NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN)

Thursday

3:07 AM

Thesis: Recent declines in net income and occupancy rates have raised concerns about the sustainability of revenue streams, overshadowing potential growth from new developments.

Revenue Outlook

Metric	FY2024	FY2025
Revenue	$81M	$89M
Rev. Growth	+8.1%	+10.8%
EPS	$4.46	$1.72
EPS Growth	+87.4%	-61.4%
P/E	13.2×	34.1×

What Moves the Stock

1Changes in local housing demand in Greater Boston
2Occupancy rates across its multifamily properties
3Interest rate fluctuations impacting mortgage rates and property valuations
4Regulatory changes affecting real estate development
5Residential rental income - 70%
6Commercial rental income - 30%
7Urban redevelopment and revitalization
8Sustainability in real estate management

FY2025 Snapshot

Revenue: $89M
Rev. Growth: +10.8%
Gross Margin: 16.4%
Op. Margin: 24.4%
Net Margin: 6.8%
Net Income: $6M
NI Growth: -61.5%
EPS: $1.72
1Y Return: -17.6%

NEN Chart

My Notes

"Management noted, 'While we see opportunities in the market, current economic conditions present significant challenges.'"
Moat: NEN's established presence in the Boston market provides a competitive edge, but this is challenged by increasing competition.
value - Investors may be drawn to NEN due to its low market cap relative to its asset base and potential for recovery.
Rising interest rates can increase financing costs for property acquisitions and reduce affordability for renters…
Watch on earnings: Occupancy rates in Boston's multifamily market, Local housing price trends, Interest rates (30-Year Fixed Mortgage Rate).

One Sentence Summary:

New England Realty Associates Limited Partnership: the story is balanced — changes in local housing demand in greater boston.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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