Core Insights - Farmland Partners Inc. is a real estate investment trust focused on acquiring and leasing high-quality North American farmland [1] Investment Performance - The stock price of Farmland Partners has decreased from approximately $10.23 per share ten years ago to $10.02 currently, resulting in a decline in investment value from $10,000 to $9,795 [2] - Over the past decade, the company has paid approximately $4.52 in dividends per share, totaling about $4,418 in dividends for a $10,000 investment [3] - The total value of the investment, combining stock depreciation and dividends, would be $14,213, representing a total return of 42.13%, significantly lower than the S&P 500's total return of 324.20% during the same period [4] Future Outlook - Analysts have a consensus rating of "Buy" for Farmland Partners, with a price target of $15.50, indicating a potential upside of over 54% from the current stock price [5] Financial Performance - In Q3 2025, Farmland Partners reported funds from operations (FFO) of $0.07, exceeding the consensus estimate of $0.05, and revenues of $11.25 million, surpassing the consensus of $10.59 million [6] - The CEO highlighted a strong financial performance and an improved full-year forecast, despite challenges in foreign trade affecting U.S. agriculture [7]

Core Viewpoint - BRT Apartments Corp. has filed its quarterly report for Q3 2025, highlighting its operations and financial performance as a real estate investment trust focused on multi-family properties [1] Company Overview - BRT Apartments Corp. is a real estate investment trust that owns, operates, and holds interests in joint ventures related to multi-family properties [1] - As of November 6, 2025, the company owns or has interests in 31 multi-family properties comprising 8,311 units across 11 states [1] - The company also has preferred equity investments in two additional multi-family properties [1] Financial Reporting - The quarterly report on Form 10-Q for the quarter ended September 30, 2025, has been filed with the Securities and Exchange Commission [1] - Financial statements and supplemental information are available on the company's investor relations website under "Financials – Quarterly Results" [1]

Core Points - Acadia Realty Trust has announced a cash dividend of $0.20 per common share for the quarter ended December 31, 2025 [1] - The dividend is payable on January 15, 2026, to shareholders on record as of December 31, 2025 [1] - Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth [1]

Core Insights - One Liberty Properties, Inc. has transformed its portfolio towards industrial properties, with approximately 80% of its Annual Base Rent (ABR) generated from this sector as of the quarter end [2][7] - The company has completed and plans to complete approximately $189 million in acquisitions in 2025, significantly scaling its industrial platform through capital recycling from non-core asset sales [2][7] - The company reported a net income of $10.5 million for the quarter ended September 30, 2025, representing a 102.4% increase year-over-year [5][26] Operating Results - Net income attributable to One Liberty Properties, Inc. was $10,478,000 for Q3 2025, compared to $5,177,000 in Q3 2024, marking a 102.4% increase [5][26] - The diluted net income per share increased to $0.48 from $0.23, a rise of 108.7% [5][26] - Funds from Operations (FFO) decreased slightly by 1.5% to $9,057,000, while Adjusted Funds from Operations (AFFO) increased by 1.7% to $10,072,000 [5][26] Key Transactions - The company completed the sale of four non-core properties during the quarter, generating net proceeds of $16.3 million and a gain of $9.1 million [7][13] - Subsequent to the quarter end, One Liberty acquired an industrial property for $23 million and agreed to acquire a six-building industrial portfolio for $53.5 million [7][15][17] - The company also completed the sale of a non-core asset for net proceeds of approximately $17.7 million [7][16] Financial Metrics - Total assets at quarter end were $802.3 million, with total debt of $458.7 million and total stockholders' equity of $305.6 million [11][24] - The company had $18.8 million in cash and cash equivalents, with available liquidity of approximately $109.4 million as of October 31, 2025 [11][24] - Rental income for Q3 2025 was reported at $23.8 million, up from $22.2 million in Q3 2024, reflecting the impact of acquisitions and dispositions [26]

