NEW YORK, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended December 31, 2025 Financial Results NET INCOME attributable to common shareholders for the quarter ended December 31, 2025 was $601,000, or $0.00 per diluted share, compared to $1,203,000, or $0.01 per diluted share, for the prior year's quarter. FUNDS FROM OPERATIONS ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) for the quarter ended December 31, 2025 was $112,927,000 ...

Core Insights - UDR, Inc. reported strong financial results for Q4 and full-year 2025, with FFOA per share and Same-Store growth exceeding expectations [1][2] - The company established guidance ranges for 2026 and announced a dividend increase, reflecting confidence in future performance [1][2] Financial Performance - Q4 2025 net income per diluted share was $0.67, exceeding guidance of $0.13 to $0.15 and up from $0.69 in Q4 2024 [1] - Full-year 2025 net income per diluted share reached $1.13, a significant increase of 335% from $0.26 in 2024 [1] - FFO per diluted share for Q4 2025 was $0.62, slightly below the guidance of $0.63 to $0.65, but up 29% from $0.48 in Q4 2024 [1] - Full-year 2025 FFO per diluted share was $2.43, a 6% increase from $2.29 in 2024 [1] Same-Store Results - Q4 2025 Same-Store revenue growth was 1.8% year-over-year, while expenses increased by 2.0%, resulting in a 1.7% growth in Net Operating Income (NOI) [1] - For the full year 2025, Same-Store revenue growth was 2.4%, with expenses rising by 2.6%, leading to a 2.3% increase in NOI [1] Operational Highlights - The company repurchased approximately 2.6 million shares at an average price of $35.56, totaling about $92.8 million [1] - UDR completed the acquisition of The Enclave at Potomac Club for approximately $147.7 million and expanded its joint venture with LaSalle Investment Management by $231.6 million [1][2] Guidance and Outlook - For Q1 2026, UDR expects net income per diluted share between $0.11 to $0.13 and FFO per diluted share between $0.61 to $0.63 [1] - Full-year 2026 guidance includes net income per diluted share of $0.45 to $0.55 and FFO per diluted share of $2.47 to $2.57 [1] Dividend Information - The board declared a quarterly dividend of $0.43 per share for Q4 2025, a 1.2% increase from the same period in 2024 [2] - The annualized dividend for 2026 is set at $1.74, also reflecting a 1.2% increase over 2025 [2] Corporate Governance - UDR appointed Richard B. Clark and Ellen M. Goitia to its Board of Directors, enhancing the board's expertise in real estate investment and corporate governance [2]

CURBLINE PROPERTIES TABLE OF CONTENTS CURBLINE PROPERTIES 4Q25 EARNINGS CONFERENCE CALL FEBRUARY 9, 2026 SAFE HARBOR STATEMENT Curbline Properties Corp. considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in su ...

Core Insights - Curbline Properties Corp. reported a significant increase in net income for the year ended December 31, 2025, reaching $39.8 million, or $0.37 per diluted share, compared to $10.3 million, or $0.09 per diluted share, in the previous year [1][2] - The company experienced strong growth in operating funds from operations (OFFO), which rose to $30.4 million, or $0.29 per diluted share, in the fourth quarter of 2025, up from $23.8 million, or $0.23 per diluted share, in the same period last year [1][2] - Curbline's strategy focuses on acquiring convenience shopping centers, with nearly $800 million in real estate acquired during 2025, and a same-property net operating income (NOI) growth of over 3% [1][2] Fourth Quarter Results - Fourth quarter net income attributable to Curbline was $9.5 million, or $0.09 per diluted share, down from $11.5 million, or $0.11 per diluted share, in the prior year, primarily due to decreased interest income and increased expenses [1][2] - The company reported a leased rate of 96.7% as of December 31, 2025, consistent with the previous quarter and an increase from 95.5% a year earlier [1][2] - Significant leasing spreads were achieved, with cash new leasing spreads of 19.4% and cash renewal leasing spreads of 8.0% for the trailing twelve-month period ended December 31, 2025 [1][2] Full-Year 2025 Activity - Curbline acquired a total of 81 convenience shopping centers for an aggregate price of $788.4 million during 2025 [1][2] - The company successfully executed a $150 million term loan and issued senior unsecured notes totaling $200 million, with fixed interest rates established through treasury lock agreements [1][2] - Fitch Ratings assigned a Long-Term Issuer Default Rating of 'BBB' with a Stable Outlook to Curbline in May 2025 [1][2] 2026 Guidance - For 2026, Curbline estimates net income attributable to be between $0.32 and $0.40 per diluted share, with Operating FFO projected to be between $1.17 and $1.21 per diluted share [2][3] - The guidance does not include projections for gains or losses on asset sales or transaction costs [2][3] Financial Metrics - The company reported a same-property NOI increase of 3.3% for the year ended December 31, 2025, compared to the previous year [1][2] - The Signed Not Opened spread was 260 basis points, representing $8.4 million of annualized base rent [1][2] - Curbline's OFFO for the full year 2025 was $112 million, or $1.06 per diluted share, compared to $83.5 million, or $0.80 per diluted share, in 2024 [1][2]

