NAREIT

FREIT Announces First Quarter 2024 Results

Retrieved on: 
Monday, March 18, 2024
Real estate investment trust, Provident Bank, NOI, REIT, NAREIT, GAAP, National Association, FFO, Funds from operations, Fiscal year, Security (finance)

NOI for the commercial properties decreased to approximately $654,000 for the fiscal quarter ended January 31, 2024 from approximately $1,007,000 for the prior year's comparable period.

Key Points: 
  • NOI for the commercial properties decreased to approximately $654,000 for the fiscal quarter ended January 31, 2024 from approximately $1,007,000 for the prior year's comparable period.
  • On January 11, 2024, FREIT used cash on hand to fully repay the $7.5 million loan on its residential property located in Rockaway, New Jersey.
  • The Board of Directors of FREIT declared a first quarter dividend of $0.05 on the common stock to holders of record of the shares at the close of business on March 1, 2024.
  • FREIT computes FFO and AFFO as follows:
    For the Fiscal Quarter Ended January 31,

EXL Announces Appointment of Thomas Bartlett to Board of Directors and Retirement of Board Member Som Mittal

Retrieved on: 
Thursday, March 7, 2024
Otis Worldwide, ICT, National Association, AI, Business, Business Roundtable, Mittal, American Tower, OTIS, Communication, NAREIT, EXL, Verizon Communications, Real estate investing, Family, Knowledge, Som Mittal, Management

The company also announced that Som Mittal has notified the board that he will not stand for re-election at EXL’s 2024 annual meeting of stockholders and therefore will be retiring from the board in June 2024.

Key Points: 
  • The company also announced that Som Mittal has notified the board that he will not stand for re-election at EXL’s 2024 annual meeting of stockholders and therefore will be retiring from the board in June 2024.
  • “We are excited to welcome Tom to the board,” said Board Chair Vikram Pandit.
  • “On behalf of EXL and its board of directors, I would also like to thank Som for the wisdom and insights he has contributed since joining the board in 2013,” said Pandit.
  • “EXL is well positioned to take advantage of the coming AI economy, and I look forward to following its continued success.”

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.

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

Retrieved on: 
Wednesday, February 28, 2024
Honey, FFO, Senior, Conference call, UMH Properties, Interest, Form 10-K, Investment, REIT, Common stock, Growth, Sale, Annual report, Conference, NAREIT, GAAP, Real estate investment trust, COVID, White paper, UMH, Stock

“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.

Postal Realty Trust, Inc. Reports Fourth Quarter and Year End 2023 Results

Retrieved on: 
Monday, February 26, 2024
Acquisition, FFO, National Association, USPS, Investment, Growth, Renting, Sale, Exercise, Nature, NAREIT, GAAP, Webcast, Depreciation, Public expenditure, Security (finance), Real estate investment trust, Environment, Insurance, Partnership

CEDARHURST, N.Y., Feb. 26, 2024 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 1,900 properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to industrial facilities, today announced results for the quarter and year ended December 31, 2023.

Key Points: 
  • As previously disclosed, on July 24, 2023, the Company amended its credit facilities to, among other things, add a daily simple SOFR-based option as a benchmark rate.
  • In 2023, the Company entered into its first forward sales transactions and, as of December 31, 2023, all shares from the transactions had been settled.
  • The Company will host a webcast and conference call to discuss the fourth quarter 2023 financial results on Tuesday, February 27, 2024, at 9:00 A.M. Eastern Time.
  • As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements.

Host Hotels & Resorts, Inc. Reports Results for 2023

Retrieved on: 
Wednesday, February 21, 2024
BBB, FFO, Total, ROI, Host Hotels & Resorts, Share repurchase, Golf, Growth, Quercus alnifolia, Walt Disney, Supplement, The Room, RevPAR, Hurricane Ian, Adjustment, NAREIT, GAAP, Comparable, S&P Global, Tax, Fourth, Security (finance), Insurance, Host, Statistics, Season, Hotel

BETHESDA, Md., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for fourth quarter and full year 2023.

