Q: What is your take on q2 and did they beat expectations? I have owned shares for a long time and they appear to be a pretty good operator. What is your take? I’m don’t have a large reit allocation currently given industry headwinds but I may add if continues to drift and if operational performance continues. Thanks
5i Research Answer:
Cash flow per share of 32c beat estimates of 31c; revenue of $95.6M matched estimates. EBITDA nicely beat estimates. Net operating income rose 6.9%. Cash flow rose from 30c last year. Strong leasing helped the results and KMP forecast operating income growth of 6% for all of 2025. Payout ratio fell to 69% from 73%. Occupance slipped slightly but is still very good at 97.5%. We remain quite comfortable here.