Real Estate [ 3/12 ] | Diversified REITs [ 16/72 ]
NYSE | Common Stock
We are a REIT focused on the acquisition, ownership and operation of industrial properties throughout the United States.
We seek to (i) identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of our proprietary risk assessment model, (ii) operate our properties in an efficient, cost-effective manner, 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, 2022, we owned 562 buildings in 41 states with approximately 111.7 million rentable square feet, consisting of 484 warehouse/distribution buildings, 74 light manufacturing buildings, one flex/office building, and three Value Add Portfolio buildings.
While the majority of our portfolio consists of single-tenant properties, we also own multi-tenant properties and may re-lease originally single-tenant properties to multiple tenants.
As of December 31, 2022, our buildings were approximately 98.5% leased, with no single tenant accounting for more than approximately 3.0% of our total annualized base rental revenue and no single industry accounting for more than approximately 10.9% of our total annualized base rental revenue.
We intend to maintain a diversified mix of tenants to limit our exposure to any single tenant.
As of December 31, 2022, our Operating Portfolio was approximately 99.0% leased and our SL Rent Change on new and renewal leases together grew approximately 24.3% and 17.6% during the years ended December 31, 2022 and 2021, resp
| Reported date | EPSChange YoY | EstimateSurprise |
|---|---|---|
| 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% |
| Feb 15, 23 | 0.17 Decreased by -66.00% | 0.17 |
| Oct 27, 22 | 0.35 Increased by +16.67% | 0.16 Increased by +118.75% |
| Fiscal ending date | RevenueChange YoY | IncomeChange YoY | ProfitChange YoY |
|---|---|---|---|
| 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% |
| Dec 31, 22 | 170.04 M Increased by +15.18% | 8.74 M Decreased by -89.88% | Increased by +5.14% Decreased by -91.21% |
| Sep 30, 22 | 166.31 M Increased by +17.02% | 43.56 M Decreased by -10.21% | Increased by +26.19% Decreased by -23.27% |
| Jun 30, 22 | 161.50 M Increased by +16.67% | 15.19 M Decreased by -53.48% | Increased by +9.40% Decreased by -60.13% |
| Mar 31, 22 | 159.21 M Increased by +18.82% | 36.73 M Increased by +47.65% | Increased by +23.07% Increased by +24.27% |
| Dec 31, 21 | 147.62 M Increased by +13.60% | 86.29 M Decreased by -10.16% | Increased by +58.45% Decreased by -20.92% |