Key Points: 
  • Additionally, comparable hotel results and statistics include adjustments for dispositions, acquisitions and non-comparable hotels.
  • See Hotel Operating Data for RevPAR results of the portfolio based on the Company's ownership period without these adjustments.
  • Maintained investment grade balance sheet and attained upgrades to Host Hotels & Resorts, L.P.'s issuer-credit ratings from Fitch to BBB and S&P Global to BBB-.
  • The following are the results for transient, group and contract business in comparison to 2022 performance, for the Company's current portfolio:

Elme Communities Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, February 15, 2024
CFO, REIT, Growth, Elmė, NOI, NAREIT, Watergate scandal, Commercial property

"Looking forward, our primary emphasis will be on implementing operational enhancements and utilizing our new technology to enhance profitability.

Key Points: 
  • "Looking forward, our primary emphasis will be on implementing operational enhancements and utilizing our new technology to enhance profitability.
  • Multifamily same-store NOI - Same-store NOI increased 4.5% compared to the corresponding prior year period driven primarily by higher base rent.
  • Average Occupancy for the quarter increased 50 basis points from the prior year period to 95.5%.
  • Elme is providing its guidance for 2024, including its full year 2024 outlook on key assumptions and matters.

Kite Realty Group Trust Reports Fourth Quarter and Full Year 2023 Operating Results and Provides 2024 Guidance

Retrieved on: 
Tuesday, February 13, 2024
Acquisition, KRG, Whole Foods Market, NOI, Adjustment, ABR, NAREIT, Trustee, Total Wine & More, Security (finance)

INDIANAPOLIS, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets, reported today its operating results for the fourth quarter and year ended December 31, 2023.

Key Points: 
  • INDIANAPOLIS, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored neighborhood and community centers, along with vibrant mixed-use assets, reported today its operating results for the fourth quarter and year ended December 31, 2023.
  • “Our dedicated team enables us to consistently deliver outstanding results and long-term value to all stakeholders.
  • The first quarter dividend will be paid on or about April 12, 2024, to shareholders of record as of April 5, 2024.
  • The following table reconciles the Company’s 2024 net income guidance range to the Company’s 2024 NAREIT FFO guidance range:

Acadia Realty Trust Reports Fourth Quarter and Full Year 2023 Operating Results

Retrieved on: 
Tuesday, February 13, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Acquisition, AKR, FFO, Investment, Albertsons, Growth, Old Navy, Tenant, NOI, Risk, NAREIT, Shaw's and Star Market, Fund, ULTA, Policy, Cryptocurrency

Acadia Realty Trust (NYSE: AKR) (“Acadia” or the “Company”) today reported operating results for the quarter and year ended December 31, 2023.

Key Points: 
  • Acadia Realty Trust (NYSE: AKR) (“Acadia” or the “Company”) today reported operating results for the quarter and year ended December 31, 2023.
  • For the quarter ended December 31, 2023, net loss per share was $0.02 and for the year ended December 31, 2023, net earnings per share was $0.20.
  • Kenneth F. Bernstein, President and CEO of Acadia Realty Trust, commented:
    “This is an exciting time for Acadia.
  • Same-property NOI growth, excluding redevelopments, increased 5.8% for the year ended December 31, 2023 and 4.2% for the fourth quarter.

FREIT Announces Fourth Quarter Fiscal 2023 Results

Retrieved on: 
Monday, January 29, 2024
The Wall Street Journal, The Twelve Months, Provident, Provident Bank, Real estate investment trust, GAAP, National Association, Fiscal year, Funds from operations, REIT, NOI, NAREIT, FFO

The Maryland Properties sold in the prior year's comparable period were excluded from same property results for all periods presented.

Key Points: 
  • The Maryland Properties sold in the prior year's comparable period were excluded from same property results for all periods presented.
  • Same property NOI for the residential properties increased modestly to approximately $2,837,000 and $10,975,000 for the fiscal quarter and twelve months ended October 31, 2023, respectively, from approximately $2,744,000 and $10,665,000 for the prior year's comparable periods, respectively.
  • On October 4, 2023, the Board of Directors of FREIT declared a fourth quarter dividend of $0.05 per share on the common stock to holders of record of said shares at the close of business on December 1, 2023.
  • FREIT computes FFO and AFFO as follows:
    For the Fiscal Quarter Ended October 31,
    For the Twelve Months Ended October 31,