Adjusted Funds from Operations (AFFO)
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MacKenzie Realty Capital Reports First Quarter 2026 Financial Results and Aurora Lease-up
Globenewswire· 2025-11-18 20:07
ORINDA, Calif., Nov. 18, 2025 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) (“MacKenzie” or the “Company”) today announced its financial results for the first quarter ended September 30, 2025 and announced its Aurora at Green Valley is now over 50% leased. Key Financial Highlights:Operating Results for the Quarter Ended September 30, 2025: Net revenues for quarter ended September 30, 2025, were $4.54 million, a decrease of 8.3% from $4.95 million in the same period of 2024.Net operating ...
Nexus Industrial REIT Announces Third Quarter 2025 Financial Results
Globenewswire· 2025-11-13 00:05
Core Insights - Nexus Industrial REIT reported strong operational performance in Q3 2025, completing two new industrial developments expected to generate $6.6 million in annual stabilized NOI, reflecting a 9.4% return on development costs [2][3] - The REIT's industrial occupancy rate improved to 96% following successful leasing activities, including filling a 223,000 sq ft building in London and achieving a 13% average lift on 150,000 sq ft of lease renewals [3][6] - The transition to a pure-play industrial REIT is complete, with the sale of 15 retail properties and other assets generating total proceeds of $71.3 million [6][21] Financial Performance - For Q3 2025, property revenues were $43.3 million, down from $45.5 million in Q3 2024, while NOI was $32.2 million, a slight decrease from $32.6 million year-over-year [9][38] - Net income for Q3 2025 was $3.4 million, a significant improvement from a loss of $46.0 million in the same quarter last year, primarily due to fair value adjustments [14][15] - Year-to-date, net income reached $29.0 million, down from $41.2 million in the previous year, mainly due to a decrease in fair value adjustments of investment properties [15][17] Leasing and Occupancy - The REIT completed 1,101,534 sq ft of leasing year-to-date at an average spread of 66% over expiring rents, contributing to an industrial occupancy rate of 96% [6][12] - Same Property NOI for Q3 2025 increased by 2.7% year-over-year, with Industrial Same Property NOI growing by 2.9% [9][38] Development Projects - The completed projects include a 325,000 sq ft expansion in St. Thomas, ON, and a 115,000 sq ft small-bay complex in Calgary, AB, both expected to add $6.6 million in annual stabilized NOI [22][23] - The REIT achieved a going-in yield of 9.0% on the St. Thomas project and approximately 11% on the Calgary project [23] Capital and Equity - Unitholders' equity decreased by $1.0 million to $1.1 billion, with NAV per unit at $12.98, down 1.6% from the end of 2024 [7][12] - The REIT's total assets were reported at $2.6 billion, with net debt at $1.3 billion, reflecting a Total Indebtedness Ratio of 48.9% [12][41] Outlook - The REIT anticipates Same Property NOI growth of approximately 3% for the full year 2025, a revision from previous mid-single digit expectations due to changes in lease-up timing [21][20] - The focus remains on delivering total unitholder return through profitable long-term growth as a Canada-focused pure-play industrial REIT [20][21]
Flagship Communities Real Estate Investment Trust Announces Third Quarter 2025 Results
Globenewswire· 2025-11-12 22:00
Not for distribution to U.S. newswire services or dissemination in the United States. TORONTO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Flagship Communities Real Estate Investment Trust (“Flagship” or the “REIT”) (TSX: MHC.U; MHC.UN) today released its third quarter 2025 results. The financial results of the REIT are prepared in accordance with International Accounting Standard 34 (“IAS 34”), Interim Financial Reporting, as issued by the International Accounting Standards Board (the “IASB”). Results are shown in U ...
