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CommScope and NCTC Announce Enhanced Collaboration to Support Independent Service Providers

PR Newswire

Agreement will facilitate network design assistance and grant application
guidance for NCTC members


CLAREMONT, N.C. and OVERLAND PARK, Kan., Feb. 11, 2025 /PRNewswire/ — CommScope (NASDAQ: COMM), a global leader in network connectivity, announced today a collaboration with the National Content & Technology Cooperative (NCTC) to provide enhanced access to CommScope’s end-to-end network solutions for NCTC members.

NCTC supports independent broadband and pay-TV communications service providers serving small and midsized communities in all 50 United States and territories. Together, NCTC members reach about one-third of the households in the United States. CommScope and NCTC have a decades-long relationship; this enhanced collaboration reflects a stronger alliance as CommScope reinforces its ongoing commitment to bringing broadband to rural areas and underserved areas.

Through this partnership, NCTC members will have enhanced purchasing options for CommScope® solutions via a dedicated distribution partner. CommScope will also assist NCTC members with navigating Broadband Equity Access and Deployment (BEAD) program funding to finance rural FTTH network deployments. Additionally, CommScope is providing resources to help service providers design efficient, scalable fiber networks.

“We’re excited to work with NCTC to bring their members these valuable opportunities,” stated Michelle Hogan, general manager, Broadband Solutions, North America at CommScope. “We are committed to working with service providers of all sizes to make coast-to-coast broadband access a reality. This agreement streamlines the process of accessing our Build America, Buy America (BABA)-compliant portfolio of FTTH solutions for independent service providers. We’re able to deliver at greater scale than ever before, which will help independent service providers fulfill their mission to ensure no one is left behind in our digital society.”

“CommScope’s network solutions enable NCTC members to improve, upgrade, and manage their access network and broadband deployments quickly, economically, and efficiently,” said Jacob Igval, VP, Access Network Solutions, CommScope. “Whether members are building new networks or upgrading existing ones, CommScope has a deep portfolio of innovative, end-to-end products that can help maximize their investments in broadband network technology.”

“NCTC is dedicated to empowering our members with the tools and partnerships they need to deliver high-quality broadband to their communities,” said Rob Smith, VP, Group Purchasing at NCTC. “Our expanded collaboration with CommScope ensures that our members have streamlined access to industry-leading network solutions, helping them deploy and enhance broadband networks more efficiently. We’re excited to have a comprehensive suite of CommScope products and services in our online store, Marketplace.”

This collaboration will help put CommScope technology and expertise right where it’s most needed—in all communities across America.

CommScope and the CommScope logo are registered trademarks of CommScope and/or its affiliates in the U.S. and other countries. For additional trademark information see

https://www.commscope.com/trademarks

.
 All other product names, trademarks and registered trademarks are property of their respective owners.

About CommScope
CommScope (NASDAQ: COMM) is pushing the boundaries of technology to create the world’s most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what’s next and invent what’s possible. Discover more at www.commscope.com.

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About the National Content & Technology Cooperative

The National Content & Technology Cooperative (NCTC) is a Kansas-based, not-for-profit corporation comprised of nearly 700 independent cable and broadband operators serving one-third of the connected households in all 50 United States and territories. The NCTC negotiates content, connectivity, and technology solutions for its member companies that create operational efficiencies, new products, and revenue streams for sustainable growth. For more information, visit: https://www.nctconline.org/

News Media Contacts

CommScope

Luke Hamer

[email protected] 

NCTC

Christy Drummond, NCTC
[email protected] 

This press release includes forward-looking statements that are based on information currently available to management, management’s beliefs, as well as on a number of assumptions concerning future events. Forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, which could cause the actual results to differ materially from those currently expected. In providing forward-looking statements, the company does not intend, and is not undertaking any obligation or duty, to update these statements as a result of new information, future events or otherwise.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/commscope-and-nctc-announce-enhanced-collaboration-to-support-independent-service-providers-302372575.html

SOURCE NCTC

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Ingersoll Rand Sets Industry Standards for Sustainable Progress

  • Ingersoll Rand earns “A List” rating from CDP in the environmental stewardship category for the second year in a row
  • Ranked #1 globally in the Machinery and Electrical Equipment industry with a top 1% score on the 2024 S&P Global Corporate Sustainability Assessment and included on the Dow Jones Best-in-Class Indices for the third year in a row
  • Near-term and net-zero Scope 1, 2, and 3 targets approved by the Science Based Targets initiative (SBTi), validating Ingersoll Rand’s proposed emission reduction strategy
  • Named to TIME’s inaugural list of World’s Best Companies in Sustainable Growth

DAVIDSON, N.C., Feb. 11, 2025 (GLOBE NEWSWIRE) — Ingersoll Rand Inc., (NYSE: IR) a global provider of mission-critical flow creation and life science and industrial solutions, continues to demonstrate meaningful progress against its ambitious sustainability strategy and goals with new recognition from CDP, the Dow Jones Best-in-Class Indices (previously the Dow Jones Sustainability Indices), the Science Based Targets initiative (SBTi), and TIME.

As of February 6, 2025, Ingersoll Rand has been recognized with an “A List” rating by CDP for its effective climate change actions and environmental leadership. Our company stands out among over 22,000 evaluated for its greenhouse gas reduction, sustainable product design, and climate management strategies.

As of February 10, 2025, Ingersoll Rand received a score of 81 out of 100 on the 2024 S&P Global Corporate Sustainability Assessment. The company remained in the top 1% of companies in our industry (IEQ Machinery and Electrical Equipment industry) and was included in the Dow Jones Best-in Class World and North America Indices for the third consecutive year.

In addition, Ingersoll Rand was included on TIME’s inaugural list of the World’s Best Companies in Sustainable Growth, and its near-term and net-zero targets have been validated for Scope 1, 2, and 3 by the SBTi.1 The TIME award and approval of targets by SBTi reinforce Ingersoll Rand’s commitment to both financial growth and sustainable leadership.

“Being recognized as an industry leader demonstrates how Ingersoll Rand is living our purpose of Making Life Better,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “From our new product development process to our revenue growth strategy and our commitment to employee safety, we are setting the standard for what it means to leverage sustainability to drive long-term shareholder value.”

A replay of Ingersoll Rand’s 2024 sustainability investor call and presentation can be found here.

1 Details on Ingersoll Rand’s validated targets are available on the SBTi dashboard: https://sciencebasedtargets.org/companies-taking-action#dashboard.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to Ingersoll Rand Inc.’s (the “Company” or “Ingersoll Rand”) expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” “guidance” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements.

These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) adverse impact on our operations and financial performance due to natural disaster, catastrophe, global pandemics (including COVID-19), geopolitical tensions, cyber events or other events outside of our control; (2) unexpected costs, charges or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) other risk factors detailed in Ingersoll Rand’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC’s website at http://www.sec.gov. The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

About Ingersoll Rand Inc.

Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

Contacts:

Investor Relations:

[email protected]

Media:

[email protected]



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Acadia Realty Trust Reports Fourth Quarter and Full Year 2024 Operating Results

Acadia Realty Trust Reports Fourth Quarter and Full Year 2024 Operating Results

  • Fourth Quarter 2024 GAAP Net Earnings of $0.07 per share and FFO Before Special Items of $0.32 per share
  • Core Same-Property NOI Growth of 5.7% for the Fourth Quarter of 2024
  • Completed Approximately $611 million of Accretive Core and Investment Management Acquisitions during the Fourth Quarter of 2024 and 2025 To-Date (Approximately $353 million at Acadia’s Pro-rata Share)
  • Increased its Quarterly Dividend by 5.3% for the First Quarter of 2025
  • 2025 Projected FFO Before Special Items of $1.35 at the Mid-Point (5.5% Growth)
  • 2025 Projected Same-Property NOI Growth of 5-6%

RYE, N.Y.–(BUSINESS WIRE)–
Acadia Realty Trust (NYSE: AKR) (“Acadia” or the “Company”) today reported operating results for the quarter ended December 31, 2024. All per share amounts are on a fully-diluted basis, where applicable. Acadia owns and operates a high-quality real estate portfolio of street and open-air retail properties in the nation’s most dynamic retail corridors (“Core” or “Core Portfolio”), along with an investment management platform that targets opportunistic and value-add investments through its institutional co-investment vehicles (“Investment Management”).

