Real Estate [ 11/12 ] | Diversified REITs [ 68/74 ]
NYSE | Common Stock
We are a REIT focused on the acquisition, ownership, and operation of industrial properties throughout the United States.
Our platform is designed to (i) identify properties for acquisition that offer attractive returns across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants, (ii) provide growth through our ownership of high-quality assets, property management and pursuit of acquisitions in an attractive opportunity set, and (iii) capitalize our business appropriately given the characteristics of our assets.
We are organized and conduct our operations to maintain our qualification as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"), and generally are not subject to federal income tax to the extent we currently distribute our income to our stockholders and maintain our qualification as a REIT.
We remain subject to state and local taxes on our income and property and toU. S. federal income and excise taxes on our undistributed income.
As of December 31, 2024, we owned 591 buildings in 41 states with approximately 116.6 million rentable square feet.
As of December 31, 2024, we had 11 development projects (which are not included in the building count noted above).
As of December 31, 2024, our buildings were approximately 96.5% leased, with no single tenant accounting for more than approximately 2.9% of our total annualized base rental revenue and no single industry accounting for more than approximately 11.3% of our total annualized base rental revenue.
We intend to maintain a diversified mix of tenants to limit our exposure to any single tenant or industry.
As of December 31, 2024, our Operating Portfolio was approximately 97.3% leased.
Straight-line Rent Change on new and renewal leases together grew approximately 41.8% and 44.0% during the years ended December 31, 2024 and 2023, respectively, and our Cash Rent Change on new and renewal leases together grew approximately 28.3% and 31.0% during the years ended December 31, 2024 and 2023, respec
| Reported date | EPSChange YoY | EstimateSurprise |
|---|---|---|
| Feb 11, 25 | 0.21 Decreased by -6.65% | 0.21 Increased by +2.24% |
| Oct 29, 24 | 0.21 Decreased by -25.00% | 0.17 Increased by +23.53% |
| Jul 30, 24 | 0.32 Increased by +10.34% | 0.21 Increased by +52.38% |
| Apr 30, 24 | 0.20 Decreased by -28.57% | 0.19 Increased by +5.26% |
| Feb 13, 24 | 0.23 Increased by +35.29% | 0.19 Increased by +21.05% |
| Oct 26, 23 | 0.28 Decreased by -20.00% | 0.18 Increased by +55.56% |
| Jul 26, 23 | 0.29 Increased by +61.11% | 0.17 Increased by +70.59% |
| Apr 26, 23 | 0.28 Decreased by -6.67% | 0.16 Increased by +75.00% |
| Fiscal ending date | RevenueChange YoY | IncomeChange YoY | ProfitChange YoY |
|---|---|---|---|
| Dec 31, 24 | 199.32 M Increased by +8.74% | 50.95 M Increased by +22.10% | Increased by +25.56% Increased by +12.28% |
| Sep 30, 24 | 190.74 M Increased by +6.39% | 41.81 M Decreased by -16.44% | Increased by +21.92% Decreased by -21.46% |
| Jun 30, 24 | 189.78 M Increased by +10.53% | 59.78 M Increased by +15.85% | Increased by +31.50% Increased by +4.81% |
| Mar 31, 24 | 187.54 M Increased by +8.06% | 36.63 M Decreased by -47.37% | Increased by +19.53% Decreased by -51.30% |
| Dec 31, 23 | 183.31 M Increased by +7.80% | 41.73 M Increased by +377.71% | Increased by +22.77% Increased by +343.13% |
| Sep 30, 23 | 179.28 M Increased by +7.80% | 50.04 M Increased by +14.87% | Increased by +27.91% Increased by +6.55% |
| Jun 30, 23 | 171.69 M Increased by +6.31% | 51.61 M Increased by +239.78% | Increased by +30.06% Increased by +219.61% |
| Mar 31, 23 | 173.55 M Increased by +9.01% | 69.59 M Increased by +89.48% | Increased by +40.10% Increased by +73.82% |