Revenue: As of FY2025 Q1, the actual value is USD 37.5 M.

EPS: As of FY2025 Q1, the actual value is USD 0.04.

Segment Revenue

• Lease Revenue: $37,501 for the three months ended March 31, 2025, compared to $35,721 for the same period in 2024, representing a 5.0% increase.

Operational Metrics

• Net Income: $5,136 for the three months ended March 31, 2025, compared to $3,526 for the same period in 2024, representing a 45.7% increase.
• Depreciation and Amortization: $13,243 for the three months ended March 31, 2025, compared to $13,326 for the same period in 2024.
• Property Operating Expenses: $6,900 for the three months ended March 31, 2025, compared to $5,884 for the same period in 2024, representing a 17.3% increase.
• General and Administrative Expenses: $885 for the three months ended March 31, 2025, compared to $1,047 for the same period in 2024, representing a 15.5% decrease.

Cash Flow

• Net Cash Provided by Operating Activities: $17,684 for the three months ended March 31, 2025, compared to $15,023 for the same period in 2024.
• Net Cash Used in Investing Activities: $75,644 for the three months ended March 31, 2025, compared to net cash provided by investing activities of $18,468 for the same period in 2024.
• Net Cash Provided by Financing Activities: $58,247 for the three months ended March 31, 2025, compared to net cash used in financing activities of $34,708 for the same period in 2024.

Unique Metrics

• Acquisition Activity: Acquired six industrial properties during the three months ended March 31, 2025, with an aggregate purchase price of $73,725 and aggregate capitalized acquisition expenses of $475.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue investing in industrial properties and refinancing upcoming loan maturities. It aims to maintain a conservative liquidity position and believes it has adequate liquidity to cover near-term obligations.
• Non-Core Business: The company sold two non-core properties in April 2025, realizing gains on sales, and continues to focus on re-leasing vacant space and renewing upcoming lease expirations.