Kenneth F. Bernstein, President and CEO of Acadia, commented:

 

“We concluded the year with strong performance from all of the key drivers of our business. We delivered same-property NOI growth of 5.7%, driven by the strong performance of our street portfolio. Adding to the strong performance of our existing assets, we completed over $600 million of accretive Core and Investment Management acquisitions. The street retail additions to our core portfolio in New York City (SoHo, Williamsburg, and the West Village), and Washington D.C. (Georgetown), further expand our highly differentiated portfolio of best-in-class retail in the major must-have retail corridors in the United States. To fund our expansion, we have raised approximately $740 million of equity, which funded our acquisitions and redevelopments, along with providing the dry powder to add additional accretive investment opportunities. As we begin the new year, we are well positioned to continue to deliver strong internal growth through the continued strength of our Core portfolio, as well as accretive external growth.”

 

FINANCIAL RESULTS

A complete reconciliation, in dollars and per share amounts, of (i) net income attributable to Acadia to FFO (as defined by NAREIT and Before Special Items) attributable to common shareholders and common OP Unit holders and (ii) operating income to NOI is included in the financial tables of this release. The amounts discussed below are net of noncontrolling interests and all per share amounts are on a fully-diluted basis.

 

 

Financial Results

 

 

2024

 

2023

 

 

4Q

 

4Q

 

 

 

 

 

Net earnings per share attributable to Acadia

 

$0.07

 

($0.02)

Depreciation of real estate and amortization of leasing costs (net of noncontrolling interest share)

 

0.22

 

0.28

Impairment charges (net of noncontrolling interest share)

 

0.01

 

—

NAREIT Funds From Operations per share attributable to Common Shareholders and Common OP Unit holders

 

$0.30

 

$0.26

Net unrealized holding loss (gain)1

 

(0.01)

 

—

Funds From Operations Before Special Items and Realized Gains and Promotes per share attributable to Common Shareholders and Common OP Unit holders

 

$0.29

 

$0.26

Realized gains and promotes1

 

0.03

 

0.02

Funds From Operations Before Special Items per share attributable to Common Shareholders and Common OP Unit holders

 

$0.32

 

$0.28

________

1.

It is the Company’s policy to exclude unrealized gains and losses from FFO Before Special items and to include realized gains related to the Company’s investment in Albertsons. The Company realized investment gains of $3.7 million for the quarter ended December 31, 2024, and investment gains of $2.3 million for the quarter ended December 31, 2023. Refer to the “Notes to Financial Highlights” page 15 of this document.

 

Net Income

  • Net income for the quarter ended December 31, 2024, was $8.2 million, or $0.07 per share.

  • This compares with net loss of $1.6 million, or $0.02 per share for the quarter ended December 31, 2023.

 

NAREIT FFO

  • NAREIT Funds From Operations (“NAREIT FFO”) for the quarter ended December 31, 2024 was $37.8 million, or $0.30 per share.

  • This compares with NAREIT FFO of $26.4 million, or $0.26 per share, for the quarter ended December 31, 2023.

 

FFO Before Special Items

  • Funds From Operations (“FFO”) Before Special Items for the quarter ended December 31, 2024 was $40.5 million, or $0.32 per share, which includes $3.7 million, or $0.03 per share, of realized investment gains from the sale of 195,000 shares of Albertsons’ stock.

  • This compares with FFO Before Special Items of $28.4 million, or $0.28 per share for the quarter ended December 31, 2023, which includes $2.3 million, or $0.02 per share, of realized investment gains from the sale of Albertsons’ stock.

CORE PORTFOLIO PERFORMANCE

 

Same-Property NOI

  • Same-Property Net Operating Income (“NOI”) growth, excluding redevelopments, increased 5.7% for the fourth quarter, driven by growth in excess of 12% from the street portfolio, and increased 5.7% for the year ended December 31, 2024, at the high end of guidance.

Leasing and Occupancy Update

  • As of December 31, 2024, sequentially increased Core Portfolio occupancy percentages by 110 and 140 basis points, respectively, to 95.8% leased and 93.1% occupied compared to 94.7% leased and 91.7% occupied as of September 30, 2024.

  • Core Signed Not Open (“SNO”) pipeline (excluding redevelopments) of $7.7 million of annualized base rent (“ABR”) at December 31, 2024, which represented approximately 5.1% of in-place rents. During the fourth quarter, ABR of approximately $5.3 million of leases commenced, and $3.0 million of new leases were added to the SNO pipeline.

  • For the year ended December 31, 2024, conforming GAAP and cash leasing spreads on new leases were 63% and 34%, respectively, primarily driven by new street leases in Manhattan, NY, Chicago, IL and Washington, D.C.

    • During the fourth quarter, conforming GAAP and cash leasing spreads on new leases were 46% and 13%, respectively, primarily driven by suburban leases.

  • In January 2025, the Company signed a new lease with a large international grocer to replace Whole Foods at City Center in San Francisco, California. Additionally, the Company and Whole Foods have reached an agreement to terminate. The Company has received payments of approximately $6 million and $2 million that it anticipates recognizing as rental income within its Core NOI and termination income, respectively, during the first quarter of 2025.

 

ACQUISITION ACTIVITY

During the fourth quarter of 2024 and 2025 to-date, the Company completed approximately $611 million of acquisitions, which is comprised of $306 million of Core acquisitions and $305 million (or $47 million at the Company’s pro-rata share) of Investment Management acquisitions.

Amounts below are exclusive of transaction costs.

Core Portfolio Acquisitions – Fourth Quarter of 2024 and 2025 To-Date

Completed: Approximately $306 million Street Retail Investments

  • Georgetown, Washington, D.C. In January 2025, the Company acquired an additional 48% interest (increasing its existing 20% interest to approximately 68%) in a portfolio of properties which are primarily located in Georgetown, Washington D.C. The 48% interest was acquired for a purchase price of approximately $117 million, based upon a gross portfolio value of approximately $245 million. The Company will manage the day-to-day operations alongside its joint venture partner, EastBanc. The portfolio consists of 36 retail stores located along M Street in Georgetown, which has established itself as one of the nation’s top retail destinations.
  • SoHo, Manhattan, New York. During the fourth quarter and year-to-date 2025, the Company completed the acquisition of approximately $123 million of Street retail assets in SoHo, Manhattan, New York.These acquisitions expanded the Company’s existing SoHo Collection to 15 properties and 20 retail stores in Manhattan’s premier retail corridor.
    • 92-94 Greene Street, Manhattan, New York. As previously announced, in October 2024 the Company closed on 92-94 Greene Street for approximately $43 million. This acquisition provides near-term opportunity for accretive re-leasing and increases the Company’s Greene Street holdings to 9 buildings and 9 retail stores.
    • 106 Spring Street, Manhattan, New York. In January 2025, the Company completed the acquisition of 106 Spring Street for $55 million, which is located on the corner of Spring and Mercer Streets. It is leased to the athleisure brand, Vuori.
    • 73 Wooster Street, Manhattan, New York. In January 2025, the Company completed the acquisition of 73 Wooster Street for approximately $25 million, which is located between Spring and Broome Streets. The retail property is leased to Reiss and Moschino. This acquisition provides an opportunity for accretive-mark-to-market releasing.
  • Williamsburg, Brooklyn, New York. As previously announced, during the fourth quarter the Company completed the acquisition of approximately $53 million of Street retail assets in Williamsburg, Brooklyn, expanding the Company’s ownership in Williamsburg to approximately 5 properties and 15 retail stores.
    • 123-129 North 6th Street, Brooklyn, New York. In October 2024 the Company completed the acquisition of a portfolio of assets on 123-129 North 6th Street for $35 million. The portfolio offers below-market rents, accretive re-leasing, and an opportunity for retail expansion on vacant land acquired with frontage on Berry Street.
    • 109 North 6th Street, Brooklyn New York. In October 2024 the Company completed the acquisition of 109 North 6th Street for approximately $18 million, which is adjacent to its 123-129 North 6th Street acquisition. The asset is leased to Madewell.
  • Henderson Avenue Expansion, Dallas, Texas. In the fourth quarter, the Company completed the acquisitions of three additional parcels on Henderson Avenue for an aggregate purchase price of approximately $13 million. These additions are adjacent to the Company’s existing holdings and provide for additional expansion and lease-up opportunities along with enhancing continuity and giving greater control over the direction of this emerging retail corridor.

