01:53 PM EDT, 03/13/2024 (MT Newswires) -- BSR Real Estate Investment Trust overnight Tuesday reported fourth-quarter adjusted funds from operations of US$12.4 million, or US$0.22 per unit, down from US$12.5 million, or US$0.22 per unit, a year earlier.

Four analysts polled by Capital IQ expected US$0.22.

Total portfolio revenue for the quarter ended Dec. 31, 2023, was US$42.1 million, up from US$41.6 million a year earlier.

A sole analyst surveyed by Capital IQ expected US$42.3 million.

Net operating income, Total Portfolio, for Q4 was US$22.5 million, down from US$23.2 million a year earlier.

Net Asset Value was US$953.1 million, or US$17.71 per unit, as of Dec. 31, 2023, as compared with US$1.24 billion, or US$21.75 per unit, as of Dec. 31, 2022.

As of Dec. 31, 2023, the REIT had liquidity of US$123.4 million, consisting of cash and cash equivalents of US$6.7 million and US$116.7 million available on the credit facility.

For 2024, the company is expecting adjusted funds from operations of US$0.84 to US$0.90 per unit. The midpoint of the range is US$0.87.

Under Same Community Growth, the company is expecting revenue of 1% to 3%, property operating expenses and real estate taxes of 1% to 3%, and NOI of 1% to 3%.

The company's shares rose 2.6% on last look on Wednesday.

Price: 15.75, Change: +0.40, Percent Change: +2.61