Core Points - Strawberry Fields REIT, Inc. declared a cash dividend of $0.16 per share, payable on December 30, 2025, to stockholders of record as of December 16, 2025 [1] Company Overview - Strawberry Fields REIT, Inc. is a self-administered real estate investment trust focused on the ownership, acquisition, development, and leasing of skilled nursing and healthcare-related properties [2] - The company's portfolio consists of 142 healthcare facilities with over 15,500 beds, located across multiple states including Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee, and Texas [2] - The facilities include 130 skilled nursing facilities, 10 assisted living facilities, and 2 long-term acute care hospitals [2]

Core Insights - American Healthcare REIT, Inc. announced strong third quarter results for 2025 and increased its full-year guidance, reflecting solid organic growth and favorable market conditions in the long-term care sector [1][3][4]. Financial Performance - The company reported a GAAP net income of $55.9 million, or $0.33 per diluted share, for Q3 2025, compared to a loss in the same period of 2024 [6][32]. - Normalized Funds from Operations (NFFO) for Q3 2025 were $0.44 per diluted share, indicating a robust performance [6]. - Total portfolio Same-Store Net Operating Income (NOI) grew by 16.4% in Q3 2025 compared to Q3 2024, with senior housing operating properties (SHOP) and integrated senior health campuses (ISHC) achieving growth rates of 25.3% and 21.7%, respectively [6][7]. Capital Allocation and Transactions - The company closed approximately $210.8 million in acquisitions during Q3 2025, bringing the total for the year to over $575 million [6][9]. - A significant acquisition included the purchase of a 51% interest in a joint venture with five pre-stabilized campuses for approximately $118.4 million [9]. - The company has over $450 million in awarded deals within its investment pipeline, expected to close by the end of 2025 or early 2026 [8]. Guidance and Outlook - The company increased its total portfolio Same-Store NOI growth guidance for 2025 from a range of 11.0%-14.0% to 13.0%-15.0% [6][15]. - NFFO guidance was raised by $0.045 at the midpoint, now ranging from $1.69 to $1.72 per diluted share, reflecting improved expectations for NOI growth [6][15]. - The company anticipates continued demand tailwinds in the long-term care sector, supported by record move-in activity [7][14]. Development and Expansion - Ten new development and expansion projects were initiated during Q3 2025, with a total expected cost of approximately $176.9 million [11]. - As of September 30, 2025, the company had spent $51.8 million on these projects [11]. Balance Sheet and Liquidity - The company's total consolidated indebtedness was $1.54 billion, with total liquidity of approximately $997.3 million [12]. - The Net Debt-to-Annualized Adjusted EBITDA improved to 3.5x as of September 30, 2025, down from 3.7x [6][12].

Core Viewpoint - Strawberry Fields REIT, Inc. reported strong operating results for Q3 2025, highlighting significant growth in rental revenues and funds from operations, driven by strategic acquisitions and lease renewals [1][3][5]. Financial Highlights - Total rental revenues increased by $10.3 million or 35% compared to Q3 2024, primarily due to the acquisition of 27 additional properties and a new master lease in Kentucky [5][10]. - Funds from Operations (FFO) for Q3 2025 was $20.7 million, up from $15.2 million in Q3 2024, while Adjusted Funds from Operations (AFFO) rose to $18.1 million from $14.3 million [5][23]. - Net income increased to $8.9 million in Q3 2025 from $6.9 million in Q3 2024, attributed to higher rental income and property acquisitions [9][13]. Acquisitions and Growth Strategy - The company completed several key acquisitions, including nine skilled nursing facilities in Missouri for $59 million, which are expected to generate an additional $5.5 million in annual rents [7]. - Additional acquisitions included a skilled nursing facility in Oklahoma for $4.25 million and a healthcare facility in Missouri for $5.3 million, both contributing to increased rental income [7]. Expense Overview - Depreciation and amortization expenses increased by $3.5 million or 42% due to new property acquisitions, partially offset by reduced depreciation from fully depreciated assets [6][11]. - Interest expense rose by $4.4 million or 51%, primarily due to new commercial bank loans and bond issuances [8][12]. Year-to-Date Performance - For the nine months ended September 30, 2025, total rental revenues increased by $28.3 million or 33% compared to the same period in 2024 [10]. - Year-to-date FFO was $58.9 million, up from $44.6 million in the previous year, with AFFO increasing to $53.4 million from $41.6 million [23].