    As previously announced, in October 2024, the Company, in partnership with Ignite-Rebees, commenced construction for the Henderson Avenue Corridor Expansion to transform the corridor into a vibrant, walkable, street retail destination. These acquisitions further connect the Company’s existing operating Henderson assets, which were initially acquired by the Company in 2022 for approximately $85 million.

Investment Management Acquisitions – Fourth Quarter of 2024

Completed: Approximately $305 million (or $47 million at the Company’s pro-rata share)

  • The LINQ Promenade, Las Vegas, Nevada. During the fourth quarter, the Company through its Investment Management Platform, formed a joint venture with TPG Real Estate to acquire the LINQ Promenade on the Las Vegas Strip for a gross purchase price of approximately $275 million (the Company retained a 15% ownership interest in the joint venture). The Company will manage the day-to-day operations entitling it to earn asset management, property management, and leasing fees, along with the opportunity to earn a promote upon the ultimate disposition of the asset. The LINQ Promenade is a 180,000 square foot open-air retail, dining, and entertainment destination. This transaction offers accretive re-leasing and additional ancillary revenue opportunities.
  • The Walk at Highwoods Preserve, Tampa, Florida. As previously announced, in October 2024, the Company, through its Investment Management Platform, entered into a joint venture with funds managed by the Private Real Estate Group of Cohen & Steers to purchase the Walk at Highwoods Preserve, an open-air shopping center, for a gross purchase price of approximately $30 million. The Company retained a 20% interest and will manage day-to-day operations of the investment.

BALANCE SHEET

  • Equity Activity: During the fourth quarter of 2024 and 2025 to-date the Company raised net proceeds of $276.8 million through the issuance of 11.2 million shares under its at-the-market issuance program on a forward basis at an average price of $24.77 per share. To-date, the Company has not settled any of the 11.2 million shares.

    As previously disclosed, during the third quarter of 2024, the Company raised net proceeds of $131.6 million from the issuance of 5.75 million shares (including 750,000 shares from the underwriters exercised option to purchase 750,000 additional shares) through an underwritten public offering in connection with forward sales agreements, which the Company physically settled in October 2024.

    For the full year ended December 31, 2024, and 2025 to-date, the Company has raised (inclusive of the $276.8 million of unsettled forward proceeds described above) net proceeds of $738.3 million from the issuance of 34.1 million shares at an average price of $21.65 per share.

  • Debt-to-EBITDA Metrics: Pro-rata Net Debt-to-EBITDA improved to 5.5x at December 31, 2024 as compared to 7.1x at December 31, 2023. Refer to the fourth quarter 2024 Supplemental Information package for reconciliations and details on financial ratios.
  • No Significant Core Debt Maturities until 2028: 0.3%, 7.2%, and 5.8% of Core debt maturing in 2025, 2026, and 2027, respectively.

DIVIDEND

Increased Quarterly Dividend by $0.01 to $0.20 per Common Share: The Company’s Board of Trustees has authorized a cash dividend of $0.20 per common share for the first quarter of 2025. The 5.3% increase from the prior quarterly dividend was driven by the Company’s continued internal and external growth. The quarterly dividend is payable on April 15, 2025 to holders of record as of March 31, 2025.

GUIDANCE

The following initial guidance is based upon Acadia’s current view of market conditions and assumptions for the year ended December 31, 2025.

The Company is setting initial 2025 guidance as follows:

  • Net earnings per diluted share of $0.22 to $0.27

  • FFO Before Special items per diluted share of $1.30 – $1.39

  • Projected same-property NOI growth of 5-6%

It is the Company’s policy not to include the estimated financial impact of acquisition and disposition of assets within its guidance until such transactions are consummated.

 

 

2025 Guidance

 

 

Guidance Range

 

2024

Actuals

 

 

 

 

 

Net earnings per share attributable to Acadia

 

$0.22-$0.27

 

$0.19

Depreciation of real estate and amortization of leasing costs (net of noncontrolling interest share)

 

0.96

 

0.92

(Gain) Loss on disposition on real estate properties (net of noncontrolling interest share)

 

—

 

(0.01)

Impairment charges (net of noncontrolling interest share)

 

—

 

0.01

Noncontrolling interest in Operating Partnership

 

0.01

 

0.01

NAREIT Funds from operations per share attributable to Common Shareholders and Common OP Unit holders

 

$1.19-$1.24

 

$1.12

Net unrealized holding loss 1

 

—

 

0.04

Funds From Operations Before Special Items and Realized Gains per share attributable to Common Shareholders and Common OP Unit holders

 

$1.18-$1.24

 

$1.16

Realized gains and promotes 2

 

0.11-0.15

 

0.12

Funds From Operations Before Special Items per share attributable to Common Shareholders and Common OP Unit holders

 

$1.30-$1.39

 

$1.28

________

 

1.

This represents the actual unrealized mark-to-market holdings loss related to the Company’s investment in Albertsons, which was recognized in NAREIT FFO for the year ended December 31, 2024. The Company has not reflected any forward-looking estimates involving future unrealized holding gains or losses (i.e., changes in share price) on Albertsons in its 2025 guidance assumptions.
 

2.

It is the Company’s policy to exclude unrealized gains and losses from FFO Before Special items and to include realized gains related to the Company’s investment in Albertsons. The Company realized investment gains of $14.3 million for the year ended December 31, 2024 (which was included in both NAREIT FFO and FFO Before Special Items). Refer to the 2025 guidance page within the Company’s latest Supplemental Report for additional information and certain underlying assumptions.

CONFERENCE CALL

Management will conduct a conference call on Wednesday, February 12, 2025 at 11:00 AM ET to review the Company’s earnings and operating results. Participant registration and webcast information is listed below.

Live Conference Call:

 

Date:

Wednesday, February 12, 2025

Time:

11:00 AM ET

Participant call:

Fourth Quarter 2024 Dial-In

Participant webcast:

Fourth Quarter 2024 Webcast

Webcast Listen-only and Replay:

www.acadiarealty.com/investors under Investors,Presentations & Events

The Company uses, and intends to use, the Investors page of its website, which can be found at https://www.acadiarealty.com/investors, as a means of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations and certain portfolio updates. Additionally, the Company also uses its LinkedIn profile to communicate with its investors and the public. Accordingly, investors are encouraged to monitor the Investors page of the Company’s website and its LinkedIn profile, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.

About Acadia Realty Trust

Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth. Acadia owns and operates a high-quality core real estate portfolio (“Core” or “Core Portfolio”) of street and open-air retail properties in the nation’s most dynamic retail corridors, along with an investment management platform that targets opportunistic and value-add investments through its institutional co-investment vehicles (“Investment Management”). For further information, please visit www.acadiarealty.com.

