Dafinchi AI

Gladstone Commercial Corporation

GOOD

Financial Services

1w

Financial Performance Summary

FFO and core FFO per share for Q2 2025 were $0.33 and $0.35 respectively, down from $0.36 in Q2 2024.
Net assets increased from $1.16 billion to $1.2 billion mainly due to two industrial acquisitions totaling $78.95 million.
Operating expenses decreased to $25.1 million in Q2 2025 from $26.0 million in Q2 2024, due to incentive fee waivers and lower depreciation, offset by higher property expenses.
Same-store rents increased by 6.4% in the first half of 2025 compared to the same period in 2024.
Total operating revenues increased to $39.5 million in Q2 2025 from $37.1 million in Q2 2024, driven by higher recovery and rental rates.

CTO Realty Growth, Inc.

CTO

Financial Services

2w

Financial Performance Summary

Core FFO per share was $0.45, consistent with the prior year quarter despite growth in core FFO due to reduced leverage.
Core FFO was $14.7 million for the quarter, a $4.3 million increase compared to $10.3 million in the prior year quarter.
Net debt to EBITDA was 6.9x, improved from 7.5x a year ago but up from 6.3x at the start of the year due to acquisitions and tenant vacancies.
The company signed approximately 227,000 square feet of new leases, renewals, and extensions at an average cash base rent of $25.43 per square foot in Q2 2025.
The property portfolio of 5.3 million square feet was 93.9% leased and 90.2% occupied at quarter-end.
The signed not open leasing pipeline stands at $4.6 million, representing 4.6% of in-place cash rents.
Year-to-date leasing totaled 339,000 square feet with a 27% cash rent spread on comparable leases.

EVR

Financial Services

2w

Financial Performance Summary

Adjusted compensation ratio improved to 65.4%, down 60 basis points year-over-year, while adjusted noncompensation expenses rose 9% due to technology and occupancy costs.
Adjusted operating income was $157 million, a 37% increase versus Q2 2024, with adjusted EPS of $2.42, up 34% year-over-year.
Advisory fees increased 23% year-over-year to $698 million, a record for the quarter.
Asset Management and Administration Fees grew 3% to $21 million, driven by market appreciation and net inflows.
Cash and investment securities totaled over $1.7 billion as of June 30, with positive cash flow and $532 million returned to shareholders in the first half through buybacks and dividends.
Evercore delivered adjusted net revenues of $839 million in Q2 2025, up nearly 21% year-over-year, marking record revenues for both the quarter and first half of the year.
GAAP net revenues, operating income, and EPS were $834 million, $150 million, and $2.36 per share respectively in Q2 2025.
Share repurchases totaled approximately 1.7 million shares year-to-date at an average price of $258.5 per share, fully offsetting dilution from RSU grants.
Underwriting revenues rose 4% to $32 million, commissions and related revenue increased 10% to $58 million.

LPL Financial Holdings Inc.

LPLA

Financial Services

2w

Financial Performance Summary

Adjusted EPS was $4.51, a 16% increase year-over-year.
Client cash revenue was $414 million, up $5 million from Q1; client cash balances ended at $51 billion, down $2 billion sequentially.
Commission and advisory fees net of payout were $349 million, down $14 million from Q1.
Core G&A expenses were $426 million, below outlook range; full year 2025 outlook lowered to $1.720 billion to $1.750 billion excluding deals.
Corporate cash ended Q2 at $3.6 billion, up $3 billion from Q1 due to capital raises; expected to decrease post-Commonwealth close.
Depreciation and amortization were $96 million, up $4 million sequentially; expected to increase by $5 million in Q3.
Gross profit was $1.304 billion, up $32 million sequentially.
ICA yield was 342 basis points, up 5 basis points from Q1; expected to be flat in Q3.
Including Commonwealth, new core G&A outlook is $1.880 billion to $1.920 billion.
Interest expense was $102 million, up $22 million sequentially due to April debt issuance; expected to increase by $5 million in Q3.
Leverage ratio was 1.23x at end of Q2; expected to be 2.25x post-close with a path to 2x by end of 2026.
Organic net new assets were $21 billion, representing a 5% annualized growth rate.
Payout rate was 87.3%, up approximately 60 basis points from Q1, with an expected increase to 87.6% in Q3.
Promotional expense was $164 million, up $12 million from Q1; expected to increase by $35 million in Q3.
Service and fee revenue was $152 million, up $7 million from Q1; expected to increase by $20 million in Q3.
Tax rate was approximately 26% in Q2; expected around 27% in Q3.
Total assets increased to a record $1.9 trillion in Q2, driven by solid organic growth and higher equity markets.
Transaction revenue was $61 million, down $7 million sequentially; expected to increase by $5 million in Q3.

Extra Space Storage Inc.

EXR

Financial Services

2w

Financial Performance Summary

Bad debt remains below 2%, indicating a healthy customer base.
Flat same-store revenue growth in Q2 due to gradual rate growth progress.
Interest income and expense were higher due to a higher-than-forecasted SOFR curve.
Net rental income was positive 20 basis points in the quarter, partially offset by lower administrative fees and late fees.
Positive year-over-year rate growth to new customers achieved for the first time since March 2022.
Same-store expenses increased by 8.6%, driven by higher property taxes in legacy Life Storage properties.
Same-store occupancy reached 94.6%, up 60 basis points year-over-year and 120 basis points sequentially from Q1.
Tenant insurance income and management fee income were stronger than expected, augmenting flat same-store revenue.