Operating Cash Flow ConsistencyConsistent positive operating cash flow shows the REIT's rental portfolio generates recurring cash to fund operations, maintenance, and debt service. That durability supports ongoing asset management and reduces near‑term reliance on external financing for strategic actions.
Improving Free Cash FlowA material improvement to positive free cash flow (~$11.6M TTM) enhances the company's ability to reinvest in redevelopment, service or reduce debt, and absorb tenant turnover. Sustained FCF gives management optionality to fund capex or strategic exchanges without immediate market raises.
Capital Structure SimplificationActive exchanges that retire preferred shares materially simplify the capital structure, reducing fixed preferred claims and future cash/convertible obligations. This structural change improves long‑term financial flexibility and lowers priority claims on cash flow, despite common share dilution.