REIT

Office Properties Income Trust Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Multimedia, OPI

Office Properties Income Trust (Nasdaq: OPI) today announced its financial results for the quarter ended March 31, 2024, which can be found at the Quarterly Results section of OPI’s website at https://www.opireit.com/investors/financial-information/default.aspx .

Key Points: 
  • Office Properties Income Trust (Nasdaq: OPI) today announced its financial results for the quarter ended March 31, 2024, which can be found at the Quarterly Results section of OPI’s website at https://www.opireit.com/investors/financial-information/default.aspx .
  • View the full release here: https://www.businesswire.com/news/home/20240501530330/en/
    A conference call discussing OPI's first quarter results will be held on Thursday, May 2, 2024 at 10:00 a.m. Eastern Time.
  • A replay will be available for one week by dialing (412) 317-0088; the replay pass code is 4668950.
  • A live audio webcast of the conference call will also be available in a listen only mode on OPI’s website, at www.opireit.com .

Broadstone Net Lease Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, FFO, GAAP, BNL, Investment, ABR, Property management

The gross proceeds represented a $2.1 million gain over original purchase price and a $55.5 million net gain over carrying value.

Key Points: 
  • The gross proceeds represented a $2.1 million gain over original purchase price and a $55.5 million net gain over carrying value.
  • As of March 31, 2024, we had total outstanding debt of $1.9 billion, Net Debt of $1.7 billion, a Net Debt to Annualized Adjusted EBITDAre ratio of 4.8x, and a Pro Forma Net Debt to Annualized Adjusted EBITDAre ratio of 4.6x.
  • We did not raise any equity during the quarter, and had approximately $145.4 million of capacity remaining on our ATM Program as of March 31, 2024.
  • The company will host its fourth quarter earnings conference call and audio webcast on Thursday, May 2, 2024, at 11:00 a.m. Eastern Time.

CareTrust REIT Funds Mortgage Financing with Purchase Option on Tennessee Skilled Nursing Facilities; Reports Reloaded Pipeline of $260 Million and Q1 ATM Activity of $273 Million

Retrieved on: 
Wednesday, May 1, 2024
Commercial Building & Real Estate, Construction & Property, Nursing, Managed Care, Finance, Health, Professional Services, REIT, Bed, Environment, ENSG, CFO, Hand, Ensign, Investment, Acquisition, Real estate

The borrower group under the loan is an experienced, regional health care real estate owner and investor.

Key Points: 
  • The borrower group under the loan is an experienced, regional health care real estate owner and investor.
  • James Callister, CareTrust’s Chief Investment Officer, stated that, “We are thrilled to announce the closing of this unique investment opportunity.
  • During the first quarter, we issued 11.6 million shares at an average share price of $23.55 for gross proceeds of approximately $273.2 million.
  • This brings our outstanding share total to approximately 142.1 million shares.”
    The investment was funded using cash on hand.

LTC to Participate in the BMO Real Estate Conference and the Wells Fargo Real Estate Securities Conference

Retrieved on: 
Wednesday, May 1, 2024
Managed Care, Professional Services, Consumer, Residential Building & Real Estate, Asset Management, Commercial Building & Real Estate, Construction & Property, Nursing, Seniors, REIT, Finance, Health, LTC, Conference, Housing

LTC Properties, Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced senior management will participate in the BMO Real Estate Conference in New York on Wednesday, May 8, 2024, and the Wells Fargo Real Estate Securities Conference in Amelia Island, Florida on Thursday, May 9, 2024.

Key Points: 
  • LTC Properties, Inc. (NYSE: LTC), a real estate investment trust that invests in seniors housing and health care properties, today announced senior management will participate in the BMO Real Estate Conference in New York on Wednesday, May 8, 2024, and the Wells Fargo Real Estate Securities Conference in Amelia Island, Florida on Thursday, May 9, 2024.

Office Properties Income Trust Announces Private Exchange Offers Relating to Existing Unsecured Senior Notes

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Sale, Exchange offer, OPI, Settlement date, Depreciation, Security (finance), Exchange, Expiration, Circular reference, Information, Regulation, Letter, GAAP, ATTN:, Note

An Eligible Holder (as defined below) must tender all of its Existing 2025 Notes in the Exchange Offers in order to participate in the Exchange Offers.

Key Points: 
  • An Eligible Holder (as defined below) must tender all of its Existing 2025 Notes in the Exchange Offers in order to participate in the Exchange Offers.
  • An Eligible Holder may withdraw Existing 2025 Notes from an Exchange Offer only if it validly withdraws all its Existing 2025 Notes from such Exchange Offer and also validly withdraws its tender of all other Existing Notes from the applicable Exchange Offers.
  • Holders of Existing Notes who wish to receive a copy of the eligibility letters for the Exchange Offers may contact the information and exchange agent, D.F.
  • The Existing Notes that are not exchanged will continue to be outstanding in accordance with all other terms of the Existing Notes and the indentures governing such Existing Notes.

