Financial Data and Key Metrics Changes - Adjusted funds from operations (AFFO) for Q1 2025 were $0.75 per share, and funds available for distribution (FAD) were $0.71 per share, reflecting revenue and EBITDA growth [6][11] - Revenue for Q1 2025 was $277 million, up from $243 million in Q1 2024, primarily due to new investments and operator restructurings [10] - Net income for Q1 2025 was $112 million, or $0.33 per share, compared to $69 million, or $0.27 per share, in Q1 2024 [10][11] - NAREIT FFO for Q1 was $184 million, or $0.62 per share, compared to $153 million, or $0.60 per share, in Q1 2024 [11] Business Line Data and Key Metrics Changes - The percentage of private pay and other revenue increased from 8% ten years ago to 39% today, with expectations for continued growth [9] - Maplewood's occupancy for its core portfolio reached 94% as of April 2025, with rent payments improving significantly [20] Market Data and Key Metrics Changes - The trailing twelve-month operator EBITDAR coverage for the core portfolio increased to 1.51x as of December 31, 2024, compared to 1.50x for the previous period [18] - Omega's investment activity in Q1 2025 included over $423 million in new real estate investments and $34 million in CapEx investments [22] Company Strategy and Development Direction - The company raised and narrowed its full-year adjusted FFO guidance to a range between $2.95 to $3.01 per share, assuming no change in revenue related to operators [14] - Omega is focusing on disciplined and sustainable investment decisions while serving a complex resident population across various asset types and markets [19] - The company continues to prioritize capital allocation towards accretive owned real estate deals that grow its balance sheet [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability of Genesis to continue paying rent, despite recent liquidity issues [7][35] - The company remains optimistic about the overall coverage and fundamentals improving, with no significant changes expected in the lending environment [29][63] - Management is closely monitoring potential Medicaid reforms and their implications for the business [29][81] Other Important Information - The company completed a $344 million investment for a portfolio of 45 care homes across the UK and Jersey, with an initial cash yield of 10% [24] - The federal judge ruled in favor of the industry regarding staffing mandates, which is expected to save the federal government $22 billion over ten years [28] Q&A Session Summary Question: Details on Genesis not paying rent and interest in March - Management indicated that Genesis has a weak balance sheet, and the shortfall was a one-time issue related to their ABL lender [34][36] Question: More details on the UK portfolio acquisition - The acquisition involved six operators and was completed quickly due to the company's strong platform in the UK [41][42] Question: Impact of immigration on labor availability and wage pressures - Management has not seen any significant impact from immigration on labor availability or wage pressures at this time [46] Question: Genesis operating fundamentals - Coverage metrics for Genesis have improved, with the portfolio consistently above 1.5 times [47] Question: Cap rates for yields on first quarter dispositions - Management indicated that the dispositions were both opportunistic and part of a cleanup of non-core assets [85]

Core Insights - City Office REIT, Inc. reported its first quarter results for 2025, indicating a positive trend in leasing activity and office real estate fundamentals in Sun Belt markets [3][4] - The company achieved a Same Store Cash NOI increase of 4.4% year-over-year and an 8.5% cash re-leasing spread over the last twelve months [3][4] - A significant redevelopment project is planned for the City Center property in St. Petersburg, Florida, which includes a 49-story mixed-use tower [3][10] Financial Performance - Total rental and other revenues for the quarter were $42.3 million, with a GAAP net loss attributable to common stockholders of approximately $3.5 million, or ($0.09) per fully diluted share [9][34] - Core FFO was approximately $12.3 million, or $0.30 per fully diluted share, while AFFO was approximately $6.5 million, or $0.16 per fully diluted share [9][36] - The company declared a first quarter dividend of $0.10 per share of common stock and $0.4140625 per share of Series A Preferred Stock, both paid on April 24, 2025 [12][13] Portfolio Operations - As of March 31, 2025, the total portfolio comprised 5.4 million net rentable square feet, with an occupancy rate of 84.9%, or 87.6% including signed leases not yet occupied [4][9] - The company executed approximately 144,000 square feet of new and renewal leases during the quarter, with new leases averaging a term of 5.9 years at an effective annual rent of $29.97 per square foot [5][6] Capital Structure - The company had total principal outstanding debt of approximately $648.1 million, with 82.3% of the debt being fixed rate or effectively fixed due to interest rate swaps [7] - The weighted average maturity of the debt was approximately 1.6 years, with a weighted average interest rate of 5.1% [7] Future Outlook - The company is reiterating its full-year 2025 guidance based on current plans and assumptions, reflecting management's view of market conditions [14]

May 2025 First Quarter 2025 Investor Presentation Ashley Park | Atlanta, GA Highlights Q1 2025 Highlights | $80mm | Investment activity | | --- | --- | | $225 | Implied property value per square foot | | ~109,400 | Square feet of comparable leasing activity | | 37% | Comparable leasing spread | | 83% | ABR from Georgia, Texas, Florida & North Carolina | | ~191,000 | Portfolio 5-mile population | | 6.6x | Net Debt to Pro Forma Adjusted EBITDA | | 2.4% | Same-Property NOI quarter-over-quarter growth | $496M $ ...

BOSTON, May 01, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (–“Plymouth” or the “Company”) today announced its financial results for the first quarter ended March 31, 2025 and other recent developments. First Quarter and Subsequent Highlights Reported results for the first quarter of 2025 reflect net income attributable to common stockholders of $0.13 per weighted average common share; Core Funds from Operations attributable to common stockholders and unit holders (“Core FFO”) of $0 ...

