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As one door closes, another opens? Making the most of a disparate yet diverse property sector
Deep Dive into property
Ben Newton
UK property is a diverse asset class both by fund structure and underlying strategies. The pandemic has accelerated trends which have had wide-ranging implications for the property market.
The property market has had a tumultuous time since 2016 and one can hope the recent EU trade deal provides some stability in the future. We have invested in property through real estate investment.
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SALT LAKE CITY, Feb. 22, 2021 /PRNewswire/ Extra Space Storage Inc. (NYSE: EXR) (the Company ), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, announced operating results for the three months and year ended December 31, 2020.
Highlights for the three months ended December 31, 2020:
Achieved net income attributable to common stockholders of $1.19 per diluted share, representing a 38.4% increase compared to the same period in 2019.
Achieved funds from operations attributable to common stockholders and unit holders ( FFO ) of $1.48 per diluted share. FFO, excluding acceleration of share-based compensation expense due to retirement of an executive officer and adjustments for non-cash interest ( Core FFO ), was $1.48 per diluted share, representing a 16.5% increase compared to the same period in 2019.
NEW YORK, Feb. 18, 2021 (GLOBE NEWSWIRE)
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”) today reported financial results for the three months ended November 30, 2020 (the “2020 fourth quarter”) and the twelve months ended November 30, 2020 (“fiscal 2020”).
2020 Fourth Quarter & Recent Highlights
Net Loss of ($11.1) million and ($12.7) million for the 2020 fourth quarter and fiscal 2020, respectively, an increase of 328% in net loss compared to the three months ended November 30, 2019 (the “2019 fourth quarter”) and a decrease of 447% from net income during the twelve months ended November 30, 2019 (“fiscal 2019”)
Net Operating Income (“NOI”) of $7.1 million and $26.9 million for the 2020 fourth quarter and fiscal 2020, respectively (respective increases of 12.6% and 11.1% over the 2019 fourth quarter and fiscal 2019)
Select Highlights Announced successful completion of the Company s real estate investment trust ( REIT ) conversion and payment of the previously declared special distribution on the Company s shares of common stock through an aggregate of $5.6 million in cash and the issuance of 1,198,963 shares of the Company s common stock. Reported Net Income per diluted share of $16.60 and $16.69 for the quarter and year ended December 31, 2020, respectively. Reported FFO per diluted share of $2.11 and $5.84 for the quarter and year ended December 31, 2020, respectively. Reported AFFO per diluted share of $2.20 and $5.57 for the quarter and year ended December 31, 2020, respectively. Paid a regular cash dividend for the fourth quarter of 2020 of $1.00 per share on November 30, 2020 to shareholders of record as of November 16, 2020.