VICI Properties Inc. Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
REIT, Lodging, Commercial Building & Real Estate, Construction & Property, Travel, Debt-to-GDP ratio, Sale, Apollo, Total, Investment, Recreation, Risk, Sport, CPI, ATM, Margaritaville Casino, FFO, Acquisition, Vici Properties, VICI, Note, Holding company

VICI Properties Inc. (NYSE: VICI) (“VICI Properties”, “VICI” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2024.

Key Points: 
  • VICI Properties Inc. (NYSE: VICI) (“VICI Properties”, “VICI” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended March 31, 2024.
  • Total revenues for the quarter included $135.7 million of non-cash leasing and financing adjustments and $19.3 million of other income.
  • AFFO per share was $0.56 for the quarter, an increase of 6.1% compared to $0.53 for the quarter ended March 31, 2023.
  • The initial $400.0 million investment will be funded in three quarterly draws based on a fixed funding schedule: $100.0 million in Q2 2024, $150.0 million in Q3 2024 and $150.0 million in Q4 2024.

Paramount Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Tenant, FFO, FAS, Paramount Group, GAAP, Projection, Disclosure

Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 today and reported results for the first quarter ended March 31, 2024.

Key Points: 
  • Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 today and reported results for the first quarter ended March 31, 2024.
  • Declared a first quarter cash dividend of $0.035 per common share on March 15, 2024, which was paid on April 15, 2024.
  • Same Store Cash NOI decreased by $1.4 million, or 1.5%, to $89.2 million for the quarter ended March 31, 2024 from $90.6 million for the quarter ended March 31, 2023.
  • Same Store NOI decreased by $3.4 million, or 3.5%, to $93.9 million for the quarter ended March 31, 2024 from $97.3 million for the quarter ended March 31, 2023.

National Storage Affiliates Trust Reports First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Sale, Share repurchase, Pressure, JV, NSA

National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Company’s first quarter 2024 results.

Key Points: 
  • National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Company’s first quarter 2024 results.
  • Reported net income of $95.1 million for the first quarter of 2024, an increase of 135.4% compared to the first quarter of 2023.
  • Reported diluted earnings per share of $0.65 for the first quarter of 2024 compared to $0.24 for the first quarter of 2023.
  • Reported core funds from operations ("Core FFO") of $72.4 million, or $0.60 per share for the first quarter of 2024, a decrease of 9.1% per share compared to the first quarter of 2023.

Hudson Pacific Properties Reports First Quarter 2024 Financial Results

Retrieved on: 
Wednesday, May 1, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Corporation, Total, Tenant, San Francisco Bay Area, Public expenditure, FFO, WGA, Corporate social responsibility, Don Quixote, NOI, International Brotherhood of Teamsters, Concourse, GAAP, Growth, Sunset, Balance sheet, Sunset Las Palmas Studios

Hudson Pacific Properties, Inc. (NYSE: HPP) (the "Company," "Hudson Pacific," or "HPP"), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants, today announced financial results for the first quarter 2024.

Key Points: 
  • Hudson Pacific Properties, Inc. (NYSE: HPP) (the "Company," "Hudson Pacific," or "HPP"), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants, today announced financial results for the first quarter 2024.
  • "Our office leasing momentum accelerated to start off the year, as we signed over 500,000 square feet of leases in the first quarter.
  • "While we remain focused on further strengthening our balance sheet through targeted asset sales, in the first quarter, we purchased our partners’ stake in 1455 Market in San Francisco.
  • There can be no assurance that actual results will not differ materially from these estimates.

Equity Commonwealth Reports First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Sale, Indian stock exchange, Nature, Commonwealth, EQC, Real estate investing, National Association, FFO, Wind, NOI, GAAP, COVID-19, Security (finance)

Equity Commonwealth (NYSE: EQC) today reported financial results for the quarter ended March 31, 2024.

Key Points: 
  • Equity Commonwealth (NYSE: EQC) today reported financial results for the quarter ended March 31, 2024.
  • Financial results for the quarter ended March 31, 2024
    Net income attributable to common shareholders was $23.4 million, or $0.22 per diluted share, for the quarter ended March 31, 2024.
  • Normalized FFO was $27.6 million, or $0.25 per diluted share, for the quarter ended March 31, 2024.
  • Equity Commonwealth will host a conference call to discuss first quarter results on Thursday, May 2, 2024, at 9:00 A.M. CT.