Increase in Normalized FFO
Normalized FFO for Q1 2025 increased to $0.23 per diluted share from $0.22 last year, a 5% increase.
Dividend Increase
The company increased its common stock dividend by $0.04 per share annually to $0.90, marking a 4.7% increase over last year.
Rental and Related Revenue Growth
Rental and related revenue increased by 8% in Q1 2025 compared to the previous year.
Strong Sales Pipeline
April home sales closed at $4.4 million, with a strong sales pipeline of $4.4 million, indicating robust demand.
Successful Acquisition
Acquisition of two communities in Mantua, New Jersey, for $24.6 million, with potential for rent increases through vacancy decontrol.