The company said total revenues were $660.3 million for the 3-month period ended September 30, 2024, compared with $617.7 million a year earlier. Rental revenues and other property income rose 4.4% to $641.3 million.

1. 01

   The company said total revenues were $660.3 million for the 3-month period ended September 30, 2024, compared with $617.7 million a year earlier. Rental revenues and other property income rose 4.4% to $641.3 million.

2. 02

   Management fee revenues for Q3 2024 were $19.0 million, compared with $3.4 million a year earlier, the company said. It said it provided property and asset management services for 25,535 homes (3,656 a year earlier), of which 7,619 were owned by its unconsolidated joint ventures.

3. 03

   The company said casualty losses, impairment, and other expenses were $20.9 million for Q3 2024, compared with $2.5 million a year earlier. Of this amount, $20.6 million was net casualty losses for storm-related repairs in excess of amounts recoverable from insurance, and impairment losses were $0.3 million.

4. 04

   The company said it entered into an amended and restated $3,500.0 million senior unsecured credit facility on September 9, 2024 and fully repaid its 2020 Term Loan Facility. It also issued $500.0 million of 4.88% Senior Notes on September 26.

Key figures

Quarter ended September 30, 2024

Revenue

$660M

Net income

$95M

EPS

$0.15

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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