COPT Defense Properties raised its 2026 adjusted funds-from-operations forecast on October 29 after reporting third-quarter diluted earnings of 41 cents a share, compared with 37 cents a year earlier.
The property company said adjusted funds from operations reached 71 cents a share. FFO adjusts earnings for specified real-estate items and is separate from GAAP earnings.
Its new annual adjusted FFO forecast is $2.79–$2.81 a share, with the midpoint up 2 cents to $2.80. Annual diluted earnings guidance is $1.43–$1.45 a share.
COPT increased its vacancy-leasing target to 625,000 square feet from 475,000. It reported 222,000 square feet of vacancy leasing during the quarter and 453,000 through September.
The total portfolio was 94% occupied and 95% leased at September 30. Quarterly leasing totaled 842,000 square feet, including renewals and investment leasing.
Management also raised planned capital commitments to new investments by $40 million to $375 million. The revised targets describe expected activity and earnings rather than completed results.
Sources: COPT Defense October 29 earnings release via Business Wire: https://www.businesswire.com/news/home/20261029548923/en/COPT-Defense-Reports-Third-Quarter-2026-Results