Comstock(US:CHCI)2025-06-27 14:07Company Overview - Comstock manages $1.6 billion in Real Estate AUM[9] - The company manages 45 properties[9] - Comstock has 2 million square feet of commercial space[9] - The company has 5.8 million square feet of additional entitled space[9] - Comstock has approximately 1,700 multifamily units[9] - The company's FY 2022 Revenue was $39.3 million[9] - At full build-out, the company will have approximately 10 million square feet of space[9] - At full build-out, the company's Real Estate AUM is expected to be over $5 billion[9] Financial Highlights - Comstock's 2022 Adjusted EBITDA Multiple is 4.6x, compared to peers at 9.2x[17] - The company has a $132 million tax asset[17] - The company's Return on Equity (ROE) for FY 2022 is 27%, compared to peers at 7%[17] - Adjusted EBITDA grew at a CAGR of 41% from 2019-2022, while peers experienced a -4% CAGR[17] - Total Adjusted EBITDA for 2020 was $3.4 million, increasing to $5.8 million in 2021 and $9.0 million in 2022[19] Portfolio Performance - Managed asset revenue increased by 86% from $52 million in 2020 to $97 million in 2022[25] - Net Operating Income (NOI) increased by 127% from $22 million in 2020 to $49 million in 2022[25] - Multifamily units increased by 46% from 1,123 in 2020 to 1,638 in 2022[25] - Multifamily leased percentage increased by 23% from 73% in 2020 to 90% in 2022[25] - Commercial square footage increased by 9% from 1.8 million in 2020 to 2.0 million in 2022[25] - Commercial leased percentage increased by 10% from 79% in 2020 to 87% in 2022[25] - Parking spaces increased by 70% from 8,336 in 2020 to 14,193 in 2022[25]