ORINDA, Calif., Sept. 30, 2025 (GLOBE NEWSWIRE) -- MacKenzie Realty Capital, Inc. (Nasdaq: MKZR) (“MacKenzie” or the “Company”) today announced its financial results for the year ended June 30, 2025 and announced its Aurora at Green Valley has been completed and is now 31% leased. Key Financial Highlights:Operating Results for the Year Ended June 30, 2025: Net revenues for year ended June 30, 2025, were $22.06 million, an increase of 40% from $15.74 million in the same period of 2024.Net operating loss was ...

Macerich (MAC) shares rallied 6.8% in the last trading session to close at $17.9. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.4% loss over the past four weeks.The increased investor optimism in the stock can be attributed to B of A Securities’ news of upgrading the Macerich’s stock rating from "neutral" to "buy”.This shopping center real estate investment trust is expected to post quarterly funds from o ...

Core Viewpoint - Ventas (VTR) has experienced a significant stock price increase of 16.3% year-to-date, outperforming the industry growth of 4.4% [1][8] Company Overview - Ventas possesses a diverse portfolio of healthcare real estate assets in key markets in the U.S. and the U.K., positioning it to benefit from favorable industry fundamentals [2] - The senior housing operating portfolio (SHOP) is expected to gain from the aging population and increased healthcare spending by seniors [2] - The outpatient medical portfolio is anticipated to benefit from positive trends in outpatient visits [2] Financial Performance - The company has seen a 13.3% year-over-year growth in same-store cash NOI within the SHOP portfolio for Q2 2025 [5][8] - As of Q2 2025, Ventas reported liquidity of $4.7 billion, with net debt to EBITDA improving to 5.6X [8][10] - The Zacks Consensus Estimate for Ventas' 2025 FFO per share has been slightly revised upward to $3.46 over the past two months [3] Strategic Initiatives - Ventas is actively rebalancing its portfolio, which is expected to drive future revenue growth [3] - The company has expanded its operator base from 10 to 36 since December 2020, enhancing its growth potential in high-demand markets [5] - A disciplined capital-recycling strategy is in place, allowing the company to dispose of non-core assets and reinvest in premium acquisitions [9] Market Trends - The senior citizen population is projected to increase, providing a multi-year growth opportunity in senior housing [4] - The healthcare sector is relatively insulated from macroeconomic uncertainties, offering stability during economic downturns [4] - The growing population aged 65 and above is contributing to an increase in outpatient visits, which the outpatient medical and research (OM&R) portfolio is well-positioned to capitalize on [6]

Core Viewpoint - Prologis Inc. is experiencing a favorable shift in market dynamics, with a notable increase in the conversion of new lease proposals into signed contracts during the third quarter, indicating improved tenant confidence [1][2]. Market Dynamics and Growth Drivers - Bank of America analyst Samir Khanal highlighted a crucial change in tenant decision-making, leading to a more optimistic outlook on Prologis, resulting in an upgrade of the stock rating to Buy and a price forecast increase from $118 to $130 [2]. - Corporate hesitation is easing after months of uncertainty, allowing Prologis to leverage its substantial 130 million square feet leasing pipeline, which had previously been stalled [3]. - The industrial real estate market is projected to see a 20% year-over-year decline in new industrial warehouse space deliveries by 2026, which will be over 60% below the peak levels of 2023 [4]. Leasing Momentum and Supply Constraints - The reduction in new supply is expected to relieve pressure on occupancy rates and rents, creating a favorable environment for Prologis to convert its extensive pipeline into new leases [5]. - Analysts anticipate that the combination of pent-up demand and a significant slowdown in new deliveries will lead to stronger leasing momentum through 2026 [5]. Long-Term Outlook - Prologis is well-positioned for sustained growth, with analysts projecting high single-digit annual FFO growth in a normalized environment, supported by various drivers such as rent escalators, market rent growth, data center conversions, new developments, and transactions [6]. - The stock has become increasingly attractive to income-focused investors, with its distribution yield rising to over 3.5%, up from the previous range of 2.5–3% [7].

