Latest news with #U-Haul
Yahoo
18 hours ago
- Business
- Yahoo
EquityMultiple Announces Successful Funding of Multifamily Development in Charlotte
NEW YORK CITY, NY / / June 3, 2025 / EquityMultiple, a leading real estate investment platform for accredited investors, recently closed a $3 million co-GP equity investment in the development of Poindexter Southend, a 263-unit Class A multifamily and mixed-use property in the South End neighborhood of Charlotte, North Carolina. Led by seasoned Sponsor Avery Hall Investments, the project will deliver a luxury eight-story residential building with 1,200 square feet of retail, surrounded by vibrant nightlife, retail, and transit access. The investment took nine days to fund, and is one of the fastest-funded investments in EquityMultiple's decade-long history. "The strength and experience of the Sponsor coupled with the attractive going-in basis in a great infill location all contributed to the success and speed of the raise," said Marious Sjulsen, EquityMultiple's CIO. "The site is shovel-ready, and construction is expected to begin as soon as the loan closes. We are excited to be part of this project with such a strong team." The Poindexter Southend project represents an especially timely opportunity for investors. Charlotte remains one of the premier migration destinations in the U.S., with population growth twice the national average since 2010. The city also ranked #2 in U-Haul's 2024 Migration Report, with an estimated 117 new residents per day, fueling continued housing demand. In the South End of Charlotte, where Poindexter Southend is located, this demand is concentrated among renters seeking walkable, amenity-rich neighborhoods with access to transit and employment hubs. Moreover, as an asset class, multifamily has seen a "flight to quality" after the rapid increase in rents post-COVID. Since its inception in 2015, and aided by its strategic partnership with Marcus & Millichap beginning in 2023, EquityMultiple has developed a targeted, institutional approach to the real estate crowdfunding concept. Through its nationwide network of over 60,000 self-directed investors, EquityMultiple has provided financing for hundreds of commercial real estate transactions, including Poindexter Southend, and distributes a comprehensive track record to investors containing metrics on all investments dating back to 2015. This year, the platform was selected as the "Best Real Estate Crowdfunding Site for Transparency" by Investopedia. Through its subsidiary EM Investment Partners (EMIP), EquityMultiple has also provided flexible capital markets solutions to dozens of sponsors and operators across the U.S. in various forms: JV equity (LP and co-GP); senior debt; mezzanine and subordinate debt; and preferred equity. The Poindexter Southend project is EquityMultiple's first collaboration with Avery Hall Investments. About EquityMultiple EquityMultiple's mission is to guide investors toward a stronger, more diversified portfolio. EquityMultiple brings accredited investors curated real estate private equity and private credit opportunities, broadening and streamlining access to CRE. Founded in 2015, EquityMultiple has completed 250 transactions totaling over $21 billion in total capitalization across 142 markets nationwide. For more information, visit Contact Information Daniel Breretonpress@ SOURCE: Equity Multiple Inc View the original press release on ACCESS Newswire
Yahoo
7 days ago
- Business
- Yahoo
U-Haul (NYSE:UHAL) Beats Q1 Sales Targets
Moving and storage solutions provider U-Haul (NYSE:UHAL) beat Wall Street's revenue expectations in Q1 CY2025, with sales up 12.5% year on year to $1.23 billion. Its GAAP loss of $0.41 per share was significantly below analysts' consensus estimates. Is now the time to buy U-Haul? Find out in our full research report. Revenue: $1.23 billion vs analyst estimates of $1.16 billion (12.5% year-on-year growth, 6.7% beat) EPS (GAAP): -$0.41 vs analyst estimates of -$0.17 (significant miss) Operating Margin: -3.5%, in line with the same quarter last year Market Capitalization: $10.96 billion 'We are seeing the high prices we paid for fleet replacements over the last thirty months impact the income statement. Reduced gains on the sale of rental equipment and increased fleet depreciation expense decreased earnings by nearly $260 million for the year compared to fiscal 2024. We have increased depreciation further to recognize this expense in the current period,' stated Joe Shoen, chairman of U-Haul Holding Company. Founded by a husband and wife duo, U-Haul (NYSE:UHAL) is a provider of rental trucks and storage facilities. Examining a company's long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Over the last five years, U-Haul grew its sales at a decent 7.9% compounded annual growth rate. Its growth was slightly above the average industrials company and shows its offerings resonate with customers. We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. U-Haul's recent performance shows its demand has slowed as its revenue was flat over the last two years. We also note many other Ground Transportation businesses have faced declining sales because of cyclical headwinds. While U-Haul's growth wasn't the best, it did do better than its peers. This quarter, U-Haul reported year-on-year revenue growth of 12.5%, and its $1.23 billion of revenue exceeded Wall Street's estimates by 6.7%. We also like to judge companies based on their projected revenue growth, but not enough Wall Street analysts cover the company for it to have reliable consensus estimates. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) stock benefiting from the rise of AI. Click here to access our free report one of our favorites growth stories. U-Haul has been a well-oiled machine over the last five years. It demonstrated elite profitability for an industrials business, boasting an average operating margin of 20.9%. This result isn't too surprising as its gross margin gives it a favorable starting point. Looking at the trend in its profitability, U-Haul's operating margin decreased by 8.8 percentage points over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. In Q1, U-Haul generated an operating profit margin of negative 3.5%, in line with the same quarter last year. This indicates the company's cost structure has recently been stable. Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Sadly for U-Haul, its EPS declined by 4.9% annually over the last five years while its revenue grew by 7.9%. This tells us the company became less profitable on a per-share basis as it expanded due to non-fundamental factors such as interest expenses and taxes. We can take a deeper look into U-Haul's earnings to better understand the drivers of its performance. As we mentioned earlier, U-Haul's operating margin was flat this quarter but declined by 8.8 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its lower earnings; taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For U-Haul, its two-year annual EPS declines of 38.7% show it's continued to underperform. These results were bad no matter how you slice the data. In Q1, U-Haul reported EPS at negative $0.41, down from negative $0.05 in the same quarter last year. This print missed analysts' estimates. Over the next 12 months, Wall Street expects U-Haul's full-year EPS of $1.75 to grow 101%. We were impressed by how significantly U-Haul blew past analysts' revenue expectations this quarter. On the other hand, its EPS missed. Overall, this was a weaker quarter. The stock remained flat at $62.25 immediately after reporting. Is U-Haul an attractive investment opportunity at the current price? We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
U-Haul (UHAL) Q1 Earnings Report Preview: What To Look For
Moving and storage solutions provider U-Haul (NYSE:UHAL) will be reporting earnings tomorrow afternoon. Here's what you need to know. U-Haul beat analysts' revenue expectations by 3.1% last quarter, reporting revenues of $1.39 billion, up 3.7% year on year. It was a mixed quarter for the company, with a significant miss of analysts' EPS estimates. Is U-Haul a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting U-Haul's revenue to grow 5.5% year on year to $1.16 billion, a reversal from the 7.8% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.26 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. U-Haul has missed Wall Street's revenue estimates six times over the last two years. Looking at U-Haul's peers in the ground transportation segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Schneider delivered year-on-year revenue growth of 6.3%, meeting analysts' expectations, and Ryder reported revenues up 1.1%, in line with consensus estimates. Schneider traded up 5.9% following the results while Ryder's stock price was unchanged. Read our full analysis of Schneider's results here and Ryder's results here. There has been positive sentiment among investors in the ground transportation segment, with share prices up 7.9% on average over the last month. U-Haul is up 1.8% during the same time and is heading into earnings with an average analyst price target of $91.86 (compared to the current share price of $61.99). Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
Yahoo
21-05-2025
- Business
- Yahoo
U-Haul to Celebrate 80th Anniversary, Start of Moving Season with NYSE Bell Ringing
PHOENIX, May 21, 2025--(BUSINESS WIRE)--U-Haul® will symbolically kick off "moving season" on Friday with the ringing of the closing bell at the New York Stock Exchange. The ceremony will also mark the start of a special summer for the do-it-yourself moving and self-storage leader, which is celebrating 80 years of empowering American families with residential mobility. Memorial Day weekend begins a busy three-and-a-half month stretch through Labor Day when nearly half of all residential moves in the U.S. occur each year. That means lots of reliable U-Haul trucks and trailers on the roads, and U-Haul teams and local dealers at more than 24,000 rental locations across the U.S. and Canada working to meet the mobility needs of millions of customers. "Moving can be a stressful life event, and for 80 years our job has been to make people's lives easier through accessibility, affordability and support," said Navy veteran and U-Haul Co. of Manhattan/Bronx president Jeff Sonberg, who will ring the closing bell. "We welcome the chance to care for every customer who needs U-Haul services. "It's exciting to ring the bell on another moving season," Sonberg added. "To do so alongside fellow veterans and Gold Star families just before Memorial Day is an honor." Commitment to Veterans U-Haul was founded by a WWII Navy veteran and his wife in 1945, with the first one-way trailers being available to customers on or about Independence