Fourth Quarter 2025 Results Table of Contents | Earnings Release | 1 - 5 | | --- | --- | | Consolidated Statements of Operations | 6 | | Consolidated Statements of Funds From Operations and Normalized | | | Funds From Operations | 7 | | Consolidated Balance Sheets | 8 | | Portfolio Summary | 9 | | Portfolio Rollforward | 10 | | Same Store Results 11 - 18 | | | Debt Summary 19 - 21 | | | Capital Structure | 22 | | Common Share and Unit Weighted Average Amounts Outstanding | 23 | | Partially Owned Properties ...

First Liberty Logistics Center | Houston, TX 424,560 Square Feet SUPPLEMENTAL INFORMATION FOURTH QUARTER 2025 TABLE OF CONTENTS | SECTION PAGE | | | --- | --- | | PORTFOLIO COMPOSITION | 3 | | FINANCIAL STATEMENTS | | | Balance Sheets | 4 | | GAAP Statements of Operations | 5 | | Supplemental Statements of Operations | 6 | | Supplemental Statements of Operations Reconciliation | 7 | | SELECTED FINANCIAL INFORMATION | | | Equity Analysis | 9 | | Debt Analysis | 10 | | Debt Covenant Analysis and Credit Rating ...

Core Insights - First Industrial Realty Trust reported a fourth quarter and full year 2025 results showing growth in funds from operations (FFO) and net income, despite a volatile leasing market [1][2] Financial Performance - Fourth quarter diluted net income per share was $0.59, up from $0.52 a year ago; full year 2025 EPS was $1.87, down from $2.17 in 2024 [1][4] - Fourth quarter FFO was $0.77 per share/unit, compared to $0.71 a year ago; full year 2025 FFO was $2.96 per share/unit, an 11.7% increase from $2.65 in 2024 [1][4] - Cash same store NOI growth for the full year 2025 was 7.1%, driven by increased rental rates on new and renewal leases [1][4] Leasing and Rental Rates - In the fourth quarter, cash rental rates on new and renewal leases increased by 35%; for the full year, cash rental rates increased by 32%, with a 37% increase excluding fixed-rate renewals [1][4] - The company signed 447,000 square feet of new leases for development projects in the fourth quarter, with an additional 231,000 square feet signed after the third quarter earnings call [1][2] Development and Investment Activities - The company commenced two development projects in 1Q26 totaling 305,000 square feet with an estimated investment of $70 million [1][2] - Acquired a 968,000 square-foot building in Phoenix for $125 million, fully leased [1][4] - Sold 71 acres from its Camelback 303 joint venture for gross proceeds of $58 million [1][4] Capital Markets and Dividend - Closed $425 million and $375 million unsecured term loans in 1Q26, with interest rates based on SOFR plus 85 basis points [2][4] - Increased the first quarter 2026 dividend to $0.50 per share, a 12.4% increase from the previous rate of $0.445 [1][2] 2026 Outlook - Guidance for 2026 NAREIT FFO is set between $3.09 and $3.19 per share/unit, indicating approximately 6% growth at the midpoint [1][2] - The company expects cash same store NOI growth of 5.0% to 6.0% and average quarter-end in-service occupancy of 94.0% to 95.0% [2][4]

GERMANTOWN, Tenn., Feb. 4, 2026 /PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced operating results for the three and twelve months ended December 31, 2025. | Three months ended December 31, | Year ended December 31, | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025 | 2024 | 2025 | 2024 | | | | | | | Earnings per common share - diluted | $ | 0.48 | $ | 1.42 | $ | 3.78 | $ | 4.49 | | (1)Funds from operations (FFO) per Share - diluted | $ ...