Core Insights - Realty Income's expansion in Europe is a key component of its global growth strategy, with Europe accounting for 76% of the Q2 2025 investment volume at a 7.3% weighted average initial cash yield [1][8] - The company has established a significant presence in eight European countries since entering the U.K. in 2019, contributing 17% to the annualized base rent [1][8] - Management cites a fragmented competitive landscape, a larger addressable market, and lower borrowing costs as advantages for continued capital deployment in Europe [1] European Market Focus - Poland has emerged as a crucial new market, with Realty Income completing sale-leaseback transactions with Eko-Okna, benefiting from Poland's strong economic fundamentals and the second-fastest GDP growth in Europe [2] - The company focuses on industrial and distribution assets, reflecting disciplined underwriting and a preference for stable cash flows from essential industries [2] Retail Parks and Financial Advantages - In the U.K. and Ireland, Realty Income has become the largest owner of retail parks, benefiting from improving leasing conditions as concession rents fade and vacancies decline [3] - The company has access to euro-denominated debt markets, with a €1.25 billion issuance at an all-in cost of 3.69%, enhancing acquisition spreads and providing natural hedging [3] Future Growth and Valuation - Nearly half of Realty Income's volume is sourced from Europe, expected to be a key driver of future acquisitions and rental income due to the company's strong market presence [4] - Realty Income trades at a forward 12-month price-to-FFO of 13.84, which is below the industry average, and carries a Value Score of D [9] - The Zacks Consensus Estimate for Realty Income's funds from operations per share has been revised marginally downward for 2025 and 2026 [10]

Core Insights - Gladstone Commercial (GOOD) has executed a 10-year, one-month lease extension with JBT Marel Corporation for a 67,200 square foot industrial building in Chalfont, PA, marking the third extension since the original purchase [1][3][7] - JBT Marel is a global technology solutions provider for the food and beverage sector, focusing on design, production, and servicing of products and systems, including automated guided vehicle systems for various applications [2] - The lease extension indicates JBT Marel's long-term commitment to the facility, securing a reliable tenant for Gladstone and enhancing portfolio stability [3] Company Performance - Over the past month, shares of Gladstone Commercial have declined by 4%, contrasting with the industry's growth of 2.5% [4] - The Zacks Consensus Estimate for Plymouth Industrial REIT's 2025 FFO per share has increased by 2 cents to $1.88, while Crown Castle's estimate has moved up by 3 cents to $4.21 [5][8]

Core Insights - Piedmont Realty Trust (PDM) has completed over 500,000 square feet of leases, with more than 400,000 square feet from new tenants in Q3 through September 9, 2025 [1][7] - The company is experiencing strong leasing activity, particularly in Minneapolis and the Sunbelt regions, with a goal to lease between 2.2 and 2.4 million square feet by 2025 [3][7] - The leasing of nearly 85% of new tenant leases pertains to previously vacant spaces, contributing to a significant increase in occupancy and rental income [2] Leasing Activity - Year-to-date leasing volume has exceeded 1.5 million square feet, indicating robust demand [2] - The out-of-service portfolio is now over 50% leased, with approximately 178,000 square feet of new tenant leases related to this segment [2] Management Commentary - The CEO, Brent Smith, noted that July and August 2025 saw record levels of tenant demand, with five leases signed for full floors, showcasing the appeal of renovated buildings [3] - The company remains well-positioned to navigate market challenges, supported by long-term leases with creditworthy tenants [4] Stock Performance - Over the past three months, shares of Piedmont Realty Trust have increased by 11.5%, outperforming the industry growth of 0.3% [4]

Financial Performance - Total assets decreased by 1.4% to $2.6 billion in FY25 compared to FY24[7] - Statutory profit increased by $267.9 million to $26.9 million in FY25[7] - Funds From Operations (FFO) increased by 1.7% to $82.7 million in FY25 from continuing operations[7] - FFO per security increased by 1.7% to 9.26 cents per security (cps) in FY25 from continuing operations[7] - Distribution per security (DPS) remained flat at 8.50 cps in FY25, with 50% fully franked compared to 25% in FY24[7] Portfolio Metrics - Weighted Average Cap Rate (WACR) increased by 27 bps to 6.77% in FY25[7] - Gearing increased by 70 bps to 34.5% in FY25[7] - Net Tangible Assets (NTA) decreased by 2.3% to $1.72 per security in FY25[7] - Occupancy increased by 30 bps to 92.1% on a like-for-like (LFL) basis in FY25[7] - The commercial portfolio's investment property value decreased from $1.885 billion to $1.802 billion, with WACR increasing from 6.50% to 6.77%[25] Operational Highlights - Office LFL rent growth was +4.3%[9] - Retail LFL rent growth was +3.5% with a strong occupancy of 95.5%[9] - ASK (Abacus Storage King) NTA growth was +10.1%, with a $16.8 million equity return on ASK investment, up 4.3%[9] - Income growth from management fees was +13.9%, totaling $19.6 million from Self Storage and Commercial[9]