Day of that year. The Company's commitment to veterans is as prevalent today as it was then. Recognized consistently as a top veteran-friendly employer, U-Haul commits a substantial portion of its community work toward organizations that honor and address the needs of veterans. U-Haul is a founding sponsor of the 20th annual National Memorial Day Parade and will march again on Monday in Washington, D.C., to salute and remember our fallen heroes and the families that they left behind. Sonberg will be joined on the NYSE floor by Gold Star family members; active-duty military members; Army, Navy and Marine Corps veterans; veteran service representatives of the USO, United War Veterans Council and Achilles International; and FDNY veterans and their veteran liaison. Other distinguished U-Haul members will include Nick Marra, Area District Vice President of the New York City metro area; Allan Cotto, U-Haul Co. of Northern New Jersey president; Felicia Roberts, U-Haul Co. of North Central New Jersey president; Sebastien Reyes, President of A&M Associates, the U-Haul in-house advertising and marketing team; Ashleigh Wagner, Community Relations manager; and Robert Price, Army veteran and customer service rep. Fleet Week Prior to the May 23 closing bell, U-Haul will help put on The Tribute Journey Fleet Week Afternoon Tea from 1-3 p.m. at the NYSE. The tea returns to New York City during Fleet Week (May 21-27) for the first time since the COVID pandemic, honoring Gold Star families, senior officers, veterans, veteran service representatives and the Sea Services. Kathryn Cross, U.S. Navy Gold Star Mother, artist and Tribute Journey founder, has partnered with U-Haul since 2009. Tribute Journeys are expressions of appreciation for current service members and veterans through the delivery of custom-made greeting cards. Cross creates the illustrations and poetic verses, and the cards are printed at U-Haul International headquarters in Phoenix, Ariz. U-Haul produced 45,000 Memorial Day Tribute Journey greeting cards this year that will be delivered to VA hospitals in 49 states before Memorial Day. "Our Tribute Journey Fleet Week Afternoon Tea provides an opportunity for Gold Star parents and families to unite with the military's most senior officers and join together without a schedule, ceremony or media to acknowledge the lives dedicated to service of our country," Cross said. "It's a unique opportunity that allows us nobility and dignity. Everyone deserves to recognize and reflect on the close bond linking our military families." Where are People Moving? What will be the top origins and destinations of U-Haul customers this moving season? Migration trends always pique the public's interest. One-way truck, trailer and U-Box® transactions determine the leading growth states, provinces, metros and cities that U-Haul announces at the end of each calendar year. The U-Haul Growth Index recapping 2024 moves revealed South Carolina was the leading growth state with the largest gain of arrivals over departures. Texas, North Carolina, Florida and Tennessee were top five growth states. California had the biggest net loss of one-way movers, while Massachusetts, New Jersey, New York and Pennsylvania ranked among the last five states for growth. The Dallas-Fort Worth-Arlington area was the No. 1 growth metro, and Ocala (Fla.) was the leading U.S. city for in-migration. Alberta and Calgary topped the U-Haul growth rankings for provinces and cities in Canada, respectively. Stay tuned for 2025 updates and be sure to check your neighborhood to see if the U-Haul trucks are coming or going. About U-HAUL Celebrating our 80th anniversary in 2025, U-Haul is the No. 1 choice of do-it-yourself movers with more than 24,000 rental locations across all 50 states and 10 Canadian provinces. The U-Haul app makes it easy for customers to use U-Haul Truck Share 24/7 to access trucks anytime through the self-dispatch and -return options on their smartphones with our patented Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to 193,100 trucks, 138,700 trailers and 40,200 towing devices. U-Haul is the third largest self-storage operator in North America with 1,037,000 rentable units and 89.6 million square feet of self-storage space at Company-owned and -managed facilities. U-Haul is the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry. Get the U-Haul app from the App Store or Google Play. View source version on Contacts Jeff LockridgeE-mail: publicrelations@ Phone: 602-760-4941Website: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
21-05-2025
- Business
- Business Wire
U-Haul to Celebrate 80th Anniversary, Start of Moving Season with NYSE Bell Ringing
