Tenant

Champion REIT Announces 2023 Annual Results

Retrieved on: 
Wednesday, February 21, 2024
Investment, Certification, Left, DPU, Platinum, Pressure, Three Garden Road, Central, Tourism, Growth, Tenant, Trust, Langham Place (Hong Kong), Environment, Property management

HONG KONG, Feb 21, 2024 - (ACN Newswire) - Champion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for year ended 31 December 2023.

Key Points: 
  • HONG KONG, Feb 21, 2024 - (ACN Newswire) - Champion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for year ended 31 December 2023.
  • Despite challenging market environment, occupancy of Three Garden Road maintained at stable level of 82.8% as at 31 December 2023.
  • Lifestyle tenants continued to be the major occupiers of the property, accounting for 74% of the area as at 31 December 2023.
  • For the domestic retail market, the strong local currency may hinder the growth this year following a solid recovery in 2023.

Moody’s Upgrades Phillips Edison & Company’s Rating Outlook to ‘Positive’ from ‘Stable’

Retrieved on: 
Monday, March 11, 2024
Credit rating, PECO, S&P Global Ratings, Moody's Investors Service, Phillips Edison & Company, Tenant, Commercial property

CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.

Key Points: 
  • CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.
  • In its public announcement, Moody’s stated: “PECO’s ratings reflect its high-quality portfolio of open-air neighborhood and community shopping centers, the resilient operating cash flows generated by its grocery-anchored centers, moderate leverage metrics, sound fixed charge coverage and good liquidity.”
    In addition, Moody’s stated: “Moody’s expects PECO to continue reporting good operating performance over the next few quarters despite the slowing macroeconomic environment because of its portfolio mix.
  • The high proportion of grocery-anchored shopping centers, 97.2% of PECO’s rental revenue in 2023, and the large share of the top grocers in its tenant mix have resulted in consistently high portfolio lease rates and strong tenant retention.”
    As previously announced, S&P Global Ratings revised in January 2024 its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘BBB-’ Issuer Credit Rating.

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
Tenant, Comparison, FFO, The Twelve Months, Common stock, Table, Common, Conference, Fourth, Funds from operations, Environment, Holding company

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
Conference call, FFO, Real estate, Depreciation, OP, MSA, Debt, Tenant, Conference, GAAP, GLA, Interest, Tax, Insurance

(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.

One Liberty Properties Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Tuesday, March 5, 2024
Analysis, FFO, National Association, Annual report, Investment, REIT, Growth, Sale, Tenant, NAREIT, GAAP, GREAT, Liberty, OLP, White paper, Result, Security (finance), Real estate investment trust, Insurance, Disability-adjusted life year, Depreciation, Real estate

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.

Virtus Diversified REIT Announces Lease Renewal with Crown Corporation at Timmins, Ontario Property

Retrieved on: 
Thursday, February 29, 2024
Investment, REIT, Growth, Federation, Tenant, State-owned enterprise

TORONTO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Virtus Capital Corporation, the asset manager of Virtus Diversified REIT is pleased to announce a lease renewal from the sole tenant, a federal government owned Crown Corporation, at the commercial property located in Timmins, Ontario.

Key Points: 
  • TORONTO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Virtus Capital Corporation, the asset manager of Virtus Diversified REIT is pleased to announce a lease renewal from the sole tenant, a federal government owned Crown Corporation, at the commercial property located in Timmins, Ontario.
  • The renewed lease extends the tenancy agreement through January 31, 2030, ensuring continued occupancy and revenue stability for this key asset in our portfolio.
  • The Timmins, Ontario property is strategically located in a prime commercial area, offering excellent access to amenities and public transportation.
  • For more information about Virtus Diversified REIT and its investment opportunities, please visit www.vreit.ca .

Thor Equities Group Chairman Joe Sitt on CNBC: “The Demand for Data Centers is Voracious”

Retrieved on: 
Wednesday, February 28, 2024
Thor Equities, Intelligence, Investment, Tenant, Sitt, Thor, Cryptocurrency

On Squawk on the Street, Joe Sitt shared his views on the rapid advancing of artificial intelligence that is driving the demand for data center storage.

