COPT Defense Properties (CDP)vsEmpire State Realty OP LP ES (ESBA)
CDP
COPT Defense Properties
$37.81
+0.72%
REAL ESTATE · Cap: $4.38B
ESBA
Empire State Realty OP LP ES
$4.71
-1.86%
REAL ESTATE · Cap: $1.49B
Smart Verdict
WallStSmart Research — data-driven comparison
COPT Defense Properties generates 1% more annual revenue ($788.06M vs $776.71M). CDP leads profitability with a 20.8% profit margin vs 7.8%. ESBA trades at a lower P/E of 25.3x. CDP earns a higher WallStSmart Score of 66/100 (B-).
CDP
Strong Buy66
out of 100
Grade: B-
ESBA
Hold41
out of 100
Grade: D
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+18.5%
Fair Value
$39.73
Current Price
$37.81
$1.92 discount
Margin of Safety
+82.7%
Fair Value
$36.80
Current Price
$4.71
$32.09 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Strong operational efficiency at 32.2%
Keeps 21 of every $100 in revenue as profit
Reasonable price relative to book value
Reasonable price relative to book value
Areas to Watch
Moderate valuation
3.9% revenue growth
Weak financial health signals
Negative free cash flow — burning cash
Moderate valuation
4.9% revenue growth
Smaller company, higher risk/reward
ROE of 3.7% — below average capital efficiency
Comparative Analysis Report
WallStSmart ResearchBull Case : CDP
The strongest argument for CDP centers on Operating Margin, Profit Margin, Price/Book. Profitability is solid with margins at 20.8% and operating margin at 32.2%. PEG of 1.03 suggests the stock is reasonably priced for its growth.
Bull Case : ESBA
The strongest argument for ESBA centers on Price/Book.
Bear Case : CDP
The primary concerns for CDP are P/E Ratio, Revenue Growth, Piotroski F-Score.
Bear Case : ESBA
The primary concerns for ESBA are P/E Ratio, Revenue Growth, Market Cap. Debt-to-equity of 2.21 is elevated, increasing financial risk.
Key Dynamics to Monitor
ESBA carries more volatility with a beta of 1.40 — expect wider price swings.
ESBA is growing revenue faster at 4.9% — sustainability is the question.
ESBA generates stronger free cash flow (51M), providing more financial flexibility.
Monitor REIT - OFFICE industry trends, competitive dynamics, and regulatory changes.
Bottom Line
CDP scores higher overall (66/100 vs 41/100), backed by strong 20.8% margins. ESBA offers better value entry with a 82.7% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
COPT Defense Properties
REAL ESTATE · REIT - OFFICE · USA
COPT Defense Properties (CDP) is a niche real estate investment trust (REIT) dedicated to the acquisition, development, and management of properties that serve defense and government contractors. With a strategic focus on locations near critical defense installations, CDP is well-positioned to deliver stable, long-term cash flows that align with its tenants' needs amid a dynamic geopolitical landscape. The company’s disciplined capital allocation and robust development pipeline underscore its commitment to maximizing shareholder value while actively supporting national security initiatives.
Empire State Realty OP LP ES
REAL ESTATE · REIT - OFFICE · USA
Empire State Realty OP, L.P. is a subsidiary of Empire State Realty Trust, Inc.
Compare with Other REIT - OFFICE Stocks
Want to dig deeper into these stocks?