Core Insights - Welltower's shares have increased by 28.9% year-to-date, significantly outperforming the industry's growth of 1.7% [1][8] Company Overview - Welltower owns a diversified portfolio of healthcare real estate assets across the U.S., Canada, and the U.K., positioning itself to benefit from the aging population and rising healthcare expenditures among senior citizens [2] - The company has a healthy balance sheet and is focused on portfolio repositioning, which is expected to support future growth [2] Financial Performance - In Q2 2025, Welltower reported a normalized FFO per share of $1.28, exceeding the Zacks Consensus Estimate of $1.22, and reflecting a year-over-year increase of 21.9% [3][8] - The total portfolio's same-store net operating income (SSNOI) grew significantly, driven by the SHO portfolio, marking the 11th consecutive quarter of over 20% year-over-year growth in SHO SSNOI [5][8] - The guidance for 2025 normalized FFO per share has been raised, with the Zacks Consensus Estimate now at $5.06 [4] Market Trends - The senior citizen population is projected to rise, leading to increased healthcare expenditures, which is favorable for Welltower's SHO portfolio [5] - The industry is experiencing muted new supply, which is beneficial for Welltower's revenue growth prospects [5] Strategic Initiatives - Welltower is enhancing its SHO portfolio through strategic acquisitions and capital recycling, with $2.08 billion allocated for 78 SHO properties from the beginning of the year through July 28, 2025 [6] - The company is also optimizing its outpatient management (OM) portfolio and strengthening relationships with health system partners to support long-term growth [9] Acquisition Activity - In March 2025, Welltower announced plans to acquire the Amica Senior Lifestyles portfolio for C$4.6 billion, and in February 2025, it acquired 48 skilled nursing facilities for $990.9 million [10] Financial Health - As of June 30, 2025, Welltower had $9.5 billion in available liquidity, including $4.5 billion in cash and a fully utilized $5 billion line of credit, indicating strong financial flexibility [11] - The net debt to adjusted EBITDA ratio improved to 2.93X from 3.68X year-over-year, with a well-laddered debt maturity profile averaging 5.8 years [11]

Core Insights - AvalonBay Communities (AVB) is positioned to benefit from strong renter demand in high barrier-to-entry regions of the U.S. and is leveraging technology for margin expansion [1][4] - The company reported a second-quarter 2025 core FFO per share of $2.82, exceeding estimates and reflecting a 1.8% year-over-year increase [3][9] - AvalonBay's strategic acquisitions and development projects, supported by a healthy balance sheet, are expected to drive long-term growth [1][5][6] Financial Performance - In Q2 2025, AvalonBay's core FFO per share was $2.82, beating the Zacks Consensus Estimate of $2.80, with a 1.8% increase from the previous year [3][9] - The company revised its full-year 2025 outlook, anticipating higher same-store net operating income (NOI) despite the impact of delayed occupancies [3][9] - AvalonBay's total debt was approximately $8.71 billion as of June 30, 2025, with interest expenses rising 13.5% year-over-year to $64.8 million in Q2 2025 [10] Market Position and Strategy - AvalonBay focuses on high-quality assets in top U.S. markets with strong job growth and high homeownership costs, aiming for superior long-term risk-adjusted returns [4] - The company plans to increase its suburban submarket allocation from 73% to 80% and its expansion region allocation from 12% to 25% [5] - Management expects same-store residential revenues to grow between 2.3% and 3.3% year-over-year in 2025 [4] Balance Sheet and Liquidity - As of June 30, 2025, AvalonBay had no borrowings under its $2.25 billion unsecured credit facility and maintained a well-laddered debt maturity schedule with an average maturity of 6.8 years [6][7] - The company’s annualized net debt-to-core EBITDA ratio was 4.4 times, with unencumbered NOI at 95%, allowing for potential secured debt capital access [6][7] Dividend Policy - AvalonBay has consistently paid dividends since going public in 1994, increasing its first-quarter 2025 dividend to $1.75 per share, a 2.9% increase from the previous quarter [8] - The company’s strong operating fundamentals and financial position suggest that the dividend rate is sustainable in the coming years [8] Industry Context - The U.S. apartment market showed resilience in Q2 2025, absorbing over 227,000 units, indicating strong renter demand despite economic uncertainties [11][12] - This positive trend is beneficial for residential REITs like AvalonBay, which are experiencing solid demand for professionally managed apartments [12]