The company said its full-year 2026 Core FFO per share outlook is $8.35 to $8.71 (midpoint $8.53), and that the midpoint for same-store property revenue growth is 0.55% and the midpoint for property NOI growth is -0.70%.

1. 01

   The company said its full-year 2026 Core FFO per share outlook is $8.35 to $8.71 (midpoint $8.53), and that the midpoint for same-store property revenue growth is 0.55% and the midpoint for property NOI growth is -0.70%.

2. 02

   For Q4 2025, the company reported same-store blended lease pricing change of -1.7%, with new lease pricing change of -8.1% and renewal pricing change of 4.7%, and average daily physical occupancy of 95.7%. It also said blended lease-over-lease pricing has improved year over year for 4 consecutive quarters.

3. 03

   As of December 31, 2025, the company had 2,522 units in active development, with expected costs of $932.0. It expects 2026 development funding of $350M to $450M (midpoint $400M). The company also said it expects to maintain its 2026 development pipeline at approximately $1 billion to $1.2 billion.

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. Some paragraphs were omitted because their support in the source could not be confirmed.

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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