GuidanceCPT's FY25 Core FFO guidance is slightly below consensus, with additional non-core charges affecting the expected growth.
Lease RatesNew lease rates were down 3.1% during the first quarter of 2025 and renewals up 3.3%, for a blended rate down 0.1%.
Market ChallengesSome markets like Austin and Nashville, representing 6% of the company's portfolio, saw a decrease of ~3% in revenue, and is expected to persist going into 2025 due to supply pressures.