The company said diluted net income per share for Q4 2023 was $1.02, down 64.3% from $2.86 a year earlier, while Core FFO was $3.83, up 1.6%. Full-year net income was $6.32, and full-year Core FFO was $15.03, up 3.6%.

1. 01

   The company said diluted net income per share for Q4 2023 was $1.02, down 64.3% from $2.86 a year earlier, while Core FFO was $3.83, up 1.6%. Full-year net income was $6.32, and full-year Core FFO was $15.03, up 3.6%.

2. 02

   Same-property revenue for Q4 2023 rose 2.9% year over year, and same-property NOI rose 2.3%, the company said. Full-year same-property revenue for 2023 rose 4.4%, and NOI rose 4.3%.

3. 03

   The company said it recognized a $33.7 million impairment on 1 preferred equity investment located in Oakland, California, in Q4 2023. It said the impairment does not affect Total FFO or Core FFO, and that the investment is not currently in default.

4. 04

   The company said it expects full-year 2024 diluted Core FFO per share in a range of $14.76 to $15.30, with a midpoint of $15.03. Its Core FFO outlook for Q1 2024 is $3.68 to $3.80.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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