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Chatham Lodging Trust

CLDT

Financial Services

2mo

Strategic Hotel Asset Sales and Portfolio Optimization

Sold 5 hotels with an average age of 25 years at a 6% cap rate on 2024 NOI levels for $83 million.
Currently have 2 additional hotels listed for sale, focusing on opportunistic transactions.
Sales targeted at low RevPAR hotels to enhance portfolio value and reduce leverage.
Proceeds from sales to fund development, acquisitions, share repurchases, and shareholder value initiatives.

Chatham Lodging Trust

CLDT

Financial Services

2mo

Home2 Phoenix RevPAR Growth

Over 60% increase in Q2 2025

At our Home2 in Phoenix, RevPAR was up over 60% in the quarter.

CTO Realty Growth, Inc.

CTO

Financial Services

2mo

Progress on Anchor Space Mark-to-Market Opportunity and Leasing Strategy

Full control of 10 anchor spaces vacated by Party City and JOANN's as of Q2 2025.
Six of the 10 anchor spaces leased with new tenants including Burlington, Boot Barns, Bassett Furniture, Slick City Action Park, and Bob's Discount Furniture.
Targeting a 40% to 60% positive cash leasing spread on these anchor spaces.
Overall leasing pipeline of $4.6 million, representing 4.6% of in-place cash rents, supporting earnings growth into 2026.

TrustCo Bank Corp NY

TRST

Financial Services

3mo

Strategic Capital Deployment for Lending in Favorable Rate Environment

TrustCo's strategy over recent years has been to amass capital specifically to lend out during periods of favorable interest rates.
The company has capitalized on rising loan demand and competitive borrowing conditions to increase lending activities.
This approach has supported margin expansion and loan growth, with a focus on community lending.

Elme Communities

ELME

Financial Services

2mo

Strategic Portfolio Sale to Cortland

Elme announced a definitive agreement to sell a portfolio of 19 assets to Cortland, an Atlanta-based multifamily firm, expected to close in Q4 2025 pending shareholder approval.
The sale is part of a broader strategic review process initiated in February, culminating in a plan of sale and liquidation for remaining assets.
The transaction is valued at approximately $1.6 billion in cash, subject to adjustments, representing a significant liquidity event for Elme.
This sale reflects a shift from the company's previous diversification efforts, focusing solely on multifamily assets after divesting office and retail portfolios in 2021.
Management emphasizes that the sale aims to maximize shareholder value amid challenging market conditions for lowering the cost of capital.

Veris Residential, Inc.

VRE

Financial Services

3mo

Accelerated Non-Strategic Asset Sales and Early Debt Reduction

Veris Residential has executed or completed approximately $450 million of non-strategic asset sales year-to-date, surpassing the initial target of $300-$500 million by 2026.
Recent sales include Signature Place in New Jersey for $85 million and 145 Front Street in Worcester for $122 million, both at a cap rate of 5.1%.
Additional binding contracts for $180 million in sales are expected to close soon, supporting the goal to reduce leverage to below 9x by 2026.
The asset sales are primarily aimed at deleveraging the balance sheet and reducing debt costs, with a focus on smaller assets and land.

Pathward Financial, Inc.

CASH

Financial Services

3d

Strategic Balance Sheet Optimization and Asset Mix Management

Pathward has successfully closed the gap to its target asset mix, emphasizing balance sheet optimization in 2025.
The company moved more than half of its consumer portfolio to held-for-sale, generating a $14.3 million credit provision release.
Liquidity remains strong at $2.3 billion, with plans to redeploy liquidity from asset sales.
The sale of the consumer portfolio is expected to impact net interest margin and pre-tax income in 2026, but guidance remains unchanged.
Management highlighted the importance of maintaining an optimal asset mix to support future growth and risk management.
The balance sheet strategy includes a focus on risk-adjusted returns and risk management through divestitures.

Vornado Realty Trust

VNO

Financial Services

2mo

Strategic Focus on Core Manhattan Market and Asset Dispositions

Vornado is 90% Manhattan-centric, with a focus on Prime Pitch Manhattan. The company owns assets in Chicago and San Francisco, which may be sold if the right deal arises.
Assets in San Francisco (555 California Street) and Chicago (The Mart) are considered valuable but are not sacred; they may be sold for the right price to optimize shareholder value.
The company's primary mission is to increase stock price, leading to a flexible approach to asset sales and acquisitions.

Brixmor Property Group Inc.

BRX

Financial Services

2mo

Strategic Portfolio Transformation and Value-Add Initiatives

Jim Taylor highlighted the fundamental and accelerating transformation of the portfolio, emphasizing leasing, reinvestment, and capital recycling as key drivers of growth.
The company is executing a robust value-add plan, with a pipeline of $370 million underway and several hundred million identified for future projects.
Recent projects include The Davis Collection, BarnPlazo, Wynwood Village, and LaCenterra, which are expected to generate high returns and drive traffic and occupancy growth.

W. P. Carey Inc.

WPC

Financial Services

2mo

Strategic Asset Sales and Reinvestment at Attractive Spreads

Sold $175 million of self-storage properties at sub-6% cap rate, with remaining sales of 17 properties under contract for August closings.
Achieved a spread of over 100 basis points between asset sales and new investments, with potential to reach 150 basis points by year-end.
Reinvested proceeds into new investments with initial cap rates averaging mid-7s, primarily in industrial and warehouse sectors, supporting high-yield, long-term leases.