Alexander & Baldwin, Inc. announced net income available to common shareholders of $21.4 million, or $0.29 per diluted share, for the first quarter of 2025. Commercial Real Estate (CRE) operating profit for the quarter was $23.4 million, demonstrating solid performance.
The company achieved a CRE Same-Store NOI growth of 4.2% in Q1 2025, reflecting healthy leasing demand and effective property management. Total leased occupancy improved to 95.4%, an increase of 140 basis points year-over-year.
Management revised its full-year 2025 guidance, raising FFO per diluted share to a range of $1.17 to $1.23, up from the initial guidance of $1.13 to $1.20. This upward adjustment, alongside the sale of 90 acres of agriculture-zoned land and settlement of legacy liabilities, underscores the company's successful streamlining efforts and positive outlook.
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