What changed
Core FFO of $0.49 beat consensus by $0.01 (2.1%), while GAAP EPS of $0.31 missed estimates by $0.01 (3.1%). Revenue rose 2.8% YoY to $470.1M, driven by higher rental rates, and the company raised its full-year Core FFO guidance midpoint to $1.95, implying 4.3% growth. The beat was supported by strong expense controls and 2.7% same-home NOI growth, with occupancy steady at 96.0% and blended lease spreads of 2.7%.
Why it matters
Core FFO of $0.49 beat consensus by $0.01 (2.1%), while GAAP EPS of $0.31 missed estimates by $0.01 (3.1%). Revenue rose 2.8% YoY to $470.1M, driven by higher rental rates, and the company raised its full-year Core FFO guidance midpoint to $1.95, implying 4.3% growth. The beat was supported by strong expense controls and 2.7% same-home NOI growth, with occupancy steady at 96.0% and blended lease spreads of 2.7%.
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Jul 30, 2026 09:09 PM ET