COPT Defense Properties (CDP) vs Independence Realty (IRT)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
COPT Defense Properties (CDP) has outperformed Independence Realty (IRT) over the past year, gaining 17.0% versus a loss of 11.0%. Over five years, CDP leads with a +17.4% price change compared with -32.2% for IRT. COPT Defense Properties is the larger company by market cap ($3.87 billion vs $3.49 billion), about 1.1 times the size, while Independence Realty is growing revenue faster (+2.8% vs +1.4%).
On valuation, COPT Defense Properties trades at a lower forward P/E (22.9x vs 180.5x for Independence Realty). Independence Realty offers the higher dividend yield (4.78% vs 3.74%). COPT Defense Properties converts more of its revenue into profit, with a net margin of 20.9% versus 8.6%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CDP | IRT |
|---|---|---|
| Share price | $33.39 | $14.44 |
| Market cap | $3.87B | $3.49B |
| 1-day change | -0.86% | -1.97% |
| YTD return | +20.11% | -17.39% |
| 1-year return | +16.95% | -11.03% |
| 5-year return | +17.45% | -32.24% |
| P/E ratio (TTM) | 23.19 | 80.22 |
| Forward P/E | 22.87 | 180.50 |
| EPS (TTM) | $1.44 | $0.18 |
| Dividend yield | 3.74% | 4.78% |
| Annual dividend | $1.25 | $0.69 |
| Revenue (latest FY) | $763.92M | $657.70M |
| Revenue growth (YoY) | +1.41% | +2.76% |
| Net income (latest FY) | $159.53M | $56.56M |
| Net margin | 20.88% | 8.60% |
| 52-week high | $38.90 | $17.79 |
| 52-week low | $27.06 | $14.34 |
| Distance from 52-week high | -14.16% | -18.83% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +20.93% | +33.45% |
| Average volume | 861.58K | 3.15M |
| Shares outstanding | 113.41M | 235.74M |
| Employees | 430 | 904 |
| Sector | Real Estate | Real Estate |
| Industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- CDP has outperformed IRT by 28.0 percentage points over the past year.
- Independence Realty trades at a higher earnings multiple (80.2x vs 23.2x trailing P/E).
- Independence Realty offers a meaningfully higher dividend yield (4.78% vs 3.74%).
- COPT Defense Properties is more profitable, keeping 20.9 cents of every revenue dollar as net income versus 8.6 cents for Independence Realty.
About COPT Defense Properties
CDP stock →COPT Defense Properties, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government defense installations and missions (referred to as its Defense/IT Portfolio).
Real Estate · Real Estate Investment Trusts · 430 employees
About Independence Realty
IRT stock →Independence Realty Trust, Inc., an S&P 400 MidCap Company, is a real estate investment trust that owns and operates multifamily communities across non-gateway U.S. markets.
Real Estate · Real Estate Investment Trusts · 904 employees
CDP vs IRT FAQ
Which is bigger, COPT Defense Properties or Independence Realty?
COPT Defense Properties (CDP) is larger, with a market capitalization of $3.87B compared with $3.49B for Independence Realty (IRT).
Which stock has performed better over the past year, CDP or IRT?
CDP returned +16.95% over the past 12 months, compared with -11.03% for IRT (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CDP or IRT?
CDP has the lower trailing P/E at 23.2, versus 80.2 for IRT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, COPT Defense Properties or Independence Realty?
Independence Realty has the higher yield at 4.78%, compared with 3.74% for COPT Defense Properties.
Are COPT Defense Properties and Independence Realty in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.