Raised 2025 AFFO Guidance
The company raised its full-year AFFO guidance, expecting mid-5% year-over-year growth, supported by positive business trends.
Strong Investment Activity
Year-to-date investments reached $1.65 billion at attractive initial cap rates averaging in the mid-7s, with expectations to increase this to $1.8 billion to $2.1 billion by year-end.
Increased Dividend
The quarterly dividend was increased by 4% year-over-year to $0.91 per share, with an annualized dividend yield of 5.4%.
Improved Portfolio Performance
Contractual same-store rent growth was 2.4% year-over-year for the quarter, with the full year expected to average around 2.5%.
Strong Balance Sheet and Liquidity
The company ended the third quarter with liquidity totaling about $2.1 billion, with key leverage metrics within target ranges.