VIRGINIA BEACH, Va., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE: AHH) announced that its Board of Directors declared the cash dividend of $0.205 per common share, representing a 5% increase over the prior quarter’s dividend.
Real Estate News
PLANT CITY, Fla., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc., dba EP3OIL, (OTC: HIHI) – operating in the Secondary Recovery of Oil & Gas Industry – has accepted a Letter of Intent to enter into a Joint Venture wherein it will receive $2.5 million from a highly experienced international oil company - Supeca Oil - to develop the Drummond Oil Field located in West Texas.
NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (“Silver Spike” or the “Company”) (Nasdaq: SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that the board of directors of Silver Spike has unanimously approved an expansion of Silver Spike’s investment strategy to permit investments in companies outside of the cannabis and health and wellness sectors that otherwise meet the Company’s current investment criteria.
THE WOODLANDS, Texas, Feb. 20, 2024 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the fourth quarter and year ended December31, 2023.
NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (the “Company”) (Nasdaq: SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that it entered into a definitive agreement with Chicago Atlantic Loan Portfolio, LLC (“CALP”) for the purchase (the “Loan Portfolio Acquisition”) from CALP of a sizeable portfolio of loans (the “CALP Loan Portfolio”).
NASHVILLE, Tenn., Feb. 16, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced results for the fourth quarter ended December31, 2023. The Company reported net income (loss) attributable to common stockholders of $(40.5) million, or $(0.11) per diluted common share, for the quarter ended December31, 2023.
Enters Into Cooperation Agreement with Land & Buildings
Southfield, MI, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”) announced today that Jerry Ehlinger and Craig A.
NASHVILLE, Tenn., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc.(NYSE: RHP) (“RHP”), a leading lodging and hospitality real estate investment trust that specializes in group-oriented, upscale convention center resorts and country music entertainment experiences, announced today it will present virtually to investors attending theWolfe Research 4th Annual Real Estate Conference onThursday, February 29, at4 p.m.
TACOMA, Wash, Feb. 16, 2024 (GLOBE NEWSWIRE) -- As previously announced, on December 11, 2023, Harbor Custom Development, Inc. (OTC PK: HCDIQ, HCDPQ, HCDWQ, HCDZQ) (collectively with certain of its wholly owned subsidiaries described below, “the Company”) voluntarily filed for protection under Chapter 11 of the United States Bankruptcy Code in the Western District of Washington at Tacoma.
BETHESDA, Md., Feb. 15, 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 and year ended December 31, 2023:
Full-Year 2023 Financial and Operational Results
Net loss was $53.0 million, or $0.61 per diluted shareNAREIT FFO was $77.8 million, or $0.88 per diluted share, up 27.9% compared to the prior yearCore FFO was $85.2 million, or $0.97 per diluted share, up 10.2% compared to the prior yearNet Operating Income (NOI) was $148.1 million, up 9.4% compared to the prior yearSame-store multifamily NOI increased by 8.3% compared to the prior year periodAverage Effective Monthly Rent per Home increased 6.5% compared to the prior year for our Same-Store PortfolioSame-store multifamily Average Occupancy was 95.6% during the year, up 0.2% compared to the prior yearFourth Quarter Financial Results
Net loss was $3.1 million, or $0.04 per diluted shareNAREIT FFO was $21.0 million, or $0.24 per diluted share, up 14.3% compared to the prior year periodCore FFO was $20.9 million, or $0.24 per diluted share, unchanged compared to the prior year periodNet Operating Income (NOI) was $38.6 million, up 4.6% compared to the prior year periodFourth Quarter Operational Highlights
Same-store multifamily NOI increased by 4.5% compared to the prior year periodEffective blended Lease Rate Growth was 2.5% during the quarter for our Same-Store Portfolio, comprised of effective new Lease Rate Growth of (2.4)% and effective renewal Lease Rate Growth of 6.2%Average Effective Monthly Rent Per Home increased 3.8% compared to the prior year period for our Same-Store PortfolioSame-store Retention was 65% while achieving strong renewal Lease Rate GrowthSame-store multifamily Average Occupancy was 95.5% during the quarter, up 0.5% compared to the prior year periodSame-store multifamily Ending Occupancy was 95.9%, up 0.7% compared to the prior year periodLiquidity Position
Available liquidity was approximately $550 million as of December 31, 2023, consisting of availability under the Company's revolving credit facility and cash on handAnnualized fourth quarter Net Debt to Adjusted EBITDA ratio was 5.5xThe Company has no debt maturities until 2025 and no secured debt"We delivered solid fourth quarter performance, closing out a year of exceptional growth," said Paul T.