Q: Could you comment on results and forward?
5i Research Answer:
In Q4 KMP.UN reported net operating income (NOI) of $56.5M, compared to $53.2M in the year prior. In Q4 recorded a 5.4% increase in same property revenue and an 8.8% increase in same property NOI year-over-year. KMP.UN Achieved 98.5% same property apartment occupancy in the quarter. Funds from operations (FFO) per unit (diluted) was $0.28, a 3.7% increase year-over-year, and adjusted FFO (AFFO) per unit (diluted) was $0.23 which was flat over the year prior. This was a solid quarter for KMP.UN and in 2023 as a whole the REIT was able to add new units and strengthen its balance sheet which were all positives.