OUTFRONT Media Stock Down Despite Q3 AFFO & Revenue Beat
ZACKS· 2025-11-07 15:31
Core Insights - OUTFRONT Media Inc. reported third-quarter 2025 adjusted funds from operations (AFFO) per share of 57 cents, exceeding the Zacks Consensus Estimate of 50 cents and up from 49 cents a year ago [1][10] - Quarterly revenues reached $467.5 million, surpassing the Zacks Consensus Estimate of $456.6 million, and reflecting a year-over-year increase of 3.5% [2][10] Revenue Breakdown - Billboard revenues were $352.8 million, showing a year-over-year decline of 2.2% due to lost billboards and lower proceeds from condemnations, partially offset by increased average revenue per display [3] - Transit revenues rose to $112.4 million, a 23.7% increase from the previous year, driven by higher average revenue per display, despite the impact of new and lost transit franchise contracts [4] Operating Performance - Operating income for the quarter was $89.9 million, compared to $71.3 million in the same quarter last year [4] - Operating expenses decreased by 1% year over year to $230.7 million, influenced by lost billboards and lower variable property lease expenses, while the adjusted OIBDA margin improved to 29.3%, up 340 basis points year over year [5] Financial Position - As of September 30, 2025, the company had unrestricted cash of $63 million and $494.9 million available under its $500 million revolving credit facility, with total debt outstanding at $2.6 billion [7] - Net interest expenses were $37 million, slightly down from $37.1 million in the prior year, with a weighted average cost of debt of 5.4% [6] Dividend Announcement - Concurrent with the earnings release, OUTFRONT Media announced a quarterly cash dividend of 30 cents per share, payable on December 31 to shareholders of record as of December 5, 2025 [9]
Are Wall Street Analysts Bullish on American Tower Stock?
Yahoo Finance· 2025-11-07 13:43
Core Insights - American Tower Corporation (AMT) has a market cap of $83.4 billion and is a leading global REIT focused on multitenant communications real estate, with over 149,000 communications sites and a growing U.S. data center network [1] - AMT's stock has underperformed the broader market, dropping 9.8% over the past 52 weeks, while the S&P 500 Index has risen 13.4% [2] - Despite reporting better-than-expected Q3 2025 AFFO of $2.78 per share and revenues of $2.72 billion, AMT's shares fell 3.7% due to flat property revenue in the U.S. and Canada [4] Financial Performance - For the fiscal year ending December 2025, analysts expect AMT's AFFO per share to decline by 2.3% year-over-year to $10.30 [5] - The company raised its 2025 property revenue guidance to between $10.21 billion and $10.29 billion, but disclosed $30 million in revenue reserves related to legal disputes [4] Analyst Ratings and Price Targets - Among 23 analysts covering AMT, the consensus rating is a "Strong Buy," with 16 "Strong Buy" ratings, one "Moderate Buy," and six "Holds" [5] - Argus analyst lowered the price target on AMT to $210 while maintaining a "Buy" rating, with a mean price target of $230.20 indicating a 29.3% premium to the current price [6]
European Residential REIT Reports Third Quarter 2025 Results
Globenewswire· 2025-11-05 22:00
TORONTO, Nov. 05, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust ("ERES" or the "REIT") (TSX: ERE.UN) announced today its results for the three and nine months ended September 30, 2025. ERES’s unaudited condensed consolidated interim financial statements and management's discussion and analysis ("MD&A") for the three and nine months ended September 30, 2025 can be found at www.eresreit.com or under ERES's profile at SEDAR+ at www.sedarplus.ca. SIGNIFICANT EVENTS AND HIGHLIGHTS St ...
