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EQS-News: Grand City Properties S.A. announces FY 2023 results with robust operational growth and stable LTV

Retrieved on: 
Wednesday, March 13, 2024

Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.

Key Points: 
  • Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.
  • EPRA LTV (considering perpetual notes as debt) as of December 2023 is 48%, up from 46% in December 2022 due to negative property revaluation.
  • Luxembourg, March 13, 2024 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the financial year 2023 with robust operational performance, strong liquidity position and conservative financial leverage maintained.
  • In 2023, GCP continued its proactive approach of strengthening liquidity, reducing refinance risk and maintaining a conservative financial profile with stable LTV ratio.

EQS-News: Operationally successful FY 2023 for TAG; sales results in Poland exceed guidance; significantly increased net liquidity from disposals in Germany; LTV stable despite portfolio devaluation  

Retrieved on: 
Wednesday, March 13, 2024

Operationally successful FY 2023 for TAG; sales results in Poland exceed guidance; significantly increased net liquidity from disposals in Germany; LTV stable despite portfolio devaluation

Key Points: 
  • Operationally successful FY 2023 for TAG; sales results in Poland exceed guidance; significantly increased net liquidity from disposals in Germany; LTV stable despite portfolio devaluation
    The issuer is solely responsible for the content of this announcement.
  • Based on a comparable portfolio (like-for-like), total rental growth, including the effects from vacancy reduction, was 2.3% (FY 2022: 2.7%) p.a.
  • The vacancy rate for these apartments was 2.2% at the end of the year, after 3.9% at the end of 2022.
  • The total sales volume of EUR 479.0 m increased significantly in 2023 compared to the previous year (EUR 264.2 m).

Grand City Properties S.A. announces FY 2023 results with robust operational growth and stable LTV

Retrieved on: 
Wednesday, March 13, 2024

Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.

Key Points: 
  • Adjusted EBITDA of €320 million in FY 2023, higher by 4% as compared to €308 million in FY 2022.
  • EPRA LTV (considering perpetual notes as debt) as of December 2023 is 48%, up from 46% in December 2022 due to negative property revaluation.
  • Luxembourg, March 13, 2024 – Grand City Properties S.A. (“GCP” or the “Company”) announces results for the financial year 2023 with robust operational performance, strong liquidity position and conservative financial leverage maintained.
  • In 2023, GCP continued its proactive approach of strengthening liquidity, reducing refinance risk and maintaining a conservative financial profile with stable LTV ratio.

NewLake Capital Partners Reports Fourth Quarter and Full-Year 2023 Financial Results; Raises First Quarter 2024 Common Stock Dividend to $0.41 per Share

Retrieved on: 
Monday, March 11, 2024

NEW CANAAN, Conn., March 11, 2024 (GLOBE NEWSWIRE) -- NewLake Capital Partners, Inc. (OCTQX: NLCP) (the “Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced its financial results for the fourth quarter and full year ended December 31, 2023, and declared its first quarter of 2024 dividend.

Key Points: 
  • Anthony Coniglio, President and Chief Executive Officer, said, “We are pleased to deliver solid fourth quarter and full year financial results.
  • Declared a fourth quarter dividend of $0.40 per share of common stock, an increase of 2.6% year-over-year.
  • For the twelve months ended December 31, 2023, the Company declared dividends of $1.57 per share of common stock, an increase of 9.0% year-over-year.
  • The following tables present the Company’s investment activity for the twelve months ended December 31, 2023 (dollars in thousands):

Whitestone REIT Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, March 6, 2024

(2) Excludes straight-line rent, amortization of above/below market rates and lease termination fees for both periods.

Key Points: 
  • (2) Excludes straight-line rent, amortization of above/below market rates and lease termination fees for both periods.
  • (3) Fourth quarter annualized EBITDAre.
  • As of December 31, 2023, Whitestone wholly owned 55 Community-Centered Properties™ with approximately 5.0 million square feet of gross leasable area (“GLA”).
  • A replay of the call will be available on Whitestone’s website via the webcast link until the Company’s next earnings release.

