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FRT Buys Kansas Retail Centers, Aims at Portfolio Quality Enhancement
ZACKS· 2025-07-10 16:06
Key Takeaways FRT bought two Kansas retail centers for $289M amid strong local demographics. FRT sold LA's Hollywood Boulevard retail assets for $69M to unlock value. FRT starts Lot 12, a 258-unit Santana Row project to boost portfolio quality.Federal Realty (FRT) recently announced several transactions supporting its capital deployment strategy. The company has acquired two open-air retail centers in Kansas, sold a non-core asset in Los Angeles and commenced a new residential project at Santana Row. The ...
Alexander & Baldwin Announces Second Quarter 2025 Earnings Release and Conference Call Date
Prnewswire· 2025-07-07 20:45
HONOLULU, July 7, 2025 /PRNewswire/ -- Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i-based owner, operator, and developer of high-quality commercial real estate in Hawai'i, will report results for the second quarter 2025, after the market closes, on Thursday, July 24, 2025. In connection with this announcement, A&B will host a conference call and webcast on Thursday, July 24, 2025, at 5:00 p.m. ET.The call and webcast will feature a discussion on second quarter 2025 operating and fi ...
EPR Properties(EPR) - 2012 Q4 - Earnings Call Presentation
2025-06-27 14:20
Q4 2012 AND YEAR-END EARNINGS CALL FEBRUARY 26, 2013 This information is as of the date indicated and, to our knowledge, was timely and ccurate when presented. We are under no obligation to update or remove outdated information other than as required by applicable law or regulation. rties AGENDA Properties® 2 · Introductory Comments · Portfolio Update · Financial Review · Capital Markets and Liquidity Update · Closing Comments INTRODUCTORY COMMENTS EPR Properties 3 HEADLINES HEADLINES Properties® ნ 1. Compa ...
Whitestone REIT Acquires 5000 South Hulen in Fort Worth, Texas
Globenewswire· 2025-06-17 11:00
Core Viewpoint - Whitestone REIT has acquired a high-volume shopping center, 5000 South Hulen, in Fort Worth, Texas, positioning itself to benefit from strong neighborhood dynamics and upcoming developments in the area [1][2]. Company Overview - Whitestone REIT is a neighborhood-focused real estate investment trust (REIT) that operates open-air shopping centers primarily in Texas and Arizona [7]. - The company emphasizes community connections and tenant relationships as key components of its acquisition strategy and operational success [8]. Acquisition Details - The newly acquired shopping center spans 86,907 square feet and is strategically located near Hulen Mall, the most visited mall within a 30-mile radius [1][5]. - The center is situated between two major thoroughfares, I-20 and Hulen Street, which collectively attract over 182,000 vehicles daily [5]. - The surrounding area has a population of over 300,000 residents within a 5-mile radius, with an average household income of $113,520, resulting in approximately $14 billion in spending power [5]. Strategic Implications - The acquisition marks Whitestone's 29th asset in Texas and its 10th in the Dallas-Fort Worth metroplex, reinforcing its presence in one of the fastest-growing states in the U.S. [1][6]. - The company plans to leverage its existing leasing and property management teams to enhance operational efficiency and drive earnings growth [6].
Macerich(MAC) - 2025 Q1 - Earnings Call Transcript
2025-05-12 18:02
The Macerich Company (MAC) Q1 2025 Earnings Call May 12, 2025 01:00 PM ET Company Participants Samantha Greening - AVP - Investor RelationsJackson Hsieh - President, CEO & DirectorDoug Healey - Senior Executive Vice President, LeasingDan Swanstrom - Senior Executive Vice President, Chief Financial Officer and TreasurerKi Bin Kim - Managing DirectorBrad Miller - Senior Vice President, Asset ManagementRonald Kamdem - Managing Director & Head of US REITs and CRE ResearchSamir Khanal - DirectorFloris van Dijkum ...
