COPT Defense Properties (CDP) 2023年年度报告「NYSE」.pdf

1、2023Annual ReportDear fellow shareholders,In 2023,we celebrated our 25th anniversary as a publicly listed Company,a momentous occasion that we marked by ringing the closing bell at the New York Stock Exchange on September 15 and changing our Company name from Corporate Office Properties Trust(NYSE:O

2、FC)to COPT Defense Properties(NYSE:CDP).The name change was the culminating event of an 11-year transformation into the office sector leading Company we have become,and a commitment to our shareholders to maintain the highly successful strategy we envisioned in 2012 and enriched in 2016.It was a dee

3、ply satisfying experience for our entire team,as our relentless pursuit of our defense investment strategy was clearly observable in our performance,as we ranked#1 in terms of Total Shareholder Return among office REITs(as defined by Nareit)for the prior 24 and 48 month periods,and#2 for the prior 1

4、2,36,and 60 month periods through September 15.Reflecting on our strategic repositioning,it is self-evident that we have transformed into a much different and much stronger Company.Our focused strategy of concentrating on investments in assets that support priority U.S.national defense missions has

5、proven tremendously successful in terms of our financial performance,operating results,portfolio quality,and balance sheet strength.Over the past 12 years,we have sold over 10 million square feet of traditional,commodity office properties and developed over 11 million square feet of modern,efficient

6、 buildings constructed specifically for the missions we serve and located in key Defense/IT locations.We had another successful year in 2023,as we executed our plan to focus on growth and leveraging on our position of strength.We experienced strong demand across our Defense/IT Portfolio,which drove