Company Overview - National Health Investors, Inc. (NHI) is a self-managed real estate investment trust established in 1991 [1] - The company specializes in sale-leaseback, joint venture, mortgage, and mezzanine financing of need-driven and discretionary senior housing and medical facility investments [1] Dividend Announcement - NHI announced a fourth quarter dividend of $0.92 per common share [1] - The dividend will be paid on January 30, 2026, to stockholders of record as of December 31, 2025 [1]

Core Insights - National Health Investors, Inc. (NHI) reported strong financial results for Q3 2025, with a notable year-over-year growth in Same Store Senior Housing Operating Portfolio (SHOP) Net Operating Income (NOI) of approximately 63% [2][3] - The company has made significant acquisitions, including a $74.3 million investment that is expected to more than double its SHOP NOI, and has surpassed last year's investment activity with $303.2 million announced to date [3][4] - NHI has updated its full-year guidance for 2025, reflecting a positive outlook for continued growth and a strong balance sheet that provides ample access to capital [4][6] Financial Performance - For the three months ended September 30, 2025, net income attributable to common stockholders was $0.69 per diluted share, an increase from $0.65 per share in the same period last year [5][38] - NAREIT Funds From Operations (FFO) per diluted share for Q3 2025 was $1.09, compared to $1.03 in the prior year, while Normalized FFO per diluted share increased to $1.32 from $1.03 [5][38] - Normalized Funds Available for Distribution (FAD) for Q3 2025 was $62.2 million, up from $49.4 million in the same period last year [7] Acquisitions and Growth Strategy - NHI's recent acquisition activities include a $74.3 million investment in four properties in Oklahoma and Oregon, and a $52.5 million investment in a 251-unit continuing care retirement community in South Carolina [6][9] - The company has a robust pipeline of investment opportunities, with approximately $195.3 million under signed Letters of Intent (LOI) and an additional $154.0 million currently being evaluated [17][22] Balance Sheet and Liquidity - As of September 30, 2025, NHI had $1.1 billion in net debt and maintained a net debt to adjusted EBITDA ratio of 3.6x, below its target range of 4.0x - 5.0x [11][14] - The company issued $350 million in senior notes during Q3 2025, which were used to repay existing indebtedness, and extended the maturity of its bank term loan by six months [13][14] Guidance and Future Outlook - NHI has increased its guidance for the full year 2025, with expectations for Same Store SHOP NOI growth in the range of 7% - 9% year-over-year and continued collection of deferred rents [6][22] - The company anticipates significant organic upside from its Same Store SHOP portfolio, with NOI growth expected to return to double-digit levels in 2026 [3][4]

Core Viewpoint - Advanced Flower Capital Inc. has received shareholder approval to convert from a real estate investment trust (REIT) to a business development company (BDC), which is expected to enhance its growth potential and shareholder value [1][2]. Group 1: Conversion Details - The conversion plan includes a new investment advisory agreement compliant with the Investment Company Act of 1940 and reduced asset coverage requirements for BDCs, aligning the company's leverage with industry standards [1]. - The conversion is anticipated to be completed in the first quarter of 2026, with the company continuing to trade under its existing Nasdaq ticker symbol, AFCG [3]. Group 2: Strategic Implications - The conversion to a BDC will enable the company to broaden its investment scope beyond real estate-backed loans, allowing it to pursue a wider range of market opportunities, which is expected to improve its ability to generate consistent, risk-adjusted returns [2]. Group 3: Company Background - Advanced Flower Capital Inc. specializes in originating, structuring, underwriting, and managing senior secured mortgage loans, particularly in the cannabis industry, with loans typically ranging from $10 million to over $100 million [4].