From The Motley Fool · Motley Fool Transcribing · · 1m 50s
Vivmark Residential Q3 2026 Earnings Results
Vivmark Residential reports $1.03 per share Core FFO, 2.2% same-store revenue growth, and $1.45 billion upfront value creation after merger.
In brief
Vivmark Residential reports $1.03 per share Core FFO, 2.2% same-store revenue growth, and $1.45 billion upfront value creation after merger. Vivmark Residential achieved $1.03 per share Core FFO for Q3 2026, raised same-store revenue guidance to 2.2%, and reported $1.45 billion upfront value creation from merger…
Q3 2026 Results
Vivmark Residential reported Q3 2026 Core FFO of $1.03 per share.
Same-Store Revenue Guidance
Raised same-store revenue guidance to 2.2% for 2026 from 2.0%.
Gross Annual Synergies
Increased gross annual synergies to $185 million from $175 million target.
Net Annual Synergies
Raised net annual synergies to $135 million from $125 million target.
Merger Costs
Merger costs decreased to $725 million from initial $750 million estimate.
Merger Accretion
Merger accretion increased to 3% from previously projected 2% run rate.
Upfront Value Creation
Upfront value creation increased to $1.45 billion from initial underwriting estimates.
Embedded Revenue Growth
Embedded revenue growth entered 2027 at 1% from 60 basis points in 2026.
Incremental Development NOI
Expected $70 million incremental development NOI in 2027.
Development Pipeline
Development pipeline includes $4.4 billion in active projects with average stabilized yield exceeding 6%.
Physical Occupancy
Physical occupancy at 96% for merged same-store portfolio.
Blended Rate Change
Blended rate change of 3.1% for Q3, 150 basis points increase versus last year.
Net Effective Asking Rents
Net effective asking rents 4% above last year.
Turnover
Turnover declined to 12.7%, 50 basis points lower year over year.
Investment Capacity
$2 billion annual investment capacity on leverage-neutral basis.
Debt Offering
Completed $1 billion debt offering prior to merger closing.
Credit Rating Upgrade
S&P upgraded company from A- to A credit rating.
The big picture
Vivmark Residential achieved $1.03 per share Core FFO for Q3 2026, raised same-store revenue guidance to 2.2%, and reported $1.45 billion upfront value creation from merger synergies.
