Believes Significant Board Change is Necessary to Create Shareholder Value
OLD GREENWICH, Conn., April 28, 2023 (GLOBE NEWSWIRE) -- Star Equity Fund, LP (“Star Equity Fund” or “we”), a 5.4% shareholder of Gyrodyne, LLC (Nasdaq: GYRO) (“Gyrodyne” or the “Company”), announced today its nomination of two highly qualified director candidates for election to the Gyrodyne board of directors (the “Board”) at the Company’s 2023 annual meeting of shareholders (the “Annual Meeting”).
OLD GREENWICH, Conn., April 28, 2023 (GLOBE NEWSWIRE) -- Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) (“Star Equity” or the “Company”), a diversified holding company, announced today that its KBS Builders, Inc.
Rendering by Ross Deckman & Associates
No Shareholder Action Required at This Time
ST. JAMES, N.Y., April 28, 2023 (GLOBE NEWSWIRE) -- Gyrodyne, LLC (NASDAQ: GYRO) (the “Company”), an owner and manager of a diversified portfolio of real estate properties, today confirmed receipt of a notice (the “Notice”) from Star Equity Fund, LP ( “Star Equity”) of its intent to nominate two individuals to stand for election to the Company’s Board of Directors (the “Board”) at the 2023 annual meeting of shareholders (the “Annual Meeting”).
TYSONS, Va., May 01, 2023 (GLOBE NEWSWIRE) -- Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the first quarter ended March31, 2023 and provided an operational update.
NEW YORK, April 27, 2023 (GLOBE NEWSWIRE) -- RPT Realty (NYSE:RPT) (“RPT” or the “Company”) announced today that its Board of Trustees declared a second quarter 2023 regular cash dividend of $0.14 per common share.
LOS ANGELES, April 27, 2023 (GLOBE NEWSWIRE) -- In a move that reflects its bold, creative and forward-thinking culture, HOK’s Los Angeles studio has chosen to relocate its award-winning Southern California studio to ROW DTLA in the Arts District.
WASHINGTON, April 27, 2023 (GLOBE NEWSWIRE) -- Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with properties in the Washington DC metro area and the Sunbelt, reported financial and operating results today for the quarter ended March 31, 2023:
Financial Results
Net loss was $3.6 million, or $0.04 per diluted shareNAREIT FFO was $17.9 million, or $0.20 per diluted shareCore FFO was $21.5 million, or $0.24 per diluted share, up 20% from the prior year period driven by rental rate growth and the full deployment of our commercial sale proceedsNet Operating Income (NOI) was $36.3 million up 18% from the prior year period due primarily to the same factors as Core FFO growthOperational Highlights
Same-store multifamily NOI increased by 10.7% compared to the prior year periodEffective blended Lease Rate Growth was 4.5% during the quarter for our same-store portfolio, comprised of Effective new Lease Rate Growth of 0.7% and Effective renewal Lease Rate Growth of 8.0%Average Effective Monthly Rent per Home increased 9.7% compared to the prior year periodSame-store retention was 64% while achieving strong renewal lease rate growthSame-store multifamily Average Occupancy was 95.5% during the quarter, up 50 basis points from the prior quarterLiquidity Position
Available liquidity was more than $670 million as of March 31, 2023, consisting of availability under the Company's revolving credit facility and cash on handAnnualized first quarter net debt to EBITDA was 4.8xThe Company has no maturities until 2025 and no secured debtIn March, the Company executed swaps that will convert the interest rate on its $125 million term loan to a fixed 4.73% rate starting in July 2023 through maturity in January 2025.WINTER PARK, Fla., April 27, 2023 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced its operating results and earnings for the quarter ended March 31, 2023.
NAR issues updated annual forecasts for jobs, mortgage rates, housing starts, existing-home sales, newly constructed home sales, median existing-home prices and median new home prices
Pending Home Sales: March 2023
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