- #Excel trendline pro forma financial statements full#
- #Excel trendline pro forma financial statements pro#
- #Excel trendline pro forma financial statements plus#
*Amounts are presented on a rounded basis and the sum of the individual amounts may not foot please refer to Supplemental Schedule 6.Ĭomponents of Same Store Revenue Growth – The table below summarizes the change in the components of our Same Store revenue growth. These properties contribute approximately 98% of AIR’s GAAP revenue. The table below includes the operating results of the 92 properties of AIR that meet our Same Store definition.
#Excel trendline pro forma financial statements pro#
Pro forma Funds From Operations (Pro forma FFO)ĪIR Operating Results: Third Quarter Same Store Revenue Up 5.4% Sequentially More importantly, the strong finish to peak leasing season will provide a boost to 2022 revenue and NOI growth."įinancial Results: Third Quarter Pro Forma FFO Per Share At the mid-point, we expect NOI growth of 1.1% and FFO per share of $2.14.
#Excel trendline pro forma financial statements full#
"For the third time this year, we are increasing our full year Same Store and FFO per share expectations. For the quarter, revenue and NOI grew sequentially by 5.4% and 7.9%, respectively.” In the past 10 months, the hard work of the entire AIR team, guided by the engaged AIR Board led by Chairman Tom Keltner has accomplished our initial goals and positioned the company for accretive growth.”Ĭhief Financial Officer Paul Beldin adds: “Third quarter FFO of $0.56 per share was $0.03 above the midpoint of our guidance range due to better than anticipated Same Store results. After their election, the AIR board will be refreshed, and continue to be diverse and highly capable.” Their remarkable accomplishments are included in the proxy statement filed earlier this week. “During the third quarter, we also nominated three new directors: Tom Bohjalian, Kristin Finney-Cooke, and Maggie Paláu-Hernández. “We strengthened our senior management team when John McGrath rejoined us as EVP Strategy and Capital Markets and again when Joshua Minix joined as an EVP, and with John, co-Chief Investment Officer.” “The result of $1.7 billion of sales and $750 million of property purchases will be a portfolio with higher quality, faster growth, and less exposure to regulatory risk.” Compared to the properties sold in the paired trade, we expect to earn a somewhat higher return during 2022 and to increase longer-term returns by 50% through select capital investments and the value created by our operating platform."
#Excel trendline pro forma financial statements plus#
“We used $382 million of sales proceeds plus $128 million of operating partnership units to acquire for $510 million a four-property portfolio in or near to Washington, D.C. De-levering further to 5.3:1 will result in additional dilution of $0.01 per share per quarter until the $380 million of borrowing capacity is reinvested." "The net of property sales, property acquisitions, debt refinancing, and de-levering to our target of 5.5:1 will result in FFO dilution of $0.01 per share per annum. $1.1 billion will be used to repay debt with a weighted-average interest expense of 3.72%." The current yield on the $1.7 billion total is 4.36% and the expected sales prices average 15% above pre-COVID values. We decided that it was an opportune time to sell properties selectively to improve our portfolio, harvest gains, and reduce leverage. “Fueled by increasing rents and low interest rates, property values have appreciated above their pre-COVID levels. Our property operations team continues to excel: raising rents, increasing occupancy, and, notwithstanding inflationary times, reducing costs.”
Customer demand has recovered, and rents are at or above long-term trendlines.
for $510 million.Ĭhief Executive Officer Terry Considine comments: “It is a good time for the multi-family business.
(“AIR”) (NYSE: AIRC) announced today third quarter results for 2021 an increase to full year Same Store Revenue, NOI, and FFO guidance $1.7 billion of property sales closed, under contract, or in negotiation with proceeds to be used to reduce year-end net leverage to EBITDAre to 5.3:1, and the acquisition of a four property portfolio in Washington, D.C.
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