Core Viewpoint - Rithm Capital Corp. (RITM) has demonstrated a strong ability to generate earnings available for distribution (EAD) that exceed its ongoing dividend payouts, establishing itself as a core holding in the mortgage REIT sector as it continues to expand its platform [1] Group 1: Company Performance - RITM's significant EAD generation positions it favorably within the mortgage REIT market, indicating robust financial health and growth potential [1] Group 2: Market Strategy - The equity market serves as a mechanism for wealth creation or destruction over the long term, with Pacifica Yield focusing on long-term wealth creation through investments in undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

Company Overview - Digital Realty Trust, Inc. (NYSE:DLR) is a significant player in the real estate investment trust (REIT) sector, focusing on data centers that support global digital infrastructure [1] - The company competes with major REITs such as Equinix and CyrusOne, aiming to meet the growing demand for data storage and processing [1] Analyst Ratings and Price Targets - Cowen & Co. has maintained a "Hold" rating for Digital Realty, with the stock currently priced at $164.65, while TD Cowen raised its price target from $179 to $185, indicating a positive outlook [2][5] - The consensus recommendation from twenty-six ratings firms is a "Moderate Buy," with an average 12-month price target of approximately $193.21 [2][5] - Among analysts, nine have rated DLR as a hold, fifteen recommend buying, and two suggest a strong buy [3] Stock Performance - DLR's current stock price is $164.65, reflecting a decrease of 1.28% or $2.14, with trading between $162.61 and $167.89 on the day [4] - Over the past year, the stock reached a high of $182.48 and a low of $129.95 [4] - The market capitalization of DLR is approximately $56.56 billion, underscoring its significant position in the REIT sector [4][5]

Financial Data and Key Metrics Changes - FFO per share for 2025 was $2.72, exceeding initial guidance by $0.06 and representing a 5.8% increase over 2024 [3][24] - Same Property Cash NOI increased by 4.1% year-over-year, driven by a 40 basis point increase in average occupancy [3][24] - Same Property occupancy ended the year at 94.2%, aligning with updated guidance [25] Business Line Data and Key Metrics Changes - Executed 557,000 sq ft of vacancy leasing, exceeding initial targets by 40% [12][14] - In the defense IT portfolio, 424,000 sq ft of leasing was executed, surpassing the 400,000 sq ft goal [14] - Tenant retention for the year was 78%, with cash rent spreads up 1.1% [16] Market Data and Key Metrics Changes - The defense budget for FY 2026 was signed at $841 billion, marking a 15% year-over-year increase [7][8] - The company expects continued growth in demand from government and contractors due to the increasing defense budget [9] Company Strategy and Development Direction - The company committed $278 million to new investments, with projects 81% pre-leased [3][4] - A strong pipeline of development opportunities is anticipated, particularly in the Huntsville area, with significant growth expected from the Golden Dome Initiative [9][19] - The company aims for a vacancy leasing target of 400,000 sq ft for 2026, despite limited unleased space [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth, projecting FFO per share guidance for 2026 at $2.75, reflecting a 1.1% increase over 2025 [6][27] - The company anticipates strong tenant retention and a solid development pipeline, with a focus on maintaining liquidity and self-funding investments [33][34] Other Important Information - The company reported a conservative approach to capital expenditures, with an AFFO payout ratio forecasted to be under 65% in 2026 [28] - The company has a long runway for development in Huntsville, with 3 million sq ft of potential development capacity remaining [67] Q&A Session Summary Question: Development pipeline opportunities related to Golden Dome - Management indicated that many prospects are related to Golden Dome, with expectations for larger requirements as contracts are awarded [38][39] Question: Tenant retention and reasons for non-renewals - Non-renewals are typically smaller tenants needing different space sizes, with a historical retention rate of 80% [40] Question: Mix of acquisitions and developments for additional investments - The company targets an 8.5% cash-on-cash yield for developments, with acquisitions considered opportunistic [44] Question: Equity issuance as a funding source - Equity issuance is a last alternative, with the company confident in handling expected development investments through internal cash generation [46] Question: Growth potential in Huntsville - The company has significant development runway in Huntsville, with ample land available for expansion [67] Question: Impact of the defense budget on leasing opportunities - Demand impact from the defense budget is expected to materialize 12-18 months after appropriations [72]

