Excluding the income related to insurance claim settlements, Q1 FFO was 59c. Reports Q4 revenue $157.28M, consensus $156.7M. “Our team performed well in a challenging economic environment that affected customer demand in 2023 relative to the robust leasing climate post-pandemic,” said Peter E. Baccile, CEO. “We did an exceptional job of capturing strong rental rate growth on leasing, achieving a new company record for annual cash rental rate growth of 58.3% for 2023 commencements. In the fourth quarter and thus far in 2024, we have seen tenant activity translate into some significant lease signings and we continue to realize more rental rate growth on our 2024 commencements that will contribute to cash flow growth.”
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