Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| We're projecting a 3-plus percent increase in FFO per share at the midpoint, primarily driven by improved portfolio operations, leasing and same-store NOI growth |
| So I think it’s going to be very interesting for us to be able to take advantage of the properties we buy in our markets at fairly attractive cap rates, and as I said, drop them into our property management and get right after them |
| Second, our balance sheet is the strongest it's been in the history of the company, that's 7 straight quarters of reducing leverage to 6.5x and a half turn ahead of where we thought we could be at year-end |
| Together with a better recognition of the value we've created in our portfolio, we anticipate this could help provide an attractive total return to our investors while maintaining an FFO payout ratio of 50% to 51% based on our 2024 guidance |
| It's -- we're not going to benefit from Ford's manufacturing facilities, but we are going to benefit from all the ancillary services that are provided to Ford |
| We continue to improve the quality of the buildings as we go forward |
| First, the Golden Triangle is a region that we believe can continue to benefit from onshoring and near-shoring of manufacturing to the U.S., Mexico and Canada as well as the complementary wave of suppliers and distributors |
| Louis property coupled with savings in interest and general expenses |
| And we're starting to see some benefits in Jackson as well |
| So we’re really starting to see a lot of opportunities |
| And as I mentioned, the upper bound -- to the extent that there's some acceleration around the remaining development square footage, there could be an incremental pickup above the midpoint |
| And as you know, the JV we did in Memphis a few years back has worked out significantly for us |
| You noted a $500 million pipeline and a pure-play, potential opportunities, but also noted you're also seeing an increase in JV opportunities |
| And again, really within our markets, we're seeing opportunities start to percolate across all of our markets |
| Louis property, but this outcome is buffered by about 125 bp improvement in portfolio expense recovery |
| We believe this will provide for an efficient use of time during a busy earnings week |
| We also thought it might be even more beneficial for you to read through our prepared commentary ahead of time |
| And lastly, I'd like to highlight the Board's decision to increase our dividend by 6.7% effective with the first quarter |
| Good morning |
| Obviously -- I think there were some expenses that hit in 3Q and then you were able to collect in 4Q and had an acceleration |
| And then, again, anything heavy value add – we are starting to see some value-add deals, maybe small portfolios, pop-up that could be very attractive in a JV for us |
| We like the fee income |
| Mitch Germain Great |
| Mitch Germain Great |
| It’s going to be very interesting to see where those trade |
| Good morning, and thank you for joining us today |
| Third, we're focused on accretive growth in 2024 that translates into FFO growth |
| Statement |
|---|
| Last year, there were some cadence issues with regards to the same property growth |
| And so we held the midpoint because there could be the possibility that, that is less disruptive than we accounted for on the downside, Mike |
| But if all of those did not come to fruition, we’re talking about less than 10 bps in terms of a write-off |
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