COPT Defense Properties Q2 2026 Earnings Call Summary
COPT Defense Properties reported 24 consecutive quarters of year-over-year FFO growth and 84% tenant retention for the first half of 2026. It raised vacancy leasing targets by 20%, maintained a 95.2% lease rate in Northern Virginia, and expects same-property cash NOI growth to moderate in H2. Guidance includes ~8.5% development cash yields and 100% retention on eight large government leases.

