0001193125-26-192096
SEC filingOperating income grew 14.8% on cost discipline, but net loss persisted due to higher interest costs and reduced swap benefits.
Net loss improved slightly to -$6.8 million from -$6.9 million, a 2.1% improvement. The decrease in net loss was primarily due to a decrease in benefit from swaps, which reduced other income. Diluted EPS remained unchanged at -$0.27.
Same-store rental income declined due to lower occupancy and effective rent, though specific figures were not provided. Management expects to meet short-term liquidity needs through operating cash flows, existing cash, and unused credit facility capacity. Long-term liquidity will be funded by property acquisitions, renovations, and capital expenditures. The company believes available cash and expected operating cash flows will be sufficient for the next twelve months.