Safe Harbor Statement

Certain statements in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations are generally identifiable by the use of words, such as “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project,” or the negative thereof, or other variations thereon or comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results and financial performance to be materially different from future results and financial performance expressed or implied by such forward-looking statements, including, but not limited to: (i) macroeconomic conditions, including due to geopolitical conditions and instability, which may lead to a disruption of or lack of access to the capital markets, disruptions and instability in the banking and financial services industries and rising inflation; (ii) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (including the potential acquisitions discussed in this press release); (iii) changes in general economic conditions or economic conditions in the markets in which the Company may, from time to time, compete, and their effect on the Company’s revenues, earnings and funding sources; (iv) increases in the Company’s borrowing costs as a result of rising inflation, changes in interest rates and other factors; (v) the Company’s ability to pay down, refinance, restructure or extend its indebtedness as it becomes due; (vi) the Company’s investments in joint ventures and unconsolidated entities, including its lack of sole decision-making authority and its reliance on its joint venture partners’ financial condition; (vii) the Company’s ability to obtain the financial results expected from its development and redevelopment projects; (viii) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration, the Company’s ability to re-lease its properties on the same or better terms in the event of nonrenewal or in the event the Company exercises its right to replace an existing tenant, and obligations the Company may incur in connection with the replacement of an existing tenant; (ix) the Company’s potential liability for environmental matters; (x) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xi) the economic, political and social impact of, and uncertainty surrounding, any public health crisis, which adversely affected the Company and its tenants’ business, financial condition, results of operations and liquidity; (xii) uninsured losses; (xiii) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xiv) information technology security breaches, including increased cybersecurity risks relating to the use of remote technology; (xv) the loss of key executives; and (xvi) the accuracy of the Company’s methodologies and estimates regarding corporate responsibility metrics, goals and targets, tenant willingness and ability to collaborate towards reporting such metrics and meeting such goals and targets, and the impact of governmental regulation on our corporate responsibility efforts.

The factors described above are not exhaustive and additional factors could adversely affect the Company’s future results and financial performance, including the risk factors discussed under the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other periodic or current reports the Company files with the SEC. Any forward-looking statements in this press release speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any changes in the Company’s expectations with regard thereto or changes in the events, conditions or circumstances on which such forward-looking statements are based.

ACADIA REALTY TRUST AND SUBSIDIARIES
   

Condensed Consolidated Statements of Operations(1)

(Unaudited, Dollars and Common Shares and Units in thousands, except per share amounts)
 

 

 

Three Months Ended

December 31,

 

Year Ended

December 31,

 

 

2024

 

2023

 

2024

 

2023

Revenues

 

 

 

 

 

 

 

 

Rental

 

$

91,579

 

 

$

84,205

 

 

$

349,530

 

 

$

333,044

 

Other

 

 

1,755

 

 

 

1,308

 

 

 

10,159

 

 

 

5,648

 

Total revenues

 

 

93,334

 

 

 

85,513

 

 

 

359,689

 

 

 

338,692

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

35,189

 

 

 

35,029

 

 

 

138,910

 

 

 

135,984

 

General and administrative

 

 

10,397

 

 

 

10,572

 

 

 

40,559

 

 

 

41,470

 

Real estate taxes

 

 

12,535

 

 

 

12,064

 

 

 

46,049

 

 

 

46,650

 

Property operating

 

 

16,772

 

 

 

17,229

 

 

 

66,000

 

 

 

61,826

 

Impairment charges

 

 

1,678

 

 

 

—

 

 

 

1,678

 

 

 

3,686

 

Total expenses

 

 

76,571

 

 

 

74,894

 

 

 

293,196

 

 

 

289,616

 

 

 

 

 

 

 

 

 

 

(Loss) gain on disposition of properties

 

 

(393

)

 

 

—

 

 

 

(834

)

 

 

—

 

Operating income

 

 

16,370

 

 

 

10,619

 

 

 

65,659

 

 

 

49,076

 

Equity in (losses) earnings of unconsolidated affiliates

 

 

(774

)

 

 

(1,404

)

 

 

15,178

 

 

 

(7,677

)

Interest income

 

 

6,575

 

 

 

5,118

 

 

 

25,085

 

 

 

19,993

 

Realized and unrealized holding (losses) gains on investments and other

 

 

904

 

 

 

177

 

 

 

(5,014

)

 

 

30,413

 

Interest expense

 

 

(21,904

)

 

 

(24,692

)

 

 

(92,557

)

 

 

(93,253

)

Income (loss) from continuing operations before income taxes

 

 

1,171

 

 

 

(10,182

)

 

 

8,351

 

 

 

(1,448

)

Income tax provision

 

 

(11

)

 

 

(53

)

 

 

(212

)

 

 

(301

)

Net income (loss)

 

 

1,160

 

 

 

(10,235

)

 

 

8,139

 

 

 

(1,749

)

Net loss attributable to redeemable noncontrolling interests

 

 

1,397

 

 

 

2,578

 

 

 

7,915

 

 

 

8,239

 

Net loss attributable to noncontrolling interests

 

 

5,967

 

 

 

6,320

 

 

 

5,596

 

 

 

13,383

 

Net income (loss) attributable to Acadia shareholders

 

$

8,524

 

 

$

(1,337

)

 

$

21,650

 

 

$

19,873

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: earnings attributable to unvested participating securities

 

 

(306

)

 

 

(244

)

 

 

(1,189

)

 

 

(978

)

Net income (loss) attributable to Common Shareholders – basic earnings per share

 

$

8,218

 

 

$

(1,581

)

 

$

20,461

 

 

$

18,895

 

Impact of assumed conversion of dilutive convertible securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Income from continuing operations net of income attributable to participating securities for diluted earnings per share

 

$

8,218

 

 

$

(1,581

)

 

$

20,461

 

 

$

18,895

 

 

 

 

 

 

 

 

 

 

Weighted average shares for basic earnings per share

 

 

118,719

 

 

 

95,363

 

 

 

108,227

 

 

 

95,284

 

Weighted average shares for diluted earnings per share

 

 

118,750

 

 

 

95,363

 

 

 

108,258

 

 

 

95,284

 

 

 

 

 

 

 

 

 

 

Net earnings per share – basic (2)

 

$

0.07

 

 

$

(0.02

)

 

$

0.19

 

 

$

0.20

 

Net earnings per share – diluted (2)

 

$

0.07

 

 

$

(0.02

)

 

$

0.19

 

 

$

0.20

 

ACADIA REALTY TRUST AND SUBSIDIARIES

    

Reconciliation of Consolidated Net Income to Funds from Operations(1,3)

(Unaudited, Dollars and Common Shares and Units in thousands, except per share amounts)
 

 

 

Three Months Ended

December 31,

 

Year Ended

December 31,

 

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Acadia

 

$

8,524

 

 

$

(1,337

)

 

$

21,650

 

 

$

19,873

 

 

 

 

 

 

 

 

 

 

Depreciation of real estate and amortization of leasing costs (net of noncontrolling interests’ share)

 

 

27,665

 

 

 

27,689

 

 

 

107,450

 

 

 

109,732

 

Impairment charges (net of noncontrolling interests’ share)

 

 

750

 

 

 

—

 

 

 

750

 

 

 

852

 

Loss (gain) on disposition of properties (net of noncontrolling interests’ share)

 

 

395

 

 

 

—

 

 

 

(1,086

)

 

 

—

 

Income attributable to Common OP Unit holders

 

 

363

 

 

 

(31

)

 

 

1,067

 

 

 

1,282

 

Distributions – Preferred OP Units

 

 

67

 

 

 

123

 

 

 

341

 

 

 

492

 

Funds from operations attributable to Common Shareholders and Common OP Unit holders – Diluted

 

$

37,764

 

 

$

26,444

 

 

$

130,172

 

 

$

132,231

 

 

 

 

 

 

 

 

 

 

Unrealized holding loss (gain) (net of noncontrolling interest share)

