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Net Operating Income by Segment
Breaks down operating profit (revenues minus property-level expenses) across business lines or regions, revealing which segments drive cash generation and where margins are highest or weakest. Useful for spotting durable income sources and segments that may need operational fixes or capital.Multifamily is the predictable earnings driver, hovering back near prior peaks, but underlying same‑store NOI and occupancy headwinds — amplified by Colorado RUBS losses — mean rent spread gains haven’t fully flowed to sustainable NOI. The “Other” line is extremely lumpy: large, likely one‑time inflows in 2025 materially boosted NOI but largely normalized in Q1 2026. Management’s strategic review, a recorded impairment, and guidance that assumes no dispositions mean investors should normalize out Other and weigh core NOI versus occupancy/RUBS trends when modeling FFO.
Date | Multifamily | Other |
|---|---|---|
Jun 30, 2026 | $40.23M | $622.00K |
Mar 31, 2026 | $38.86M | $635.00K |
Dec 31, 2025 | $37.13M | $4.85M |
Sep 30, 2025 | $38.80M | $4.23M |
Jun 30, 2025 | $37.67M | $4.35M |
Mar 31, 2025 | $39.85M | $509.00K |
Dec 31, 2024 | $39.60M | $484.00K |
Sep 30, 2024 | $38.03M | $339.00K |
Jun 30, 2024 | $39.51M | $341.00K |
Mar 31, 2024 | $38.78M | $659.00K |