Key Points: 
  • On Squawk on the Street, Joe Sitt shared his views on the rapid advancing of artificial intelligence that is driving the demand for data center storage.
  • To illustrate his point, Mr. Sitt referenced Thor Equities’ new development in Spain, which had an original budget of 400M Euros but quickly escalated to 2.6B Euros due to demand from a potential tenant.
  • Once office properties became stressed, Thor was able to free capital which allowed the company to chase industrial real estate and data centers, Thor’s largest convictions currently.
  • He concluded there may be light at the end of the tunnel and “offices could regenerate to its highest and best use, which may be data centers”.

SRS Real Estate Partners Adds Top Southern California Retail Brokerage Team and Launches Inland Empire Office

Retrieved on: 
Tuesday, February 27, 2024
Marketing, EVP, Inland Empire, SVP, Culture, Southern California, Transaction, Tenant, SRS, University Avenue, Partnership

Dallas, TX, United States, Feb. 27, 2024 (GLOBE NEWSWIRE) -- SRS Real Estate Partners announced today the expansion of its Southern  California presence with the addition of a market-leading retail team led by real estate veteran Nick Wirick who will serve as Senior Vice President and Managing Principal.

Key Points: 
  • Dallas, TX, United States, Feb. 27, 2024 (GLOBE NEWSWIRE) -- SRS Real Estate Partners announced today the expansion of its Southern  California presence with the addition of a market-leading retail team led by real estate veteran Nick Wirick who will serve as Senior Vice President and Managing Principal.
  • With this addition, SRS is opening its first Inland Empire office, where the team will be based, at 3390 University Avenue in Riverside.
  • The team focuses on tenant and owner services primarily in the Inland Empire, a market experiencing substantial growth over the past decade.
  • “As a top team in the region, they are a perfect fit for SRS and will integrate seamlessly with our existing team of 20 retail brokers here.

Global Net Lease Reports Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, February 27, 2024
RTL, Moody's Investors Service, Common stock, Internalization, Tenant, Adjustment, Proxy, Mergers and acquisitions, GNL, Webcast, Depreciation, Times interest earned, Probability, Software, PSAS

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”), an internally managed real estate investment trust that focuses on acquiring and managing a globally diversified portfolio of strategically-located commercial real estate properties, announced today its financial and operating results for the quarter and year ended December 31, 2023.

Key Points: 
  • Weighted average debt maturity was 3.2 years as of December 31, 2023 as compared to 3.9 years as of December 31, 2022.
  • 1 Based on GNL’s fourth quarter 2023 general & administrative expenses annualized for a full fiscal year.
  • 4 Weighted-average remaining lease term in years is based on square feet as of December 31, 2023.
  • 8 Projected Adjusted EBITDA annualized based on estimated Adjusted EBITDA for the quarter ended December 31, 2024 multiplied by four.

Lincoln Educational Services Reports Results for Fourth Quarter and Full Year 2023

Retrieved on: 
Monday, February 26, 2024
HVAC, LINC, Total, Student, Lincoln, Call, Automotive industry, Investment, Grand Prairie, Texas, Transition, Growth, Sale, Lincoln Tech, Tenant, Faculty, GAAP, College of Engineering (KNUST), Employment, Electricity, Corporation, Fifth Third Bank

PARSIPPANY, N.J., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) today announced financial and operating results for the fourth quarter and full year ended December 31, 2023, as well as recent business developments.

Key Points: 
  • ET
    PARSIPPANY, N.J., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) today announced financial and operating results for the fourth quarter and full year ended December 31, 2023, as well as recent business developments.
  • “During the fourth quarter, we achieved a 16% increase in student starts, all from existing campus operations, and grew revenue to more than $100 million.
  • The Lincoln 10.0 platform’s hybrid teaching model increases program efficiency and delivers accelerated revenue recognition in certain evening programs.
  • Educational services and facilities increased $4.5 million, or 12.4% to $41.0 million from $36.5 million in the prior year comparable period.