– Acquired one property for $79.8 million –– Signed comparable leases on 109,000 square feet for growth of 37.2% –– Current signed-not-open pipeline of $4.0 million – WINTER PARK, Fla., May 01, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”), an owner and operator of retail-based properties located primarily in higher-growth markets, today announced its operating and financial results for the quarter ended March 31, 2025. First Quarter 2025 Highlights Net Income attribu ...

Core Insights - Crown Castle Inc. (CCI) reported first-quarter 2025 adjusted funds from operations (AFFO) per share of $1.10, exceeding the Zacks Consensus Estimate of $1.02, but reflecting a nearly 1% decline year over year [1] - The company maintained its 2025 guidance for AFFO per share in the range of $4.06-$4.17, while the Zacks Consensus Estimate stands at $4.47, above the projected range [6] Financial Performance - CCI's net revenues for the first quarter were $1.06 billion, surpassing the Zacks Consensus Estimate of $1.04 billion, but down 4.8% year over year [2] - Total site rental revenues decreased by 5.3% year over year to $1.01 billion, attributed to a $16 million decrease in amortization of prepaid rent and a $39 million decrease in straight-lined revenues [3] - Services and other revenues increased by 8.7% year over year to $50 million, exceeding the estimate of $44.4 million [4] - Adjusted EBITDA for the quarter was $722 million, down 4.2% year over year [4] Financial Position - As of March 31, 2025, CCI had cash and cash equivalents of $60 million, a decrease from $100 million as of December 31, 2024 [5] - Total debt and long-term obligations amounted to $22.87 billion, reflecting a 2.5% sequential decrease [5] Guidance and Outlook - CCI reaffirmed its site rental revenue guidance for 2025 to be between $3.987 billion and $4.032 billion, with adjusted EBITDA estimated in the range of $2.755-$2.805 billion [6] - Contributions from the Fiber Business are included in net income but excluded from other results and outlook components due to its classification as discontinued operations [7]

Core Viewpoint - VICI Properties reported a first-quarter adjusted funds from operations (AFFO) per share of 58 cents, consistent with estimates, and a 3.6% increase year-over-year, driven by revenue growth from sales-type leases and lease financing, despite higher interest expenses [1][2] Financial Performance - Total revenues for VICI Properties reached $984.2 million, slightly below the consensus estimate of $985.6 million, marking a 3.4% year-over-year increase [2] - Income from sales-type leases was $528.6 million, up 3.1% from the previous year, while income from lease financing receivables, loans, and securities rose 4.2% to $426.5 million [3] - Other income increased by 1% to $19.5 million, although golf revenues fell by 4.8% to $9.6 million [3] - Quarterly interest expenses rose 2.1% year-over-year to $209.3 million [3] Balance Sheet Position - As of March 31, 2024, VICI Properties had cash and cash equivalents of $334.3 million, down from $524.6 million at the end of 2024 [5] - Total liquidity was reported at $3.2 billion, which includes cash, estimated net proceeds from forward sale agreements, and availability under a revolving credit facility [5] - Total debt increased to approximately $17.2 billion, up from $17.1 billion in the previous quarter [6] 2025 Outlook - The company raised its AFFO per share guidance for 2025 to a range of $2.33-$2.36, above the previous guidance of $2.32-$2.35, aligning with the current consensus estimate [7]

Core Viewpoint - Equinix Inc. reported strong financial results for Q1 2025, with adjusted funds from operations (AFFO) per share of $9.67, exceeding estimates and reflecting a 9.1% year-over-year increase, driven by robust demand for digital infrastructure and services [1][2] Financial Performance - Total quarterly revenues reached $2.23 billion, surpassing the Zacks Consensus Estimate of $2.22 billion, and increased by 4.6% year over year [2] - Recurring revenues were $2.087 billion, up 3.8% from the previous year, while non-recurring revenues rose 17.9% to $138 million [3] - Adjusted EBITDA was reported at $1.067 billion, a 7.6% increase year over year, with an adjusted EBITDA margin of 48% [4] - AFFO increased by 12.3% from the prior year to $947 million [4] Balance Sheet Position - As of March 31, 2025, Equinix had $7.6 billion in available liquidity and total debt of approximately $18.2 billion, with a net leverage ratio of 3.4 [5] Dividend Announcement - Equinix's board declared a quarterly cash dividend of $4.69 per share, payable on June 18, 2025, to shareholders on record as of May 21, 2025 [6] 2025 Guidance Revision - For Q2 2025, Equinix projects revenues between $2.244 billion and $2.264 billion, indicating a 1% increase over the prior quarter, with adjusted EBITDA expected in the range of $1.095-$1.115 billion [7] - The company raised its 2025 AFFO per share guidance to between $37.36 and $38.17, suggesting a 7-9% increase from the previous year [7] - Total revenue for 2025 is estimated to be between $9.175 billion and $9.275 billion, reflecting a growth of 5-6% from 2024 [8]

ORLANDO, Fla., May 1, 2025 /PRNewswire/ -- NNN REIT, Inc. (NYSE: NNN) (the "Company" or "NNN"), a real estate investment trust, today announced financial and operating results for the quarter ended March 31, 2025. Highlights include:First Quarter 2025 Highlights: Net earnings of $0.51 per diluted share Grew Core FFO and AFFO per diluted share by 3.6% over prior year results, to $0.86 and $0.87, respectively Increased ABR by 5.2% over the prior year result Closed on $232.4 million of investments, at an initi ...

Q1 2025 QUARTERLY SUPPLEMENTAL INFORMATION Broadstone Net Lease, Inc. (NYSE: BNL) is an industrial- focused, diversified net lease real estate investment trust (REIT) that invests in single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. www.broadstone.com Table of Contents | Section | Page | | --- | --- | | About the Data | 3 | | Company Overview | 4 | | Quarterly Financial Summary | 5 | | Balance Sheet | 6 | | Income Statement Summary | ...