Strong demand for MPC residential land and impressive financial performance across the portfolio solidify positive full-year outlook with upgraded guidance in all segments
THE WOODLANDS, Texas, Nov.
Real Estate News
BETHESDA, Md., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating results today for the quarter ended September 30, 2024:
Financial Results
Net loss was $3.0 million, or $0.03 per diluted shareNAREIT FFO was $20.5 million, or $0.23 per diluted shareCore FFO was $20.7 million, or $0.23 per diluted shareNet Operating Income (NOI) was $38.8 millionOperational Highlights
Same-store multifamily NOI increased by 2.3% compared to the prior year quarterEffective blended Lease Rate Growth was 2.1% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of (1.5)% and effective renewal Lease Rate Growth of 4.5%Average Effective Monthly Rent Per Home increased 2.4% compared to the prior year quarter for our Same-Store PortfolioSame-store Retention was 66%, up 5% compared to the prior year quarterSame-store multifamily Average Occupancy was 95.2% during the quarter, down 0.2% compared to the prior year quarter and up 0.6% compared to the prior quarter.GAAP Net Loss of $10.4million
Normalized FFO of $0.35 Per Diluted Share
Office Same Store NOI Growth of 6.1% (GAAP)Positive Office Renewal Spreads of 18.5% (GAAP) and 0.8% (Cash)Office Occupancy Increased to 94.7%
Positive Retail Renewal Spreads of 13.1% (GAAP) and 7.8% (Cash)Retail Occupancy Increased to 96.2%
Positive Tradeouts on Multifamily Renewals of 1.8%
Narrowed 2024 Full-Year Normalized FFO Guidance Range of $1.25 to $1.27 Per Diluted Share
VIRGINIA BEACH, Va.
NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today:
Quarter Ended September 30, 2024 Financial Results
NET LOSS attributable to common shareholders for the quarter ended September 30, 2024 was $19,154,000, or $0.10 per diluted share, compared to net income attributable to common shareholders of $52,846,000, or $0.28 per diluted share, for the prior year's quarter.
FREEHOLD, NJ, Nov. 04, 2024 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) announced that on November 1, 2024, the company closed on an acquisition of a self-storage facility adjoining one of UMH’s communities in Anderson, Indiana.
NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $12,985,600 HUD-insured 207/223(f) loan to refinance an affordable housing property in Hartford, CT.
BOCA RATON, FL, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform connecting the commercial real estate industry, is pleased to announce a licensing agreement with one of the nation’s top 20 publicly traded commercial real estate professional services firms.
Veteran Real Estate C-Suite Executives Kristian M. Gathright and Donald A. Miller Bring Deep Industry Expertise and Financial and Operational Acumen
HOUSTON, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE: WSR) (“Whitestone” or the “Company”) today announced the appointments of Kristian (“Krissy”) M.
JERICHO, N.Y., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Kimco Realty Corporation (NYSE: KIM) (the “Company”) today announced the commencement of a tender offer to purchase for cash any and all of its outstanding depositary shares (each, a “Security” and, collectively, the “Securities”) representing 1/1,000 of a share of 7.25% Class N Cumulative Convertible Perpetual Preferred Stock, par value $1.00 per share (the “Class N Preferred Stock”), at a price per Security of $62.00, plus any accrued and unpaid dividends (the “Offer”).
JACKSONVILLE, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) -- FRP Holdings, Inc. (NASDAQ: FRPH) anticipates issuing its third quarter earnings results on Wednesday, November 6, 2024.