Question · Q4 2025
Ianna Gallen sought clarification on the timing of 1031 exchange acquisitions, whether the company would be a net seller for the year, and the front-loaded nature of share buyback activity.
Answer
Alex Jessett, President and CFO, clarified that the California sale, Sun Belt redeployment, and share repurchases are expected to be net neutral to 2026 guidance. He anticipated the California sale and redeployment to occur mid-year, with share repurchases being front-loaded due to the stock's attractive valuation. He also noted that any inability to redeploy capital would likely lead to a special dividend.
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