 

 

(949

)

 

 

(352

)

 

 

4,616

 

 

 

(3,762

)

Realized gain

 

 

3,685

 

 

 

2,265

 

 

 

14,188

 

 

 

4,636

 
FFO before Special Items attributable to Common Shareholder and Common OP Unit holders 1

 

$

40,500

 

 

$

28,357

 

 

$

148,976

 

 

$

133,105

 
 
Less:Non-cash and non-recurring gain from BBBY lease termination

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(7,758

)

Funds From Operations Before Special Items attributable to Common Shareholders and Common OP Unit holders, excluding BBBY gain 6

 

$

40,500

 

 

$

28,357

 

 

$

148,976

 

 

$

125,347

 

 

 

 

 

 

 

 

 

 

Funds From Operations per Share – Diluted

 

 

 

 

 

 

 

 

Basic weighted-average shares outstanding, GAAP earnings

 

 

118,719

 

 

 

95,363

 

 

 

108,227

 

 

 

95,284

 

Weighted-average OP Units outstanding

 

 

7,280

 

 

 

7,136

 

 

 

7,495

 

 

 

7,180

 

Assumed conversion of Preferred OP Units to Common Shares

 

 

256

 

 

 

464

 

 

 

356

 

 

 

464

 

Weighted average number of Common Shares and Common OP Units

 

 

126,255

 

 

 

102,963

 

 

 

116,078

 

 

 

102,928

 

 

 

 

 

 

 

 

 

 

Diluted Funds from operations, per Common Share and Common OP Unit

 

$

0.30

 

 

$

0.26

 

 

$

1.12

 

 

$

1.28

 

 

 

 

 

 

 

 

 

 

Diluted Funds from operations before Special Items, per Common Share and Common OP Unit

 

$

0.32

 

 

$

0.28

 

 

$

1.28

 

 

$

1.29

 
 
Diluted Funds from operations before Special Items, excluding BBBY gain per Common Share and Common OP Unit

 

$

0.32

 

 

$

0.28

 

 

$

1.28

 

 

$

1.22

 

ACADIA REALTY TRUST AND SUBSIDIARIES

    

Reconciliation of Consolidated Operating Income to Net Property Operating Income (“NOI”)(1)

(Unaudited, Dollars in thousands)
 

 

 

Three Months Ended

December 31,

 

Year Ended

December 31,

 

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

 

 

 

 

Consolidated operating income

 

$

16,370

 

 

$

10,619

 

 

$

65,659

 

 

$

49,076

 

Add back:

 

 

 

 

 

 

 

 

General and administrative

 

 

10,397

 

 

 

10,572

 

 

 

40,559

 

 

 

41,470

 

Depreciation and amortization

 

 

35,189

 

 

 

35,029

 

 

 

138,910

 

 

 

135,984

 

Impairment charges

 

 

1,678

 

 

 

—

 

 

 

1,678

 

 

 

3,686

 

Loss on disposition of properties

 

 

393

 

 

 

—

 

 

 

834

 

 

 

—

 

Less:

 

 

 

 

 

 

 

 

Above/below-market rent, straight-line rent and other adjustments

 

 

(4,760

)

 

 

(1,951

)

 

 

(17,735

)

 

 

(20,617

)

Consolidated NOI

 

 

59,267

 

 

 

54,269

 

 

 

229,905

 

 

 

209,599

 

 

 

 

 

 

 

 

 

 

Redeemable noncontrolling interest in consolidated NOI

 

 

(1,994

)

 

 

(1,160

)

 

 

(6,127

)

 

 

(4,420

)

Noncontrolling interest in consolidated NOI

 

 

(17,226

)

 

 

(16,465

)

 

 

(69,540

)

 

 

(59,597

)

Less: Operating Partnership’s interest in Investment Management NOI included above

 

 

(7,083

)

 

 

(5,358

)

 

 

(25,496

)

 

 

(19,816

)

Add: Operating Partnership’s share of unconsolidated joint ventures NOI (5)

 

 

3,027

 

 

 

2,986

 

 

 

11,531

 

 

 

14,249

 

Core Portfolio NOI

 

$

35,991

 

 

$

34,272

 

 

$

140,273

 

 

$

140,015

 

Reconciliation of Same-Property NOI

(Unaudited, Dollars in thousands)
 

 

 

Three Months Ended

December 31,

 

Year Ended

December 31,

 

 

2024

 

2023

 

2024

 

2023

Core Portfolio NOI

 

$

35,991

 

 

$

34,272

 

 

$

140,273

 

 

$

140,015

 

Less properties excluded from Same-Property NOI

 

 

(3,340

)

 

 

(3,378

)

 

 

(11,680

)

 

 

(18,392

)

Same-Property NOI

 

$

32,651

 

 

$

30,894

 

 

$

128,593

 

 

$

121,623

 

 

 

 

 

 

 

 

 

 

Percent change from prior year period

 

 

5.7

%

 

 

 

 

5.7

%

 

 

 

 

 

 

 

 

 

 

 

Components of Same-Property NOI:

 

 

 

 

 

 

 

 

Same-Property Revenues

 

$

46,266

 

 

$

44,958

 

 

$

183,157

 

 

$

175,244

 

Same-Property Operating Expenses

 

 

(13,615

)

 

 

(14,064

)

 

 

(54,564

)

 

 

(53,621

)

Same-Property NOI

 

$

32,651

 

 

$

30,894

 

 

$

128,593

 

 

$

121,623

 

ACADIA REALTY TRUST AND SUBSIDIARIES

    

Condensed Consolidated Balance Sheets (1)

(Unaudited, Dollars in thousands, except shares)
 

 

 

As of

 

 

December 31,

2024

 

December 31,

2023

ASSETS

 

 

 

 

Investments in real estate, at cost

 

 

 

 

Buildings and improvements

 

$

3,174,250

 

 

$

3,128,650

 

Tenant improvements

 

 

304,645

 

 

 

257,955

 

Land

 

 

906,031

 

 

 

872,228

 

Construction in progress

 

 

23,704

 

 

 

23,250

 

Right-of-use assets – finance leases

 

 

61,366

 

 

 

58,637

 

Total

 

 

4,469,996

 

 

 

4,340,720

 

Less: Accumulated depreciation and amortization

 

 

(926,022

)

 

 

(823,439

)

Operating real estate, net

 

 

3,543,974

 

 

 

3,517,281

 

Real estate under development

 

 

129,619

 

 

 

94,799

 

Net investments in real estate

 

 

3,673,593

 

 

 

3,612,080

 

Notes receivable, net ($2,004 and $1,279 of allowance for credit losses as of December 31, 2024 and December 31, 2023, respectively)

 

 

126,584

 

 

 

124,949

 

Investments in and advances to unconsolidated affiliates

 

 

209,232

 

 

 

197,240

 

Other assets, net

 

 

223,767

 

 

 

208,460

 

Right-of-use assets – operating leases, net

 

 

25,531

 

 

 

29,286

 

Cash and cash equivalents

 

 

16,806

 

 

 

17,481

 

Restricted cash

 

 

22,897

 

 

 

7,813

 

Marketable securities

 

 

14,771

 

 

 

33,284

 

Rents receivable, net

 

 

58,022

 

 

 

49,504

 

Assets of properties held for sale

 

 

—

 

 

 

11,057

 

Total assets

 

$

4,371,203

 

 

$

4,291,154

 

 

 

 

 

 

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY

 

 

 

 

Liabilities:

 

 

 

 

Mortgage and other notes payable, net

 

$

953,700

 

 

$

930,127

 

Unsecured notes payable, net

 

 

569,566

 

 

 

726,727

 

Unsecured line of credit

 

 

14,000

 

 

 

213,287

 

Accounts payable and other liabilities

 

 

232,726

 

 

 

229,375

 

Lease liabilities – operating leases

 

 

27,920

 

 

 

31,580

 

Dividends and distributions payable

 

 

24,505

 

 

 

18,520

 

Distributions in excess of income from, and investments in, unconsolidated affiliates

 

 

16,514

 

 

 

7,982

 

Total liabilities

 

 

1,838,931

 

 

 

2,157,598

 

Commitments and contingencies

 

 

 

 

Redeemable noncontrolling interests

 

 

30,583

 

 

 

50,339

 

 

 

 

 

 

Equity:

 

 

 

 

Acadia Shareholders’ Equity

 

 

 

 

Common shares, $0.001 par value per share, authorized 200,000,000 shares, issued and outstanding 119,657,594 and 95,361,676 shares, respectively

 

 

120

 

 

 

95

 

Additional paid-in capital

 

 

2,436,285

 

 

 

1,953,521

 

Accumulated other comprehensive income

 

 

38,650

 

 

 

32,442

 

Distributions in excess of accumulated earnings

 

 

(409,383

)

 

 

(349,141

)

Total Acadia shareholders’ equity

 

 

2,065,672

 

 

 

1,636,917

 

Noncontrolling interests

 

 

436,017

 

 

 

446,300

 

Total equity

 

 

2,501,689

 

 

 

2,083,217

 

Total liabilities, redeemable noncontrolling interests, and equity

 

$

4,371,203

 

 

$

4,291,154

 

ACADIA REALTY TRUST AND SUBSIDIARIES
    

Notes to Financial Highlights:

 

  

 

  

 

 

(1)

  

For additional information and analysis concerning the Company’s balance sheet and results of operations, reference is made to the Company’s quarterly supplemental disclosures for the relevant periods furnished on the Company’s Current Report on Form 8-K, which is available on the SEC’s website at www.sec.gov and on the Company’s website at www.acadiarealty.com.

 

  

 

  

 

(2)

  

Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common shares of the Company were exercised or converted into common shares. The effect of the conversion of units of limited partnership interest (“OP Units”) in Acadia Realty Limited Partnership, the operating partnership of the Company (the “Operating Partnership”), is not reflected in the above table; OP Units are exchangeable into common shares on a one-for-one basis. The income allocable to such OP units is allocated on the same basis and reflected as noncontrolling interests in the consolidated financial statements. As such, the assumed conversion of these OP Units would have no net impact on the determination of diluted earnings per share.

 

  

 

  

 

(3)

  

The Company considers funds from operations (“FFO”) as defined by the National Association of Real Estate Investment Trusts (“NAREIT”) and net property operating income (“NOI”) to be appropriate supplemental disclosures of operating performance for an equity REIT due to their widespread acceptance and use within the REIT and analyst communities. In addition, the Company believes that given the atypical nature of certain unusual items (as further described below), “FFO Before Special Items” is also an appropriate supplemental disclosure of operating performance. FFO, FFO Before Special Items and NOI are presented to assist investors in analyzing the performance of the Company. The Company believes they are helpful as they exclude various items included in net income (loss) that are not indicative of operating performance, such as (i) gains (losses) from sales of real estate properties; (ii) depreciation and amortization and (iii) impairment of depreciable real estate properties. In addition, NOI excludes interest expense and FFO Before Special Items excludes certain unusual items (as further described below). The Company’s method of calculating FFO, FFO Before Special Items and NOI may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs. Neither FFO nor FFO Before Special Items represent cash generated from operations as defined by generally accepted accounting principles (“GAAP”), or are indicative of cash available to fund all cash needs, including distributions. Such measures should not be considered as an alternative to net income (loss) for the purpose of evaluating the Company’s performance or to cash flows as a measure of liquidity.

 

  

 

  

 

 

  

a.

  

Consistent with the NAREIT definition, the Company defines FFO as net income (computed in accordance with GAAP) excluding:

 

  

 

  

 

 

  

 

  

i.

gains (losses) from sales of real estate properties;

 

  

 

  

 

 

  

 

  

ii.

depreciation and amortization;

 

  

 

  

 

 

  

 

  

iii.

impairment of real estate properties;

 

  

 

  

 

 

  

 

  

iv.

gains and losses from change in control; and

 

  

 

  

 

 

  

 

  

v.

after adjustments for unconsolidated partnerships and joint ventures.

 

  

 

  

 

 

  

b.

  

Also consistent with NAREIT’s definition of FFO, the Company has elected to include: the impact of the unrealized holding gains (losses) incidental to its main business, including those related to its RCP investments such as Albertsons in FFO.

 

  

 

  

 

 

  

c.

  

FFO Before Special Items begins with the NAREIT definition of FFO and adjusts FFO (or as an adjustment to the numerator within its earnings per share calculations) to take into account FFO without regard to certain unusual items including:

 

  

 

  

 

 

  

 

  

i.

charges, income and gains that management believes are not comparable and indicative of the results of the Company’s operating real estate portfolio;

 

  

 

  

 

 

  

 

  

ii.

the impact of the unrealized holding gains (losses) incidental to its main business, including those related to its Retailer Controlled Property Venture (“RCP”) investments such as Albertsons; and

 

  

 

  

 

 

  

 

  

iii.

any realized income or gains from the Company’s investment in Albertsons.

 

  

 

  

 

(4)

  

The Company defines Special Items to include (i) unrealized holding losses or gains (net of noncontrolling interest share) on investments and (ii) other costs that do not occur in the ordinary course of our underwriting and investing business.
     

(5)

  

The pro-rata share of NOI is based upon the Operating Partnership’s stated ownership percentages in each venture or Investment Management’s operating agreement and does not include the Operating Partnership’s share of NOI from unconsolidated partnerships and joint ventures within Investment Management.
 

(6)

Results for the year ended December 31, 2023 included a non-recurring gain of $7.8 million from the termination of the Bed Bath and Beyond (“BBBY”) below-market lease at 555 9th Street in San Francisco.

 

Sandra Liang

(914) 288-3356

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Professional Services Residential Building & Real Estate Commercial Building & Real Estate Finance Construction & Property REIT Banking

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NCR Voyix Appoints Darren Wilson as EVP & President, Retail and Payments

NCR Voyix Appoints Darren Wilson as EVP & President, Retail and Payments

ATLANTA–(BUSINESS WIRE)–
NCR Voyix Corporation (NYSE: VYX), a leading global provider of digital commerce solutions, today announced the appointment of Darren Wilson as its new EVP & President, Retail and Payments, effective immediately.

“Darren is a proven, growth-oriented leader and trusted colleague who has already added tremendous benefit since joining NCR Voyix last year,” said James G. Kelly, President & CEO, NCR Voyix. “I look forward to working with Darren as we continue to drive enhanced value for our existing base of retail customers and new customers, both in the U.S. and across the globe.”

Mr. Wilson, who previously served as EVP & President, International, will now be responsible for driving the company’s retail and payments growth strategy through enhanced sales, product delivery and customer satisfaction, across its entire global footprint. Mr. Wilson will succeed Eric Schoch who has held various key leadership positions in the company’s retail business since 2016. Mr. Schoch will transition to lead key strategic product initiatives for the company and will continue to report to Mr. Kelly.

“Eric has been instrumental in laying the foundation for the company’s retail product strategy, specifically our Next Generation cloud solutions, which have fortified our position as a leading global technology provider,” said Mr. Kelly.

About NCR Voyix

NCR Voyix Corporation (NYSE: VYX) is a leading global provider of digital commerce solutions for the retail and restaurant industries. NCR Voyix transforms retail stores and restaurant systems through experiences with comprehensive, platform-led SaaS and services capabilities. NCR Voyix is headquartered in Atlanta, Georgia, with customers in more than 30 countries across the globe.

