Portfolio consists of 151 properties totaling 17.7 million sq. ft. across 27 states, with 99.1% occupancy and a 7.5-year average lease term, the highest since Q1 2019.
Acquired a six-facility industrial portfolio for $54.5–$54.8 million, increasing industrial concentration to 69% of annualized straight-line rents.
Completed leasing activity on 14 properties totaling 734,000+ sq. ft., resulting in a $1.1 million annual increase in straight-line rents.
Capital recycling included sale of non-core industrial properties, with proceeds redeployed to acquisitions or debt repayment.
Portfolio is diversified by tenant, industry, and geography, with 53% of tenants investment grade or equivalent.
Q3 2025 lease/operating revenue was $40.8 million, up from $39.2 million in Q3 2024.
FFO and Core FFO per share were $0.35 for Q3 2025, down from $0.38 in Q3 2024; Core FFO rose 1.8% from Q2 2025.
Net income for Q3 2025 was $4.1 million, down from $11.7 million in Q3 2024.
Net assets increased to $1.27 billion due to acquisitions; real estate assets before depreciation grew to $1.4 billion.
Cash dividends maintained at $0.30 per share per quarter ($1.20 annualized).
Focus remains on acquiring high-quality industrial assets, extending tenant leases, and redeploying capital from non-core asset sales.
Anticipates further increase in industrial allocation beyond 70% of straight-line rent.
Expects capital expenditures to decrease as recent CapEx was driven by renewals and leasing activity.
Management expects stable business conditions through year-end 2025, with close monitoring of macroeconomic risks.
Plans to issue more equity and maintain leverage at current levels for future acquisitions.
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Search for any keyword across all transcripts simultaneously.
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
The easiest way to stay updated during earnings season.
All events from public companies. Live and recorded.
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage