Risk Factors Update Summary
- Added changes in interest rates and financing availability, which may impact financial results.
- Added mention of adverse economic conditions affecting tenant businesses, potentially impacting operations.
- Added details on the industries leased to, highlighting e-commerce resistance and potential vulnerabilities.
- Increased the number of interest rate swap agreements from 19 to 25, with a notional amount of $1.0 billion.
- Increased common stock outstanding from 142 to 164 million shares, with 553 million shares held directly or indirectly.
- Extended the expiration date of leases representing 0.4% of annualized base rent from 2024 to 2029.
- Added mention of the Secured Overnight Financing Rate (SOFR) replacing LIBOR as the floating rate benchmark.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1728951&owner=exclude
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