COPT(US:CDP)2025-10-31 16:00Financial Performance - Adjusted Funds From Operations Per Share (FFOPS) for 3Q25 was $069, a 62% year-over-year increase[12] - Same Property Cash Net Operating Income (NOI) increased by 46% for the Total Portfolio[12] - The company increased the 2025 FFOPS guidance by $003 at the midpoint, implying a 51% year-over-year growth[28,30] Leasing and Occupancy - Total leasing activity reached 971000 square feet in 3Q25 and 23 million square feet year-to-date[12] - The Defense/IT Portfolio occupancy rate was 954% occupied and 970% leased[12] - Total Portfolio retention rate was 82%[12] Investment and Capital Allocation - Acquired Stonegate I for $45 million, which is expected to be nearly 1/2-cent accretive to FFOPS in 2025 and nearly 2-cents accretive in 2026[15,20,52] - Capital committed to new investments was increased to a range of $225 million to $275 million[24,48] - The company issued $400 million of 450% Senior Notes due 2030[72] Market Factors and Growth Drivers - The FY 2026E Budget Request includes approximately $113 billion from the One Big Beautiful Bill Act (OBBBA) for DOD activities[33,36] - The Defense/IT Portfolio accounts for 90% of Annualized Rental Revenues (ARR)[39,40]