Sotherly Hotels Inc. Reports Financial Results for the Fourth Quarter Ended December 31, 2023

Retrieved on: 
Wednesday, March 6, 2024

Total revenue was approximately $42.1 million and $41.3 million, for the three month periods ended December 31, 2023 and 2022, respectively.

Key Points: 
  • Total revenue was approximately $42.1 million and $41.3 million, for the three month periods ended December 31, 2023 and 2022, respectively.
  • For the twelve-month period ending December 31, 2023, total revenue increased to approximately $173.8 million, from approximately $166.1 million during the comparable period in 2022.
  • Hotel EBITDA decreased to approximately $10.3 million for the three months ended December 31, 2023, from approximately $11.9 million during the comparable period in 2022.
  • Dave Folsom, President and Chief Executive Officer of Sotherly Hotels Inc., commented, "In the fourth quarter, we continued to see improvements in overall hotel performance metrics.

One Liberty Properties Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Tuesday, March 5, 2024

GREAT NECK, N.Y., March 05, 2024 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused primarily on net leased industrial properties, today announced operating results for the quarter and year ended December 31, 2023.

Key Points: 
  • Total operating expenses in the fourth quarter of 2023 were $14.3 million compared to $14.2 million for the three months ended December 31, 2022.
  • For the fourth quarter of 2023 net expenses were $5.2 million compared to net expenses of $4.6 million in the corresponding period of 2022.
  • Gain on sale of real estate was $12.0 million for the quarter ended December 31, 2023.
  • Acquisitions and dispositions in 2022 and 2023 contributed, on a net basis, approximately $1.8 million to 2023 rental income.

CubeSmart Reports Fourth Quarter and Annual 2023 Results

Retrieved on: 
Thursday, February 29, 2024

Net income attributable to the Company’s common shareholders was $112.7 million for the fourth quarter of 2023, compared with $81.9 million for the fourth quarter of 2022.

Key Points: 
  • Net income attributable to the Company’s common shareholders was $112.7 million for the fourth quarter of 2023, compared with $81.9 million for the fourth quarter of 2022.
  • FFO, as adjusted, was $158.4 million for the fourth quarter of 2023, compared with $152.3 million for the fourth quarter of 2022.
  • Same-store revenues for the fourth quarter of 2023 increased 0.4% and same-store operating expenses decreased 1.8% from the same quarter in 2022.
  • Same-store NOI increased 1.2% from the fourth quarter of 2022 to the fourth quarter of 2023.

UMH PROPERTIES, INC. REPORTS RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2023

Retrieved on: 
Wednesday, February 28, 2024

“During 2023, UMH made substantial progress on multiple fronts – generating solid operating results, achieving strong growth and improving our financial position.

Key Points: 
  • “During 2023, UMH made substantial progress on multiple fronts – generating solid operating results, achieving strong growth and improving our financial position.
  • UMH is strategically positioned to continue to increase earnings through the execution of our long-term business plan.
  • Senior management will discuss the results, current market conditions and future outlook on Thursday, February 29, 2024 at 10:00 a.m. Eastern Time.
  • The Company’s fourth quarter and year ended December 31, 2023 financial results being released herein will be available on the Company’s website at www.umh.reit in the “Financials” section.

American Hotel Income Properties REIT LP Reports 2023 Results With 5.9% Annual RevPAR Growth

Retrieved on: 
Wednesday, February 28, 2024

On November 7, 2023, AHIP entered into an amendment to its revolving credit facility (the “RCF”) and certain term loans (the “Sixth Amendment”).

Key Points: 
  • On November 7, 2023, AHIP entered into an amendment to its revolving credit facility (the “RCF”) and certain term loans (the “Sixth Amendment”).
  • The total appraised value of the 20 hotel properties (the "Borrowing Base Properties") is $286.2 million.
  • The appraised value of $286.2 million for the 20 Borrowing Base Properties (2,070 keys) is equivalent to $138 thousand per key.
  • The borrowing availability is subject to a maximum of 67.5% LTV based on the appraised value of the Borrowing Base Properties.