Pasadena REIT Posts $8.44 Loss, Shares Jolt
Pasadena REIT Q4 Earnings: Key Metrics and Guidance Although Pasadena REIT delivered a narrow funds from operations beat in Q4 2025, it posted a net loss of $1.08 billion, or $6.35 per share. The results arrive as U.S. CRE prices are down about 18% from their late 2025 peak, while elevated borrowing costs continue to weigh on financing conditions across the sector. Occupancy of its operating North America properties ended the year at 94.6% . FFO was $368.5 million, or $2.16 per share, and revenue was $754.4 million. Key Metrics Under Stress Same-property revenue declined 13.7% in Q4 2025. Same-store net operating income fell 37.8%. Full-year 2025 FFO totaled $1.53 billion, or $2.33 per share. Annual revenue was $3.03 billion. Guidance and Dividend Disruption Full-year earnings per share guidance is $2.57 to $2.77. Depreciation and amortization is estimated at $6.70. Adjusted FFO per share consensus had slipped to $2.15. Board remarks cited continued occupancy normalization and lease-u...