Maintained a disciplined balance sheet by expanding unsecured credit facilities and assuming attractively priced long-term debt to enhance liquidity and the overall debt profile.Improved portfolio quality and operating margins through $493 million in transaction activity, including strategic entries into Salt Lake City and Fort Collins while exiting legacy Minnesota markets.Managed significant supply-side pressure in Denver, where high delivery volumes from late 2024 through 2025 have temporarily decoupled ...

FOURTH QUARTER 2025 Supplemental Information Investor and Media Contact American Assets Trust, Inc. Robert F. Barton Executive Vice President and Chief Financial Officer 858-350-2607 with favorable supply/demand characteristics Office Retail Multifamily Mixed-Use Market Square Feet Square Feet Units Square Feet Suites San Diego 1,802,809 1,322,200 1,645 (1) — — Bellevue 1,028,470 — — — — Portland 930,903 44,236 657 — — San Antonio — 588,148 — — — San Francisco 511,493 35,097 — — — Oahu — 430,288 — 93,925 36 ...

Kennedy Wilson Overview - Kennedy Wilson manages a global investment portfolio with 39,000 multifamily units and 12 million sq ft of industrial space[5] - The company has a 36-year track record as a global real estate operator and investor[15] - Kennedy Wilson anticipates generating over $400 million from asset sales in 2025, with $125 million already repaid on the credit facility in Q2[12] Financial Performance - The estimated annual NOI from the stabilized portfolio is $473 million[13,18] - Investment Management Fees TTM are $103 million[13] - Fee-bearing capital is $8.7 billion as of Q1 2025[23,46] Portfolio Composition - Multifamily, Loans, and Industrial represent 72% of the stabilized portfolio[18] - The global multifamily portfolio totals approximately 39,000 units with an estimated annual NOI of $302 million and 95% occupancy[24,25] - Rental housing represents approximately 66% of AUM, totaling $12 billion[48,50] Investment Management Platform - The company targets 20%+ growth in investment management fees[12] - There is a $4.4 billion pipeline of fee-bearing capital from future fundings[47] - The credit platform has $9.1 billion in loan commitments[5,57]

Company Overview - UDR Inc. is a premier multifamily real estate investment trust (REIT) based in Denver, CO, set to announce its first-quarter 2025 results on April 30, with expectations of revenue growth but unchanged funds from operations (FFO) per share [1][12]. Recent Performance - In the last reported quarter, UDR achieved an FFO as adjusted per share of 63 cents, aligning with the Zacks Consensus Estimate, reflecting year-over-year growth in same-store revenues despite increased property operating and maintenance costs [2][3]. - Over the past four quarters, UDR's FFO as adjusted per share met or surpassed estimates, with an average surprise of 0.41% [3]. Market Conditions - The first quarter of 2025 saw strong apartment demand, with over 138,000 market-rate apartment units absorbed nationally, marking the highest first-quarter demand on record [4]. - Demand exceeded supply, with nearly 577,000 units delivered, indicating a potential peak in the construction cycle [5]. - Occupancy rates rose to 95.2% in March, the highest since October 2022, and effective rents increased by 0.75% in March and 1.1% year-over-year, with an average effective rent of $1,848 [6]. Regional Performance - The recovery in the rental market is uneven, with the Midwest and Rust Belt regions showing strong rent gains, while high-supply Sun Belt metros like Austin and Phoenix faced rent cuts but showed monthly growth in March [7]. Strategic Focus - UDR maintains a geographically diversified portfolio of A/B quality properties and is focused on enhancing technology and operational efficiency through its Next Generation Operating Platform [8]. - A solid balance sheet supports UDR's ability to pursue growth opportunities, although elevated rental unit supply in certain markets has increased competition and affected rent growth [9]. Projections and Estimates - UDR's first-quarter 2025 revenue is estimated at $421.73 million, reflecting a 2.44% year-over-year increase, with same-store physical occupancy projected at 97.0% [11]. - The company expects FFO as adjusted per share in the range of 60-62 cents, with the Zacks Consensus Estimate remaining at 61 cents, indicating no change year-over-year [12]. Earnings Prediction - UDR currently has a Zacks Rank of 3 and an Earnings ESP of -0.05%, suggesting no clear prediction of a surprise in FFO per share for the upcoming quarter [13].