Strong Third Quarter Results
Reported AFFO of $0.33 per share, reflecting a 10% growth compared to last year. Increased 2025 AFFO guidance by $0.06, representing annual growth of 13% at the midpoint.
Successful Leasing Strategy
Implemented a programmatic leasing framework with the Postal Service, leading to improved predictability of long-term revenue growth. Updated 2025 same-store cash NOI guidance to a range of 8.5% to 9.5%.
Acquisition Activity
Completed $42.3 million of acquisitions at a weighted average cash cap rate of 7.7% in the quarter, with closed volume through October 17 exceeding $100 million.
Leadership Addition
Steve Bakke joined as Chief Financial Officer, bringing valuable experience from Realty Income.
Dividend Increase
Approved a quarterly dividend of $0.2425 per share, representing a 1% increase from the third quarter of 2024.