THE WOODLANDS, Texas, Aug. 01, 2023 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (NASDAQ: LGIH) today announced financial results for the second quarter 2023 and the six months ended June30, 2023.
Real Estate News
Second Quarter 2023 Highlights
Net income attributable to Landsea Homes of $4.9 million, or $0.12 per diluted shareTotal revenue of $293.2 millionPretax income of $7.5 millionAdjusted EBITDA of $27.0 millionTotal homes delivered of 539Net new home orders increased 5% to 565 with an order value of $324.4 millionQuarter-end homes in backlog of 722 for a total of $455.8 millionRepurchased 969,000 shares of common stock for $7.5 millionBook value per share of $16.77DALLAS, Aug.
WASHINGTON, July 31, 2023 (GLOBE NEWSWIRE) -- Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with communities in the Washington DC metro area and the Sunbelt, reported financial and operating results today for the quarter ended June 30, 2023:
Financial Results
Net loss was $2.6 million, or $0.03 per diluted shareNAREIT FFO was $18.8 million, or $0.21 per diluted shareCore FFO was $21.4 million, or $0.24 per diluted share, up 14% from the prior year period driven by rental rate growthNet Operating Income (NOI) was $36.3 million, up 11% from the prior year period driven by rental rate growthOperational Highlights
Same-store multifamily NOI increased by 10.9% compared to the prior year periodEffective blended Lease Rate Growth was 3.7% during the quarter for our same-store portfolio, comprised of effective new Lease Rate Growth of 0.4% and effective renewal Lease Rate Growth of 6.4%Average effective monthly rent per home increased 8.1% compared to the prior year periodSame-store retention was 63% while achieving strong renewal lease rate growthSame-store multifamily Average Occupancy was 95.6% during the quarter, up 10 basis points from the prior quarterSame-store multifamily Ending Occupancy was 95.9% as of June 30, 2023Liquidity Position
Available liquidity was more than $680 million as of June 30, 2023, consisting of availability under the Company's revolving credit facility and cash on handAnnualized second quarter net debt to EBITDA was 4.8xThe Company has no debt maturities until 2025, no secured debt, and minimal floating rate debtTransformation Update
Completed the successful transition of community-level operations to Elme management for our entire multifamily portfolioRetained 93% of our community-level team members during the internalization processCompleted the installation of smart home packages, which consist of smart locks, smart thermostats, leak detectors and smart plugs at 30% of our multifamily communities as of July 28, 2023.Courtside Moms event with Revive
Boca Raton, FL , July 31, 2023 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch, today announced the launch of new autonomous artificial intelligence (AI) email, which build on AI communication capabilities that were successfully implemented within the platform earlier this year.
NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has entered into an agreement to sell four Manhattan retail properties located at 510 Fifth Avenue, 148 – 150 Spring Street, 443 Broadway and 692 Broadway and that it has sold The Armory Show in New York for a combined sales price of $124.4 million.
NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) -- RPT Realty (NYSE:RPT) (“RPT” or the “Company”) announced today that its Board of Trustees declared a third quarter 2023 regular cash dividend of $0.14 per common share.
WINTER PARK, Fla., July 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 June 30, 2023.
Boca Raton, FL, July 27, 2023 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch, today announced that it has closed its previously announced initial public offering of 1,412,500 shares of common stock at a public offering price of $4.00 per share for aggregate gross proceeds of approximately $5.65 million, prior to deducting underwriting discounts, commissions, and other offering expenses.
Net Earnings per Diluted Share of $0.72 for the Quarter Increased by 18% Year-over-Year
Core FFO per Share of $1.96 for the Quarter, in line with Guidance
Same Property NOI Grew by 6.3% and 6.5%, for the Quarter and Year-to-Date over the 2022 Periods;Strong Demand and Effective Expense Management Drove Outperformance
Same Property Adjusted Occupancy for MH and RV Increased by 170 Basis Points, Year-over-Year
Solid Transient-to-Annual RV Site Conversions of over 750 Sites
Revising Full-Year Core FFO per Share Guidance for 2023 to $7.09 - $7.23
Increasing Guidance for Total Same Property NOI Growth to 5.3% - 6.1%
Southfield, MI, July 26, 2023 (GLOBE NEWSWIRE) -- Sun Communities, Inc.