Macerich(MAC) - 2025 Q1 - Earnings Call Transcript
2025-05-12 18:00
Financial Data and Key Metrics Changes - FFO excluding certain expenses was approximately $87 million or $0.33 per share for Q1 2025, compared to approximately $75 million or $0.33 per share for Q1 2024, driven by higher leasing revenues [31][32] - Same center NOI, excluding lease termination income, increased by 0.9% year-over-year, while excluding Eddy assets, it increased by 2.4% [33] - Net debt to EBITDA at the end of Q1 was 7.9 times, nearly a full turn lower than at the outset of the path forward plan [35] Business Line Data and Key Metrics Changes - In Q1 2025, the company signed 2.6 million square feet of leases, including 2.3 million square feet of renewals, more than double the leases signed in Q1 2024 [11][21] - Trailing twelve-month leasing spreads were 10.9%, up from 8.8% last quarter, marking 14 consecutive quarters of positive leasing spreads [20] - The leasing speedometer indicated a completion percentage of 60% for new deals, up from 39% last quarter [13] Market Data and Key Metrics Changes - Portfolio sales at the end of Q1 were $837 per square foot, flat compared to Q4 2024, but $928 per square foot when excluding Eddy properties, which is up $13 from the last quarter [19] - Traffic for the year increased by 2% compared to the same period in 2024 [19] - Occupancy in Q1 was 92.6%, down from 94.1% in Q4 2024, primarily due to a decrease in temporary holiday stores [19] Company Strategy and Development Direction - The company is focused on executing its path forward plan, which aims to simplify the business, improve operational performance, and reduce leverage [5][7] - The leasing dashboard, referred to as the leasing speedometer, has been implemented to drive leasing and capital allocation decisions [8] - The company anticipates reaching a mid-2026 inflection point, indicating substantial completion of its plan [6][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the leasing progress and the overall execution of the path forward plan, stating that they are ahead of schedule [5][15] - Minimal impact from tariffs has been observed, with retailers continuing to honor their leases [14][42] - The company expects same store NOI growth in the 3% to 4% range for 2026, with significantly higher growth anticipated in 2027 and 2028 [61] Other Important Information - The company has made substantial progress on asset sales, with total dispositions reaching approximately $1.1 billion, and has identified additional assets totaling up to $400 million for sale or giveback [38][39] - The redevelopment and expansion of Green Acres is set to begin, addressing 370,000 square feet of vacant space [29] Q&A Session Summary Question: Potential upside on leasing due to recent news - Management noted minimal pullback from tenants regarding leasing, indicating strong retailer sentiment and confidence in the leasing metrics [41][42] Question: Clarification on the SNO pipeline - The $80 million SNO pipeline is incremental over revenue generated from 2024, with $25 million expected to be realized in 2025 [44] Question: Spending on leases and guidance reinstatement - Current spending on leases is slightly more than initially envisioned, with expectations for major uplifts in FFO and EBITDA in 2027 and 2028 [47][48] Question: Success of new deals and organizational structure - The consolidation of leasing teams has led to increased leasing activity, with a strong pipeline of new deals and a focus on high-quality spaces [52][53] Question: Same store NOI growth expectations - Management expects same store NOI growth of 3% to 4% in 2026, with higher growth anticipated in subsequent years [61] Question: Clarification on renewal leasing spread statistics - The renewal spread statistics include temporary spaces and are reflective of the exact same space, leading to differences in reported metrics [85][86] Question: Impact of tariffs on asset sales - Management indicated that tariffs have not significantly impacted asset sales, with positive demand and pricing for outparcels and other assets [110][111]
Whitestone REIT Reports First Quarter 2025 Results
GlobeNewswire News Room· 2025-04-30 20:30
HOUSTON, April 30, 2025 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) today announced its operating and financial results for the first quarter of 2025. Whitestone creates neighborhood center communities in its high-quality open-air shopping centers that it acquires, owns, manages, develops, and redevelops primarily in some of the largest, fastest-growing, high-household-income markets in the Sunbelt. For the three months ended March 31, 2025 and 2024, Net income attributab ...
Armada Hoffler Properties(AHH) - 2024 Q4 - Earnings Call Transcript
2025-02-20 18:38
Call Start: 8:30 January 1, 0000 9:14 AM ET Armada Hoffler Properties, Inc. (NYSE:AHH) Q4 2024 Earnings Conference Call February 20, 2025 8:30 AM ET Company Participants Chelsea Forrest - Vice President of Investor Relations Shawn Tibbetts - President and CEO Matthew Barnes-Smith - CFO Conference Call Participants Robert Stevenson - Janney Montgomery Viktor Fediv - Scotia Bank Andrew Berger - Bank of America Operator Good morning, ladies and gentlemen, welcome to the Armada Hoffler Fourth Quarter Earning ...