Canada · Delayed Price · Currency is CAD InterRent Real Estate Investment Trust Earnings Call Transcripts
Fiscal Year 2025
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Occupancy and AMR growth drove solid revenue and FFO gains, despite higher operating costs from weather and utilities. Dispositions and unit buybacks strengthened the balance sheet, while guidance for 5%-6% same property revenue growth in 2025 remains intact.
Fiscal Year 2024
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Delivered record NOI margins and double-digit FFO/AFFO growth in 2024, supported by strong rent increases and high occupancy. Strategic asset sales funded significant unit buybacks and debt reduction, while cautious development and capital allocation reflect ongoing market uncertainties.
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Q3 saw strong occupancy and rent growth, with FFO and AFFO up nearly 10% year-over-year. Strategic capital recycling funded a major Montreal acquisition, while management expects more moderate rental growth ahead due to policy and supply changes.
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Q2 2024 saw strong revenue, NOI, and FFO growth, with high occupancy and robust rental rate increases. Expense growth slowed, margins expanded, and liquidity improved through asset sales and refinancing. Market fundamentals remain tight, supporting continued growth.