Global Net Lease Reports Third Quarter 2025 Results
Globenewswire· 2025-11-05 21:15
Core Insights - Global Net Lease, Inc. (GNL) has achieved significant financial milestones, including an upgrade of its corporate credit rating to investment-grade BBB- from BB+ by Fitch Ratings, reflecting successful deleveraging and operational efficiencies [4][5]. - The company reduced its net debt by $2 billion since Q3 2024 and increased liquidity to $1.1 billion, enhancing its financial stability [4][10]. - GNL raised its full-year Adjusted Funds from Operations (AFFO) per share guidance to a new range of $0.95 to $0.97, up from the previous range of $0.92 to $0.96 [1][6]. Financial Performance - Revenue for Q3 2025 was $121.0 million, down from $138.7 million in Q3 2024, primarily due to asset dispositions [4][7]. - The net loss attributable to common stockholders was $71.1 million in Q3 2025, an improvement from a net loss of $76.6 million in Q3 2024 [4][7]. - Core Funds from Operations (Core FFO) decreased to $39.5 million from $53.9 million year-over-year, while Adjusted Funds from Operations (AFFO) fell to $53.2 million, or $0.24 per share, compared to $73.9 million, or $0.32 per share, in the prior year [4][7]. Capital Structure and Liquidity - GNL executed a $1.8 billion refinancing of its revolving credit facility, resulting in a 35 basis point reduction in the interest rate spread and extending the weighted average debt maturity [3][4]. - The weighted average interest rate decreased to 4.2% from 4.8% in Q3 2024, contributing to improved financial conditions [4][11]. - The company has a total liquidity of $1.1 billion and a revolving credit facility capacity of $1.2 billion, significantly up from $252.7 million and $366.0 million, respectively, in Q3 2024 [10][17]. Portfolio and Operations - As of September 30, 2025, GNL's portfolio consisted of 852 net lease properties across approximately 43 million rentable square feet, with a 97% lease rate and a weighted average lease term of 6.2 years [8][10]. - The company achieved a 26% renewal leasing spread, with significant renewals from GE Aviation and GXO Logistics, and a weighted average renewal term of 7.3 years [4][8]. - 60% of the annualized straight-line rent is derived from investment-grade or implied investment-grade tenants, indicating a strong tenant quality [4][8][13].
Suncor(SU) - 2025 Q3 - Earnings Call Presentation
2025-11-05 14:30
SUNCOR ENERGY Investor Information Q3 2025 Published November 4, 2025 SUNCOR ENERGY Suncor's value proposition Long-life, competitively advantaged assets Regional and vertical integration Operational reliability Disciplined investment & cost management Deliver superior long-term shareholder value SUNCOR ENERGY 2 Suncor key statistics | Market capitalization Q3 2025 | $70B | | --- | --- | | Net debt to AFFO Q3 2025 TTM | 0.5x | | Oil sands reserve life index | 2024 25 yrs | | Upgrading capacity | 556 kbpd | ...
Global Medical REIT(GMRE) - 2025 Q3 - Earnings Call Presentation
2025-11-05 14:00
St. Joseph's Medical Plaza – Tucson, AZ THIRD QUARTER 2025 EARNINGS SUPPLEMENTAL www.globalmedicalreit.com NYSE: GMRE TABLE OF CONTENTS Legent Hospital for Special Surgery – Plano, TX | Company Overview | 3 | | --- | --- | | Select Quarterly Financial Data | 6 | | Business Summary | 7 | | Acquisitions / Dispositions | 8 | | Portfolio Summary | 9 | | Key Tenants | 11 | | Debt and Hedging Summary | 12 | | Total Capitalization and Equity | 14 | | Summary | | | Condensed Consolidated | 15 | | Statements of Oper ...
Summit Hotel Properties(INN) - 2025 Q3 - Earnings Call Presentation
2025-11-05 14:00
Financial Performance - Net loss attributable to common stockholders was $(11301) thousand for the three months ended September 30, 2025, compared to $(4272) thousand in 2024[13] - Net loss per diluted share was $(011) for the three months ended September 30, 2025, compared to $(004) in 2024[13] - Total revenues were $177117 thousand for the three months ended September 30, 2025, slightly up from $176807 thousand in 2024[13] - Adjusted EBITDAre decreased to $39263 thousand for the three months ended September 30, 2025, from $45340 thousand in 2024[13] - Adjusted FFO was $21253 thousand for the three months ended September 30, 2025, compared to $27610 thousand in 2024[13] Pro Forma Operating Results - Pro forma total revenues for the three months ended September 30, 2025, were $177117 thousand, compared to $182537 thousand in 2024[30] - Pro forma hotel EBITDA was $54118 thousand for the three months ended September 30, 2025, down from $62180 thousand in 2024[30] - Pro forma hotel EBITDA margin decreased to 306% for the three months ended September 30, 2025, from 341% in 2024[30] - RevPAR decreased by (42)% for the three months ended September 30, 2025[13] Capitalization - Market value of common equity at quarter end was $668748 thousand as of September 30, 2025[35] - Consolidated total debt was $1433483 thousand as of September 30, 2025[35]