News Media Contact

[email protected]

Investor Contact

Sarah Jane Schneider

[email protected]

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Retail Restaurant/Bar Other Retail Apps/Applications Technology Software Networks

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CrowdStrike Announces Date of Fourth Quarter and Fiscal Year 2025 Financial Results Conference Call

CrowdStrike Announces Date of Fourth Quarter and Fiscal Year 2025 Financial Results Conference Call

AUSTIN, Texas–(BUSINESS WIRE)–
CrowdStrike Holdings, Inc. (Nasdaq: CRWD), today announced that it will release financial results for its fourth quarter and fiscal year 2025 ended January 31, 2025 after the U.S. market close on Tuesday, March 4, 2025. CrowdStrike will host a conference call that day at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the results.

To register for the live event please visit https://crowdstrike-q4-and-fy25-financial-results-conference-call.open-exchange.net/

A live webcast of the conference call and the financial results press release will be accessible from the CrowdStrike investor relations website at ir.crowdstrike.com. An audio webcast replay of the conference call will be available on the investor relations website for one year.

About CrowdStrike Holdings

CrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data.

Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities.

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value.

CrowdStrike: We stop breaches.

For more information, please visit: ir.crowdstrike.com

© 2025 CrowdStrike, Inc. All rights reserved. CrowdStrike and CrowdStrike Falcon are marks owned by CrowdStrike, Inc. and are registered in the United States and other countries. CrowdStrike owns other trademarks and service marks and may use the brands of third parties to identify their products and services.

Investor Relations Contact

CrowdStrike Holdings, Inc.

Maria Riley

[email protected]

669-721-0742

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Professional Services Data Management Security Data Analytics Technology Software Artificial Intelligence

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Baxter Declares Quarterly Dividend

Baxter Declares Quarterly Dividend

DEERFIELD, Ill.–(BUSINESS WIRE)–
Baxter International Inc. (NYSE:BAX), a global medtech leader, today announced that its Board of Directors has declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on April 1, 2025, to stockholders of record as of Feb. 28, 2025. The indicated annual dividend rate is $0.68 per share of common stock.

About Baxter

Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s leading portfolio of diagnostic, critical care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For more than 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on X, LinkedIn and Facebook.

This release includes forward-looking statements concerning the company’s capital allocation, which currently includes the issuance of quarterly dividends. These forward-looking statements are based on assumptions about many factors (including Baxter’s ability to achieve its short- and long-term financial goals), and it is possible that Baxter’s annual dividend payout rate may differ, possibly materially, from the anticipated annual indicative dividend described herein or may be suspended for a period of time. For information about some of the risks and important factors that could affect Baxter’s future results, financial condition and liquidity, see Baxter’s most recent filings on Forms 10-K and 10-Q and other SEC filings, all of which are available on Baxter’s website. Baxter does not undertake to update its forward-looking statements unless otherwise required by the federal securities laws.

Baxter is a registered trademark of Baxter International Inc.

Media Contact

Steve Brett, (224) 948-5353

[email protected]

Investor Contact

Clare Trachtman, (224) 948-3020

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Medical Supplies Health Medical Devices Hospitals Health Technology Pharmaceutical Biotechnology

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Chemours Appoints Leslie M. Turner to its Board of Directors

Chemours Appoints Leslie M. Turner to its Board of Directors

Former Hershey and Coca-Cola Executive adds extensive legal, governance, and policy expertise to Chemours’ Board of Directors

WILMINGTON, Del.–(BUSINESS WIRE)–
The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Thermal & Specialized Solutions (TSS), Titanium Technologies (TT), and Advanced Performance Materials (APM), today announced the appointment of Leslie M. Turner to its Board of Directors, effective February 19, 2025. The Company also announced the date for its 2025 Annual Shareholders Meeting.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250211667601/en/

Chemours appoints Leslie M. Turner to its Board of Directors effective February 19, 2025 (Photo: Business Wire)

Chemours appoints Leslie M. Turner to its Board of Directors effective February 19, 2025 (Photo: Business Wire)

Turner brings extensive experience advising Boards, corporate executives, and government leaders on legal matters, corporate governance, public policy, global risk management, and strategic planning. Turner started her legal career in 1985 as a judicial law clerk to William C. Pryor, Chief Judge, D.C. Court of Appeals, before joining the global law firm Akin Gump Strauss Hauer & Feld as a litigation associate and later rising to Partner. From 1993 to 1996, Turner held significant roles within the U.S. Department of the Interior, including as assistant secretary for the Office of Territorial and International Affairs (later replaced by the Office of Insular Affairs), and subsequently as counselor to Secretary Bruce Babbitt and as director of the Office of Intergovernmental Affairs. In 2006, Turner joined the Coca-Cola Company, where she first served as associate general counsel for the company’s bottling investment group and later as general counsel for Coca-Cola North America. In 2018, she retired from The Hershey Company after nearly six years as Senior Vice President, General Counsel, and Corporate Secretary, where she led the company’s legal, government relations, and corporate security functions.

“Turner’s extensive experience with corporate governance and her proven track record of success in navigating complex legal, regulatory, geopolitical and business environments speaks for itself,” said Dawn Farrell, Chemours’ Board Chair. “She brings additive skills and a range of new perspective to the Chemours Board that will prove invaluable as Chemours continues to drive its refreshed business strategy, Pathway to Thrive, and create long-term shareholder value.”

Turner serves on the Board of Directors for FirstEnergy Corporation, as well as several non-profit boards for Georgetown, Stillman College, Manor College, and The Bay Park Conservancy. She holds a Bachelor of Science degree from New York University, a Juris Doctor degree from Georgetown University Law Center, and a Master of Laws in Law and Government from American University’s Washington College of Law.

2025 Annual Meeting of Shareholders Update

Chemours also announced today that the Company is returning to its regular annual meeting calendar in 2025, with its Annual Meeting of Shareholders to be held on April 22, 2025, at 10:00 a.m. Eastern Daylight Time.

About The Chemours Company

The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 6,100 employees and 28 manufacturing sites and serves approximately 2,700 customers in approximately 110 countries.

For more information, we invite you to visit chemours.com or follow us on X (formerly Twitter) @Chemours or LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words “believe,” “expect,” “will,” “anticipate,” “plan,” “estimate,” “target,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the advancement of our growth strategy and the impact of individual expertise on the company’s strategy and performance, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized, such as full year guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours’ control. Matters outside our control, including general economic conditions, geopolitical conditions and global health events, have affected or may affect our business and operations and may or may not continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”), including in our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

Additional Information and Where to Find It

The Company will file with the SEC a proxy statement with respect to the Company’s 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”). Shareholders are strongly encouraged to read the proxy statement, when available, and other documents filed with the SEC carefully in their entirety because they will contain important information. Shareholders will be able to obtain any proxy statement, any amendments or supplements thereto and other documents filed by the Company with the SEC free of charge at the SEC’s website at www.sec.gov or at the Company’s Investors relations website at https://investors.chemours.com/.

Certain Information Regarding Participants

The Company, its directors and certain of its executive officers will be participants in the solicitation of proxies from the Company’s shareholders in connection with the matters to be considered at the 2025 Annual Meeting. Information about the Company’s directors and executive officers is available in the Company’s annual report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 27, 2024, and the proxy statement filed with the SEC on April 11, 2024 with respect to the Company’s 2024 Annual Meeting. To the extent holdings of the Company’s securities by such directors or executive officers have changed since the amounts printed in the proxy statement with respect to the Company’s 2024 Annual Meeting of Shareholders, such changes have been or will be reflected on Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Additional information regarding the participants and their direct or indirect securities holdings will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the Company’s 2025 Annual Meeting.