Financial Data and Key Metrics Changes - For the full year 2025, the company reported FFO per share of $2.00, which is approximately 3% above initial expectations [3] - Fourth quarter FFO per share was $0.47, a decrease of approximately $0.02 compared to Q3 2025, primarily due to non-recurrence of termination fees recognized in Q3 [20][21] - Same-store cash NOI for the full year increased by 0.5% compared to 2024, with office segment increasing by 2.3% and retail by 1.2%, while multifamily declined by 3.2% [21][22] Business Line Data and Key Metrics Changes - The office segment showed continued progress with same-store office NOI increasing just over 1% for the quarter and nearly 2.5% for the full year [8][21] - Retail segment ended the year at 98% leased, with fourth quarter leasing totaling 43,000 sq ft and positive cash and GAAP leasing spreads [11] - Multifamily segment ended the year 95.5% leased, achieving approximately 1% net effective rent growth year over year, despite competitive leasing conditions [12][13] Market Data and Key Metrics Changes - In West Coast office markets, signs of stabilization and gradual improvement in leasing activity were noted, particularly in San Diego and San Francisco [5][6] - The overall office portfolio ended the quarter 83% leased, with same-store office portfolio at 86%, up about 150 basis points from Q3 [7][11] - Retail availability is expected to remain near record lows nationally, supporting asking rents [12] Company Strategy and Development Direction - The company aims to drive office leasing by converting prospect activity into signed leases and maintaining retail momentum by managing expirations and focusing on tenant quality [18] - The strategy includes managing through the multifamily supply cycle with disciplined revenue management and cost control [18] - The company is focused on maintaining a strong balance sheet and improving valuation over time [17][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macro uncertainty but believes coastal infill locations and high-quality real estate position the company to capture demand as it materializes [5] - The outlook for 2026 includes a FFO guidance range of $1.96-$2.10 per share, with a midpoint of $2.03, reflecting a conservative approach to leasing velocity and market conditions [25][32] - Management expressed frustration with the current share price, indicating that the public market valuation does not reflect the intrinsic value of the company's assets [16] Other Important Information - The company declared a quarterly dividend of $0.34 per share for the first quarter, with expectations to maintain the dividend at current levels [17] - Liquidity at the end of the fourth quarter was approximately $529 million, with a leverage ratio of 6.9x on a trailing twelve-month basis [23][24] Q&A Session Summary Question: Inquiry about elevated TIs for renewals and demand environment - Management acknowledged that higher capital burdens for office leasing are expected to moderate as occupancy improves and availability tightens [36] Question: Timeline to achieve target leverage of 5.5x - Management indicated that leasing up La Jolla Commons 3 and One Beach would help achieve the target leverage [40] Question: Potential strategic asset sales to improve stock valuation - Management stated they would consider asset sales at favorable prices but would not sell at a discount just to check a box [42][43] Question: Guidance assumptions for office segment lease rates - Management reported that 68,000 sq ft has been signed in 11 deals year-to-date, with a significant pipeline of additional leasing activity [48] Question: Credit reserves and tenant health - Management clarified that the credit reserves are a conservative measure and not indicative of specific tenant concerns [84]

Financial Data and Key Metrics Changes - For the full year 2025, the company reported FFO per share of $2.00, which is about 3% above initial expectations [3] - Same-store cash NOI increased by 0.5% compared to 2024 [18] - Fourth quarter FFO per share was $0.47, a decrease of approximately $0.02 compared to Q3 2025 [18] Business Line Data and Key Metrics Changes - Office segment same-store NOI increased by 2.3% for the year, driven by higher base rent and improved expense recoveries [19] - Retail segment same-store NOI increased by 1.2% for the year, reflecting strong growth in the first half of 2025 [19] - Multifamily segment declined by 3.2% for the year due to flat to modestly lower rents and elevated concessions [20] - Mixed-use segment declined by 6.7% in 2025, impacted by softer hotel demand in Waikiki [20] Market Data and Key Metrics Changes - The office portfolio ended the quarter 83% leased, with same-store office portfolio at 86% leased, up about 150 basis points from Q3 [6] - Retail segment ended the year at 98% leased, with positive cash and GAAP leasing spreads [10] - Multifamily ended the year 95.5% leased, with approximately 1% net effective rent growth year over year [11] Company Strategy and Development Direction - The company aims to drive office leasing by converting prospect activity into signed leases and commenced revenue [16] - Retail momentum will be maintained by keeping centers full and managing expirations [16] - The company plans to manage through the multifamily supply cycle with disciplined revenue management and cost control [16] - The focus will be on prudent hotel operations while responding to market demand [16] Management's Comments on Operating Environment and Future Outlook - Management believes that coastal infill locations and high-quality real estate position the company to capture demand as it materializes [5] - The company views 2026 as an opportunity to build upon the progress made in 2025, with a focus on operational execution and long-term value creation [15][16] - Management expressed frustration with the current share price, indicating that it does not reflect the intrinsic value of the company's assets [14] Other Important Information - The company declared a quarterly dividend of $0.34 per share for the first quarter, with expectations to maintain the dividend at current levels [15] - Liquidity at the end of the fourth quarter was approximately $529 million, with a leverage ratio of 6.9x on a trailing twelve-month basis [22][23] Q&A Session Summary Question: Regarding elevated TIs for office renewals - Management acknowledged that higher capital burdens for office leasing are expected to moderate over time as occupancy improves [35][36] Question: Timeline to achieve target leverage of 5.5x - Management indicated that leasing up La Jolla Commons 3 and One Beach will help achieve the target leverage [40] Question: Steps to reinvigorate stock price - Management is open to strategic asset sales if they reflect long-term value but will not sell at a discount [42][43] Question: Guidance assumptions for office segment lease rates - Management reported that 68,000 sq ft has been signed year-to-date, with a significant pipeline of leasing activity [49] Question: Credit reserves in guidance - Management clarified that credit reserves are a conservative measure and not indicative of specific tenant concerns [84]