Core Insights - Ventas, Inc. (VTR) reported fourth-quarter 2025 normalized funds from operations (FFO) per share of 89 cents, matching the Zacks Consensus Estimate, and reflecting a 9.9% increase from the prior-year quarter [2][10] - The company achieved revenues of $1.57 billion in the fourth quarter, exceeding the Zacks Consensus Estimate of $1.50 billion, and marking a year-over-year increase of 21.7% [4][10] - Ventas provided guidance for 2026 normalized FFO per share in the range of $3.78-$3.88, with total same-store cash NOI growth projected between 8.5% and 10.5% [11] Financial Performance - In Q4 2025, same-store cash net operating income (NOI) for the total property portfolio increased by 7.8% to $486.3 million year over year [6] - The senior housing operating portfolio (SHOP) saw a significant increase in same-store cash NOI, climbing 15.4% year over year to $235.6 million, supported by a 4.7% growth in average monthly revenues per occupied room [6][7] - The outpatient medical and research (OM&R) portfolio's same-store cash NOI improved by 3.7% year over year to $140.1 million, while the triple-net leased properties' same-store cash NOI decreased by 1.3% to $110.5 million [7] Balance Sheet and Liquidity - Ventas ended Q4 2025 with cash and cash equivalents of $741.1 million, a significant increase from $188.6 million as of September 30, 2025 [8] - The company reported total liquidity of $5.3 billion, up from $4.1 billion as of September 30, 2025, with a net debt to further adjusted EBITDA ratio of 5.2 [8] 2026 Guidance - The company anticipates same-store cash NOI growth for the SHOP segment to be between 13% and 17%, while the OM&R portfolio is expected to see growth of 2-3% [11] - The investment volume for the senior housing segment is projected at $2.5 billion [12]

Results for 4 th Quarter + FY 2025 2026 Guidance FEBRUARY 5, 2026 Change Presentation Title on First Master Slide Table of Contents ACHIEVEMENTS OVER THE PAST 6 YEARS • Page 3 RESULTS FOR 4 TH QUARTER + FY 2025 • Page 4 2026 GUIDANCE • Page 7 FACTORS SUPPORTING GROWTH • Page 9 PORTFOLIO UPDATE • Page 15 CONCLUSION • Page 21 APPENDICES 2 2 • Page 25 • Safe Harbor | Page 26 • Definitions + Glossary | Page 27 • Reconciliations | Page 32 Achievements Over the Past Six Years1 • Increased Total Portfolio size by ...

Shoppes of Paradise Lakes | Miami, FL Suburb February 2026 Q4 2025 Earnings Presentation Safe Harbor and Non-GAAP Disclosures PECO's Safe Harbor Statement This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Privat ...

Group 1 - Managing a Real Estate Investment Trust (REIT) is challenging due to a dynamic investing environment [1] - Investing in net lease assets has become increasingly difficult, with significant volatility in interest rates and cap rates [1]

Our Space is Your Place EARNINGS PRESENTATION 4th Quarter 2025 RegencyCenters.com Anastasia Plaza St. Augustine, FL Risk Factors Related to Pandemics or other Public Health Crises Pandemics or other public health crises, may adversely affect our tenants' financial condition, the profitability of our properties, and our access to the capital markets and could have a material adverse effect on our business, results of operations, cash flows and financial condition. Risk Factors Related to Operating Retail-Bas ...

