Dafinchi AI

AKR

Financial Services

85% of executed leases in 2025 came from street and urban portfolio compared to 30% in 2024.
Balance sheet liquidity of approximately $600 million with net debt to EBITDA at 5.5x.
Executed approximately $7.5 million of new leases in first half of 2025, nearly 100% increase over $3.8 million in 2024.
FFO as adjusted for realized gains from Albertsons stock sales was $0.32 per share, in line with expectations.
New 5-year $250 million term loan executed at 120 basis points over SOFR, all-in cost about 4.6% after swaps.
Projected year-over-year NAREIT FFO growth of about 10% at the midpoint of 2025 guidance.
Reported NAREIT FFO of $0.27 per share in Q2 2025, an 8% increase over $0.25 in Q2 2024.
Same-store NOI growth reaffirmed at 5% to 6% for 2025, trending towards midpoint or slightly ahead.
Total core occupancy increased by 50 basis points to 92.2%, with expectation to reach 94% to 95% by year-end.

COMP

Financial Services

Adjusted EBITDA reached a record $126 million, up 63% from $77 million a year ago.
Commissions and related expenses as a percentage of revenue improved by 80 basis points to 81.84%.
Compass delivered all-time high revenue of $2.06 billion in Q2 2025, a 21.1% year-over-year increase.
Free cash flow hit a record $68 million, improving from $40.4 million in Q2 2024 despite a $28.75 million class action settlement payment.
GAAP net income was $39.4 million, a 90% increase from $20.7 million in the prior year quarter.
Market share rose to 6.09%, up 96 basis points year-over-year and 8 basis points sequentially.
Non-GAAP operating expenses increased to $250 million, driven by acquisitions including Christie's International Real Estate.
Total transactions increased 20.9% year-over-year, with organic transactions up 6.3%, outperforming the market decline of 0.9%.

MOFG

Financial Services

Allowance for credit losses ratio increased to 1.50% due to a single $24 million CRE office loan moving to nonaccrual, significantly increasing quarterly credit loss expense.
Loan growth was solid at 7.4%, with commercial loan production of $215 million, the highest in the last 6 quarters.
MidWestOne reported net income of $10 million or $0.48 per diluted common share for Q2 2025.
Net interest income increased by $2.5 million to $50 million compared to the linked quarter, driven by higher earning asset volumes and yields and lower funding costs.
Noninterest income was $10.2 million, slightly up from $10.1 million in the linked quarter, driven by wealth management, card revenue, mortgage origination fees, and SBA gain on sale revenue.
Outside the single loan, asset quality improved with a 32 basis point decrease in criticized asset ratio and net charge-offs of only 2 basis points.
Tax equivalent net interest margin and core net interest margin both expanded 13 basis points to 3.57% and 3.49%, respectively.
Total noninterest expense was $35.8 million, a decrease of $0.5 million from the linked quarter, helped by $1.1 million in tax credit funds and a $200,000 decrease in core data processing expense.

RMR

Financial Services

Interest expense was $1.1 million this quarter, expected to rise to $1.7 million next quarter due to leverage on upcoming residential acquisitions.
Next quarter guidance includes adjusted EBITDA of approximately $20.5 million, distributable earnings between $0.44 and $0.46 per share, and adjusted EPS between $0.21 and $0.23 per share.
Recurring cash compensation decreased by $3.5 million sequentially to $38.6 million due to cost containment measures; recurring G&A decreased by $1.2 million to $9.5 million.
Recurring service revenues were approximately $44 million, down $1.5 million sequentially due to lower property management fees at RMR Residential, partially offset by seasonal improvements in Sonesta-related fees.
RMR reported adjusted net income of $0.28 per share, distributable earnings of $0.43 per share, and adjusted EBITDA of $20.1 million for Q3 2025, all in line with expectations.

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