, with 90% of core rental revenue derived from Defense/IT locations, showcasing its market advantage in high-security, mission-critical areas, although analysts remain cautious about future growth prospects.
See More
CDP Holdings Declares Quarterly Dividend of $0.32 per Share
- Quarterly Dividend Declaration: CDP Holdings has declared a quarterly dividend of $0.32 per share, consistent with previous distributions, indicating the company's stable cash flow and shareholder return strategy, which is expected to bolster investor confidence.
- Dividend Yield: The forward yield of 4.04% reflects the company's ability to provide attractive returns in the current market environment, potentially attracting more investors seeking stable income.
- Shareholder Record Date: The dividend will be payable on July 15, with a record date of June 30 and an ex-dividend date also on June 30, ensuring shareholders receive their payouts promptly, thereby strengthening the shareholder base.
- Investment Commitment: CDP Defense Properties has raised its 2026 FFO per share midpoint to $2.76 while committing $290 million to new investments, demonstrating the company's confidence in future growth and strategic positioning.
See More
COPT Defense Properties Q1 2026 Earnings Call Highlights
- Strong Financial Performance: COPT reported Q1 2026 FFO per share of $0.69, exceeding the midpoint of guidance by $0.01 and reflecting a 6.2% year-over-year increase, which enhances investor confidence in the company's financial management and leasing effectiveness.
- Successful Lease Renewals: The company executed 1.2 million square feet of renewal leasing with a 91% retention rate, alongside cash rent spreads up 3.8% and GAAP rent spreads up 12%, indicating strong competitive positioning and customer loyalty in the market.
- Strategic Investment Expansion: COPT committed $55 million to a 150,000 square foot development project at Redstone Gateway aimed at providing anti-terrorism protective inventory for the U.S. government, showcasing the company's strategic positioning in the defense sector and anticipation of market demand.
- Optimistic Future Outlook: Management raised the midpoint of 2026 FFO per share guidance to $2.76 and projected Same Property cash NOI growth of 3%, reflecting confidence in future growth while emphasizing the potential impact of defense budget appropriations on demand.
See More
CDP Holdings Q1 Earnings Exceed Expectations
- Earnings Beat: CDP Holdings reported Q1 FFO of $0.69, beating estimates by $0.01, which reflects the company's strong performance in the market and boosts investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $200.64 million, a 6.8% year-over-year increase, surpassing market expectations by $4.45 million, indicating sustained business growth and strong market adaptability.
- Guidance Increase: CDP raised its midpoint FFO per share guidance for 2026 by 1 cent to $2.76, aligning with consensus, which reflects the company's confidence in future performance and stable growth outlook.
- Dividend Increase: CDP Holdings increased its quarterly dividend by 4.9% to $0.32 per share, demonstrating its commitment to shareholder returns while maintaining profitability, thereby enhancing investor appeal.
See More
COPT Defense Properties Q2 Adjusted FFO Per Share Forecast Ranges from USD 0.68 to 0.70
COPT Defense Properties Outlook: The outlook for COPT Defense Properties in Q2 has been adjusted, reflecting changes in market conditions and performance expectations.
FFO Per Share Adjustment: The Funds From Operations (FFO) per share has been revised to a range of $0.68 to $0.70, indicating a slight modification in financial projections.
See More