INVESTORS

Brandon Ontjes

VP, Head of Strategy & Investor Relations

+1.302.773.3300

[email protected]

NEWS MEDIA

Cassie Olszewski

Media Relations & Reputation Leader

+1.302.219.7140

[email protected]

KEYWORDS: Delaware United States North America

INDUSTRY KEYWORDS: Engineering Semiconductor Chemicals/Plastics Technology Oil/Gas Manufacturing Energy

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Chemours appoints Leslie M. Turner to its Board of Directors effective February 19, 2025 (Photo: Business Wire)
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Chimera Declares First Quarter 2025 Preferred Stock Dividends

Chimera Declares First Quarter 2025 Preferred Stock Dividends

  • BOARD DECLARES FIRST QUARTER 2025 DIVIDEND OF $0.50 PER SHARE OF 8.00% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK

  • BOARD DECLARES FIRST QUARTER 2025 DIVIDEND OF $0.6488 PER SHARE OF 8.00% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK

  • BOARD DECLARES FIRST QUARTER 2025 DIVIDEND OF $0.484375 PER SHARE OF 7.75% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK

  • BOARD DECLARES FIRST QUARTER 2025 DIVIDEND OF $0.6231 PER SHARE OF 8.00% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK

NEW YORK–(BUSINESS WIRE)–
The Board of Directors of Chimera announced the declaration of its first quarter cash dividend of $0.50 per share of 8.00% Series A Cumulative Redeemable Preferred Stock. The dividend is payable March 31, 2025 to preferred shareholders of record on March 3, 2025. The ex-dividend date is March 3, 2025.

The Board of Directors of Chimera also announced the declaration of its first quarter cash dividend of $0.6488 per share of 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, which reflects a rate of 10.38139%, equal to three-month CME Term SOFR (plus a spread adjustment of 0.26161%) on the dividend determination date plus a spread of 5.791%. The dividend is payable March 31, 2025 to preferred shareholders of record on March 3, 2025. The ex-dividend date is March 3, 2025.

The Board of Directors of Chimera also announced the declaration of its first quarter cash dividend of $0.484375 per share of 7.75% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The dividend is payable March 31, 2025 to preferred shareholders of record on March 3, 2025. The ex-dividend date is March 3, 2025.

The Board of Directors of Chimera also announced the declaration of its first quarter cash dividend of $0.6231 per share of 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, which reflects a rate of 9.96939%, equal to three-month CME Term SOFR (plus a spread adjustment of 0.26161%) on the dividend determination date plus a spread of 5.379%. The dividend is payable March 31, 2025 to preferred shareholders of record on March 3, 2025. The ex-dividend date is March 3, 2025.

About Chimera Investment Corporation

Chimera is a publicly traded real estate investment trust, or REIT, that is primarily engaged in the business of investing for itself and for unrelated third parties through its investment management and advisory services in a diversified portfolio of real estate assets, including residential mortgage loans, Non-Agency RMBS, Agency RMBS, business purpose and investor loans, including RTLs, MSRs, and other real estate-related assets such as Agency CMBS, junior liens and HELOCs, equity appreciation rights, and reverse mortgages.

Forward-Looking Statements

In this press release references to “we,” “us,” “our” or “the Company” refer to Chimera Investment Corporation and its subsidiaries unless specifically stated otherwise or the context otherwise indicates. This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “goal,” “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “would,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” or similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among other things, those described in our most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under the caption “Risk Factors.” Factors that could cause actual results to differ include, but are not limited to: our ability to obtain funding on favorable terms and access the capital markets; our ability to achieve optimal levels of leverage and effectively manage our liquidity; changes in inflation, the yield curve, interest rates and mortgage prepayment rates; our ability to manage credit risk related to our investments and comply with the Risk Retention Rules; rates of default, delinquencies, forbearance, deferred payments or decreased recovery rates on our investments; the concentration of properties securing our securities and residential loans in a small number of geographic areas; our ability to execute on our business and investment strategy; our ability to determine accurately the fair market value of our assets; changes in our industry, the general economy or geopolitical conditions; our ability to successfully integrate and realize the anticipated benefits of any acquisitions, including the Palisades Acquisition; our ability to operate our investment management and advisory services and manage any regulatory rules and conflicts of interest; the degree to which our hedging strategies may or may not be effective; our ability to effect our strategy to securitize residential mortgage loans; our ability to compete with competitors and source target assets at attractive prices; our ability to find and retain qualified executive officers and key personnel; the ability of servicers and other third parties to perform their services at a high level and comply with applicable law and expanding regulations; our dependence on information technology and its susceptibility to cyber-attacks; our ability to comply with extensive government regulation; the impact of and changes in governmental regulations, tax law and rates, accounting guidance, and similar matters; our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended; our ability to maintain our classification as a real estate investment trust for U.S. federal income tax purposes; the volatility of the market price and trading volume of our shares; and our ability to make distributions to our stockholders in the future.

Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Chimera does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Additional information concerning these, and other risk factors is contained in Chimera’s most recent filings with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements concerning Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

Readers are advised that any financial information in this press release is based on Company data available at the time of this presentation and, in certain circumstances, may not have been audited by Chimera’s independent auditors.

Investor Relations

888-895-6557

www.chimerareit.com

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Professional Services Residential Building & Real Estate Finance Construction & Property REIT Banking

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NCR Voyix Appoints Darren Wilson as EVP & President, Retail and Payments

NCR Voyix Appoints Darren Wilson as EVP & President, Retail and Payments

ATLANTA–(BUSINESS WIRE)–
NCR Voyix Corporation (NYSE: VYX), a leading global provider of digital commerce solutions, today announced the appointment of Darren Wilson as its new EVP & President, Retail and Payments, effective immediately.

“Darren is a proven, growth-oriented leader and trusted colleague who has already added tremendous benefit since joining NCR Voyix last year,” said James G. Kelly, President & CEO, NCR Voyix. “I look forward to working with Darren as we continue to drive enhanced value for our existing base of retail customers and new customers, both in the U.S. and across the globe.”

Mr. Wilson, who previously served as EVP & President, International, will now be responsible for driving the Company’s retail and payments growth strategy through enhanced sales, product delivery and customer satisfaction, across its entire global footprint. Mr. Wilson will succeed Eric Schoch who has held various key leadership positions in the Company’s retail business since 2016. Mr. Schoch will transition to lead key strategic product initiatives for the Company and will continue to report to Mr. Kelly.

“Eric has been instrumental in laying the foundation for the Company’s retail product strategy, specifically our Next Generation cloud solutions, which have fortified our position as a leading global technology provider,” said Mr. Kelly.

About NCR Voyix

NCR Voyix Corporation (NYSE: VYX) is a leading global provider of digital commerce solutions for the retail and restaurant industries. NCR Voyix transforms retail stores and restaurant systems through experiences with comprehensive, platform-led SaaS and services capabilities. NCR Voyix is headquartered in Atlanta, Georgia, with customers in more than 30 countries across the globe.

News Media Contact

[email protected]

Investor Contact

Sarah Jane Schneider

[email protected]

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Software Restaurant/Bar Other Retail Payments Technology Electronic Commerce Online Retail Retail

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Tennant Company Declares Regular Quarterly Cash Dividend

Tennant Company Declares Regular Quarterly Cash Dividend

MINNEAPOLIS–(BUSINESS WIRE)–
Directors of Tennant Company (NYSE: TNC) today declared a regular quarterly cash dividend of $0.295 per share payable March 14, 2025, to shareholders of record at the close of business on February 28, 2025.

Company Profile

Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in the design, manufacture and marketing of solutions that help create a cleaner, safer and healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant’s global field service network is the most extensive in the industry. Tennant Company had sales of $1.24 billion in 2023 and has approximately 4,500 employees. Tennant has manufacturing operations throughout the world and sells products direct in 21 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol “®” are trademarks of Tennant Company registered in the United States and/or other countries.

Category: Dividends

INVESTOR CONTACT:

Lorenzo Bassi

Vice President, Finance and Investor Relations

[email protected]

763-540-1242

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Retail Chemicals/Plastics Other Retail Manufacturing Other Manufacturing Office Products

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