Core Insights - Cousins Properties (CUZ) reported fourth-quarter 2025 funds from operations (FFO) per share of 71 cents, marking a 2.9% year-over-year increase and aligning with the Zacks Consensus Estimate [1][10] - The company experienced strong leasing activity, although weighted average occupancy decreased, and interest expenses rose significantly [1][6][10] Financial Performance - Rental property revenues increased by 15% year over year to $253.3 million, exceeding the Zacks Consensus Estimate of $248.7 million, while total revenues grew 11.6% year over year to $255 million [2][10] - For the full year 2025, FFO per share was $2.84, up from $2.69 in the previous year, consistent with the Zacks Consensus Estimate [2] - Same-property rental property revenues on a cash basis rose 1.4% year over year to $198.7 million, while operating expenses increased by 3.8% to $73.1 million, leading to a marginal improvement in same-property net operating income [5] Leasing and Occupancy - In Q4, Cousins Properties executed leases for 700,000 square feet of office space, including 493,000 square feet of new and expansion leases [4] - The weighted average occupancy for the same-property portfolio was 87.4%, down 1.4% from the prior year, with the overall portfolio leased at 90.1%, a decrease from 91% year-over-year [5][6] Acquisitions and Sales - The company announced the acquisition of 300 South Tryon for $317.5 million, a fully leased lifestyle office property in Charlotte, NC, with a weighted average lease term of six years [3] - CUZ entered into agreements to sell Harborview Plaza in Tampa, FL, for $39.5 million and a land parcel in Charlotte, NC, for $23.7 million, with expected closing in 2026 [7] Balance Sheet and Outlook - At the end of Q4 2025, CUZ had cash and cash equivalents of $5.7 million, an increase from $4.7 million as of September 30, 2025 [8] - The net debt-to-annualized EBITDAre ratio was 5.30, down from 5.38 in the previous quarter, while fixed charges coverage improved to 3.52X [8] - For 2026, CUZ expects FFO per share to be in the range of $2.87-$2.97, with the Zacks Consensus Estimate currently at $2.92 [9]

Financial Data and Key Metrics Changes - The company reported a total revenue of $16.9 million for Q4 2025, with lease income of $12.7 million and interest income from commercial loan investments of $4 million [11] - FFO and AFFO attributable to common stockholders for the quarter were $0.54 per diluted share, representing a 22.7% growth over the comparable quarter of the prior year [11] - For the full year 2025, total revenue was $60.5 million, with FFO and AFFO attributable to common stockholders at $1.88 and $1.89 per diluted share, respectively, reflecting approximately 8.6% growth over the prior year [11][12] Business Line Data and Key Metrics Changes - The company acquired 8 properties for approximately $40 million in Q4 2025, contributing to a total of 13 properties acquired for $100.6 million in 2025 [4][5] - The weighted average initial cash cap rate for Q4 acquisitions was 6.9%, while the full year cap rate was 7.4% [5] - The commercial loan portfolio saw significant growth, with $177 million in loan originations for the full year at a weighted average initial coupon of 12% [7][8] Market Data and Key Metrics Changes - At year-end, the property portfolio consisted of 127 properties totaling 4.3 million sq ft across 32 states, with a WALT of 8.4 years and 99.5% occupancy [6] - 51% of the annual base rent (ABR) is now generated from investment-grade rated tenants, with Lowe's, Dick's Sporting Goods, and Walmart representing 29% of the ABR [6] Company Strategy and Development Direction - The company executed a strategic barbell approach to acquisitions, focusing on both investment-grade rated tenants and higher-yielding property investments [5] - The board decided to increase the quarterly common dividend per share by 5.3% to $0.30, indicating confidence in future earnings growth [10][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's outlook for 2026, citing strong investment activity and successful capital raises [10] - Initial earnings guidance for 2026 is set at $2.07-$2.11 for FFO per diluted common share, with investment volume expected to be between $70 million and $100 million [19] Other Important Information - The company ended the year with net debt to pro forma adjusted EBITDA of 6.7 times, down from 7.4 times at the beginning of the year [16] - The company has a liquidity position of $65.8 million, with potential total liquidity of $97.3 million at year-end [16] Q&A Session Summary Question: Can you discuss the loan portfolio and the 20% threshold? - Management indicated that the 20% threshold for the loan portfolio is reasonable and complementary to the company's core business, with room for an additional $25-$30 million in loans [22][25] Question: What is the status of reducing exposure to certain tenants like Walgreens? - Management confirmed ongoing efforts to sell additional Walgreens properties, with a focus on finding the right buyers [26][28] Question: How do you view the dividend increase in relation to earnings growth? - The increase in the dividend was driven by earnings and taxable income growth, with a focus on maintaining a balance between payouts and retaining cash flow [40][43] Question: What are the expectations for the investment opportunities in 2026? - Management expressed excitement about opportunities in both investment-grade and non-investment-grade properties, focusing on grocery-anchored developments and strong tenant relationships [45][62]