Reports Q1 revenue $212.0M, consensus $207.3M. Terry Considine, CEO, comments: "AIR’s first quarter results were on plan. In our Same Store portfolio, revenue was up 10.1%; expenses were up 3.3%; and Net Operating Income was up 12.7%. Profitability leads all peers: margin widened to 73.9%; conversion of revenue to Free Cash Flow improved to 66.2%; and controllable operating expenses were down 20-basis points. Rental rate increases in Signed New Leases, a key forward indicator, remain strong."
Published first on TheFly
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