PHOENIX--(BUSINESS WIRE)--U-Haul ® will symbolically kick off 'moving season' on Friday with the ringing of the closing bell at the New York Stock Exchange. 'Moving can be a stressful life event, and for 80 years our job has been to make people's lives easier through accessibility, affordability and support,' said Navy veteran and U-Haul Co. of Manhattan/Bronx president Jeff Sonberg. Share The ceremony will also mark the start of a special summer for the do-it-yourself moving and self-storage leader, which is celebrating 80 years of empowering American families with residential mobility. Memorial Day weekend begins a busy three-and-a-half month stretch through Labor Day when nearly half of all residential moves in the U.S. occur each year. That means lots of reliable U-Haul trucks and trailers on the roads, and U-Haul teams and local dealers at more than 24,000 rental locations across the U.S. and Canada working to meet the mobility needs of millions of customers. 'Moving can be a stressful life event, and for 80 years our job has been to make people's lives easier through accessibility, affordability and support,' said Navy veteran and U-Haul Co. of Manhattan/Bronx president Jeff Sonberg, who will ring the closing bell. 'We welcome the chance to care for every customer who needs U-Haul services. 'It's exciting to ring the bell on another moving season,' Sonberg added. 'To do so alongside fellow veterans and Gold Star families just before Memorial Day is an honor.' Commitment to Veterans U-Haul was founded by a WWII Navy veteran and his wife in 1945, with the first one-way trailers being available to customers on or about Independence Day of that year. The Company's commitment to veterans is as prevalent today as it was then. Recognized consistently as a top veteran-friendly employer, U-Haul commits a substantial portion of its community work toward organizations that honor and address the needs of veterans. U-Haul is a founding sponsor of the 20th annual National Memorial Day Parade and will march again on Monday in Washington, D.C., to salute and remember our fallen heroes and the families that they left behind. Sonberg will be joined on the NYSE floor by Gold Star family members; active-duty military members; Army, Navy and Marine Corps veterans; veteran service representatives of the USO, United War Veterans Council and Achilles International; and FDNY veterans and their veteran liaison. Other distinguished U-Haul members will include Nick Marra, Area District Vice President of the New York City metro area; Allan Cotto, U-Haul Co. of Northern New Jersey president; Felicia Roberts, U-Haul Co. of North Central New Jersey president; Sebastien Reyes, President of A&M Associates, the U-Haul in-house advertising and marketing team; Ashleigh Wagner, Community Relations manager; and Robert Price, Army veteran and customer service rep. Fleet Week Prior to the May 23 closing bell, U-Haul will help put on The Tribute Journey Fleet Week Afternoon Tea from 1-3 p.m. at the NYSE. The tea returns to New York City during Fleet Week (May 21-27) for the first time since the COVID pandemic, honoring Gold Star families, senior officers, veterans, veteran service representatives and the Sea Services. Kathryn Cross, U.S. Navy Gold Star Mother, artist and Tribute Journey founder, has partnered with U-Haul since 2009. Tribute Journeys are expressions of appreciation for current service members and veterans through the delivery of custom-made greeting cards. Cross creates the illustrations and poetic verses, and the cards are printed at U-Haul International headquarters in Phoenix, Ariz. U-Haul produced 45,000 Memorial Day Tribute Journey greeting cards this year that will be delivered to VA hospitals in 49 states before Memorial Day. 'Our Tribute Journey Fleet Week Afternoon Tea provides an opportunity for Gold Star parents and families to unite with the military's most senior officers and join together without a schedule, ceremony or media to acknowledge the lives dedicated to service of our country,' Cross said. 'It's a unique opportunity that allows us nobility and dignity. Everyone deserves to recognize and reflect on the close bond linking our military families.' Where are People Moving? What will be the top origins and destinations of U-Haul customers this moving season? Migration trends always pique the public's interest. One-way truck, trailer and U-Box ® transactions determine the leading growth states, provinces, metros and cities that U-Haul announces at the end of each calendar year. The U-Haul Growth Index recapping 2024 moves revealed South Carolina was the leading growth state with the largest gain of arrivals over departures. Texas, North Carolina, Florida and Tennessee were top five growth states. California had the biggest net loss of one-way movers, while Massachusetts, New Jersey, New York and Pennsylvania ranked among the last five states for growth. The Dallas-Fort Worth-Arlington area was the No. 1 growth metro, and Ocala (Fla.) was the leading U.S. city for in-migration. Alberta and Calgary topped the U-Haul growth rankings for provinces and cities in Canada, respectively. Stay tuned for 2025 updates and be sure to check your neighborhood to see if the U-Haul trucks are coming or going. About U-HAUL Celebrating our 80th anniversary in 2025, U-Haul is the No. 1 choice of do-it-yourself movers with more than 24,000 rental locations across all 50 states and 10 Canadian provinces. The U-Haul app makes it easy for customers to use U-Haul Truck Share 24/7 to access trucks anytime through the self-dispatch and -return options on their smartphones with our patented Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to 193,100 trucks, 138,700 trailers and 40,200 towing devices. U-Haul is the third largest self-storage operator in North America with 1,037,000 rentable units and 89.6 million square feet of self-storage space at Company-owned and -managed facilities. U-Haul is the top retailer of propane in the U.S. and the largest installer of permanent trailer hitches in the automotive aftermarket industry. Get the U-Haul app from the App Store or Google Play.
