COPT Defense Properties (CDP) 2022年年度报告「NYSE」.pdf

1、20 22CORPORATE OFFICE PROPERTIES TRUSTA N N U A L R E P O R TDear fellow shareholders,2022 was a year marked by success across all facets of our business.We executed our highest volume of vacancy leasing since 2010,reached a recent record portfolio leased rate,and have largely restocked our developm

2、ent pipeline following a year of significant development completions,all while maintaining our strong balance sheet.We achieved diluted FFO per share(“FFOPS”),as adjusted for comparability,of$2.36 in 2022,a 3.1%increase over 2021s exceptional results and$0.02 above the midpoint of our initial guidan

3、ce.Going forward,we continue to expect FFOPS to grow at roughly 4%on a compounded basis between 2023 and 2026,driven by NOI growth from highly-leased properties under development and recently placed into service,along with growth from our operating portfolio.In terms of operating activities,we execu

4、ted 801,000 square feet of vacancy leasing,which was well above our historical average since 2010(see Figure 1).Our total portfolio leased rate rose to 95.2%at year-end,which is the highest level in over a decade.Two of our largest locations,The National Business Park and Redstone Gateway,are both 9

5、8%leased,which represents a 300-basis point and a 600-basis point year-over-year increase,respectively.This leasing success,driven by our deep concentration in national defense activities,stands in sharp contrast to the headwinds facing the broader office environment,which has been negatively impact

6、ed by the current economic conditions and plagued by space contractions stemming primarily from work from home trends.Continued on Inside Back CoverLetter to ShareholdersIn 2022,we made continued progress in advancing our development pipeline by executing 476,000 square feet of development leasing.O