Strong Financial Performance in Q1 2025
Net income for the three months ended March 31, 2025, was $2.1 million, or $0.03 per share, which was higher than the same period in 2024 due to higher interest income on loans and gains on property dispositions.
Decrease in Interest Expense
Interest expense decreased by $2.4 million for Q1 2025 compared to the same period in 2024 due to reductions in debt of $189.4 million in Q4 2024.
Increase in Solar, Wind, and Recreation Revenue
Revenue from solar, wind, and recreation increased due to proceeds from a solar lease arrangement with a tenant.
Guidance Raised for 2025
The forecasted range of AFFO is $13.3 million to $15.9 million, or $0.28 to $0.34 per share, which is an increase of $0.03 and $0.04 on the low and high end of the range, respectively, from the last quarter.