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Company Raises Full-Year Guidance Amid Strong Growth
4 Aug
Summary
- Core FFO per share grew 5.4%, surpassing long-term targets.
- Portfolio occupancy remained strong at 98% with long leases.
- Full-year guidance raised, reflecting confidence in performance.
As of August 4, 2026, the company reported strong financial performance for the second quarter of 2026. Total revenue reached $92.4 million, a 10% increase year-over-year, while EBITDA stood at $58.4 million. Net income was reported at $0.07 per fully diluted share.
Key performance indicators showed significant improvement. Core FFO per share grew by 5.4% to $0.78, outperforming the company's long-term target range of 2% to 3%. This growth was underpinned by a high portfolio occupancy rate of 98% and a weighted average lease term of 9.2 years, indicating stable tenant relationships.
Further demonstrating confidence in its trajectory, the company has raised its full-year core FFO per share guidance to a range of $3.07 to $3.13, with a midpoint of $3.10. This upward revision is supported by a robust $1.5 billion acquisition and development pipeline.
Financially, the company enhanced its liquidity by closing a new $200 million unsecured term loan. It also reported a Net Debt to Annualized Quarterly EBITDA ratio of 7.3 times, a decrease from the previous quarter. The company is also progressing towards securing an additional investment-grade rating, which is expected to lower future borrowing costs.
