Corporate Information & Analyst Coverage | Key Management | | | --- | --- | | Andrew Spodek | Chief Executive Officer | | Jeremy Garber | President, Treasurer & Secretary | | Steve Bakke | Chief Financial Officer | | Board of Directors | Board Responsibilities | | Patrick Donahoe | Chair of the Board, Member - Audit Committee | | Andrew Spodek | Chief Executive Officer, Director | | Barry Lefkowitz | Chair of Audit Committee, Member - Corporate Governance & Compensation Committee | | Anton Feingold | Chair ...

investors and management to evaluate the period-to-period performance of our hotels and facilitates comparisons with other hotel REITs and hotel owners. In particular, these measures assist management and investors in distinguishing whether increases or decreases in revenues and/or expenses are due to growth or decline of operations at Same-Property hotels or from other factors, such as the effect of acquisitions or dispositions.FFO and Adjusted FFOThe Company calculates FFO in accordance with standards est ...

Scentre Group (SCG.AX) reported fiscal 2025 Funds From Operations or FFO of A$1.19 billion, up 4.9% from prior year. Funds From Operations per security, in cents, was 22.82 compared to 21.82. Distributions for the period was A$923 million or 17.72 cents per security, up 3.4%. Statutory profit for the period was A$1.78 billion. For the 12 months to 31 December 2025, net operating income was A$2.10 billion, an increase of 3.7% from last year. Like-for-like growth in net operating income was 4.8%. During 2025 ...

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the fourth quarter and full year ended December 31, 2025. Executive Chairman Remarks "During 2025, we made significant progress executing on our strategy to diversify the Company's portfolio, strengthen our balance sheet, and actively resolve tenant-related matters," said Alan Gold, Executive Chairman of IIP. "Our strategic investment in IQHQ and establishment of a new $100 mi ...

Fourth Quarter 2025 Investor Presentation The Collection at Forsyth | Cumming, GA Highlights Q4 2025 Highlights | Core FFO Per Share | | --- | | Implied property value per square foot | | Square feet of comparable leasing 167,000 activity | | 31% Comparable leasing spread | | ABR from Georgia, Florida, North Carolina & Texas | | Leased Occupancy – 490 bps spread to 91.0% occupancy | | SNO Pipeline – 5.8% of in-place ABR | | Cash ABR PSF | | Quarterly same-property NOI growth 4.3% for shopping centers | | $0 ...

Core Insights - Strawberry Fields REIT, Inc. reported its best operating results since inception, with significant growth in funds from operations (FFO) and rental revenues in 2025 compared to 2024 [5][6]. Financial Performance - FFO for 2025 was $79.6 million, up from $60.2 million in 2024, representing a growth of 32% [6][25]. - FFO per share increased to $1.43 from $1.15, marking a 24% rise [6][25]. - Adjusted FFO (AFFO) was $72.5 million, compared to $55.8 million in 2024, reflecting a 30% increase [6][25]. - AFFO per share rose to $1.30 from $1.07, a 21% increase [6][25]. - Net income increased to $33.3 million from $26.5 million, driven by higher rental revenues [11][21]. Revenue Growth - Rental revenues increased by $37.9 million, or 32.4%, compared to 2024, primarily due to new leases and acquisitions [6][11]. - The new Kentucky Master Lease contributed $13.1 million to the revenue growth, alongside contributions from acquisitions in Missouri, Kansas, and other states [6][11]. Acquisitions and Leases - The company entered into a new master lease for 10 properties in Kentucky with an annual base rent of $23.3 million, subject to CPI adjustments [4]. - Acquisitions included six facilities in Kansas for $24 million, nine skilled nursing facilities in Missouri for $59 million, and additional properties in Oklahoma and Missouri, totaling over $90 million in investments [4][6]. Expenses - Depreciation expense rose by $6.7 million, or 23.2%, due to new real estate investments [7]. - General and administrative expenses increased by $1.8 million, or 25.6%, primarily from higher payroll costs [8]. - Interest expense increased by $16 million, or 49.1%, mainly due to new bond issuance and additional notes payable [10]. Future Outlook - The company plans to pursue accretive deals while maintaining a disciplined acquisition strategy to sustain growth [5]. - The CEO expressed optimism about the investor perception of the senior housing sector and hopes for the stock price to reflect the company's strengths [5].

Valued at a market cap of $15.8 billion, Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust (REIT) that owns, acquires, develops, manages and redevelops multifamily apartment communities. Headquartered in Germantown, Tennessee, the company focuses on high-growth metropolitan areas in the Southeast, Southwest, and Mid-Atlantic, targeting middle- to upper-income renters. This residential REIT has considerably underperformed the broader market over the past 52 weeks. Shares of M ...

GUIDANCE PRESENTATION 2026 2026 OUTLOOK: CONTINUED OPERATIONS | $ IN MILLIONS | | | | --- | --- | --- | | | LOW | HIGH | | RETAIL NOI | $68.5M | $70.0M | | OFFICE NOI | $58.5M | $60.0M | | EQUITY METHOD INVESTMENT ("EMI") PROPERTY INCOME(1) | $3.4M | $3.9M | | ACQUISITION NOI | $1.0M | $1.7M | | TOTAL COMMERCIAL NOI | $131.4M | $135.6M | | G&A EXPENSES | -$19.7M | -$18.7M | | INTEREST EXPENSE | -$57.2M | -$54.2M | | OTHER NOI(2) | $8.9M | $9.9M | | PREFERRED STOCK DIVIDENDS | -$11.5M | -$11.5M | | PRO FORMA ...

INDIANAPOLIS, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Kite Realty Group (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored shopping centers and vibrant mixed-use assets, reported today its operating results for the fourth quarter and year ended December 31, 2025. For the quarters ended December 31, 2025 and 2024, net income attributable to common shareholders was $180.8 million, or $0.84 per diluted share, compared to $21.8 million, or $0.10 per diluted share, respectively. For t ...

Financial Data and Key Metrics Changes - Sabra's normalized FFO per share for Q4 2025 was $0.36, and normalized AFFO per share was $0.38, totaling $91.2 million and $95.2 million respectively for the quarter [12][15] - Cash NOI from the triple net portfolio decreased by $1.3 million sequentially, while cash NOI from the managed senior housing portfolio increased by $5.5 million, resulting in a net increase of $4.2 million [12][13] - The net debt to adjusted EBITDA ratio was 5.00 times as of December 31, 2025, a decrease of 0.27 times from the previous year [17] Business Line Data and Key Metrics Changes - The managed senior housing portfolio experienced a revenue growth of 15.8% and cash NOI growth of 18.4%, with margin expansion of 60 basis points [8] - The same-store managed senior housing portfolio saw a revenue increase of 6.4% year-over-year, with occupancy rising by 160 basis points to 87.9% [10] - The skilled nursing portfolio achieved an all-time high in rent coverage and increased occupancy [7] Market Data and Key Metrics Changes - The Canadian communities within the same-store portfolio grew revenue by 10% year-over-year, with occupancy increasing by 300 basis points to 94.2% [10] - The domestic portfolio occupancy increased by 80 basis points to 84.7% during the same period [10] Company Strategy and Development Direction - The company expects strong NOI growth for the SHOP portfolio in 2026, with guidance for normalized FFO and AFFO growth at 4.9%-5.4% [5] - Sabra's investment activity is projected to exceed the volume of 2025 investments, with a robust pipeline and $240 million of awarded deals expected to close in Q1 and early Q2 2026 [6][9] - The company continues to focus on SHOP investments, which represent approximately 95% of the investment opportunities being pursued [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational performance and growth prospects, citing industry tailwinds and a robust pipeline [10] - The regulatory environment remains stable, and management does not foresee significant changes impacting operations [7][82] - The company anticipates continued occupancy growth in the same-store portfolio, aiming for low 90s occupancy levels [24] Other Important Information - The board declared a quarterly cash dividend of $0.30 per common share, representing a payout of 79% of the fourth quarter normalized AFFO per share [20] - The company has ample liquidity of approximately $1.2 billion, consisting of cash and available borrowings [19] Q&A Session Summary Question: Can you provide insights on same-store growth and long-term prospects? - Management expects continued occupancy growth in the same-store portfolio, aiming for low 90s occupancy levels, with potential for rate growth [24][25] Question: What is the status of the RCA loan and tenant health? - The RCA loan is being serviced appropriately, and discussions with the equity sponsor are ongoing, indicating tenant health is stable [27][30] Question: What are the expectations for maintenance CapEx in 2026? - Maintenance CapEx is expected to remain at similar levels, with non-maintenance CapEx projected in the $20-$30 million range [32] Question: How is the investment landscape changing? - The investment activity is significantly weighted towards SHOP, with continued competition but opportunities for high-quality assets at good yields [58] Question: What is the outlook for occupancy growth in Canada? - The Canadian portfolio is expected to continue its growth trajectory, with lower construction rates compared to the U.S. market [52] Question: How does the company view the complexity of operating in the SHOP space? - Management acknowledges the complexities of operating in the SHOP space, emphasizing the importance of experienced operators and continuous improvement in management practices [88][91]