Lightstone Value Plus Real Estate Investment Trust III, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 11, 2022 at 03:50 pm EDT
Share
Lightstone Value Plus Real Estate Investment Trust III, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 7.99 million compared to USD 5.36 million a year ago. Net income was USD 1.3 million compared to net loss of USD 0.475 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to basic loss per share from continuing operations of USD 0.04 a year ago.
For the six months, sales was USD 13.73 million compared to USD 9.07 million a year ago. Net income was USD 0.31 million compared to net loss of USD 2.58 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.19 a year ago.
Lightstone Value Plus REIT III, Inc. is a real estate investment trust (REIT). The Company conducts its business through Lightstone Value Plus REIT III LP, a Delaware limited partnership (the Operating Partnership). Through the Operating Partnership, the Company owns, operates, and develops commercial properties and makes real estate-related investments. It has primarily acquired, developed, and operated commercial hospitality properties, principally consisting of limited-service hotels and one full-service hotel, all located in the U.S. Its primary objective is to achieve capital appreciation with a secondary objective of income without subjecting the principal to undue risk. The Company may invest up to 20% of its net assets in collateralized debt obligations, commercial mortgage-backed securities (CMBS) and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly. Its advisor is Lightstone Value Plus REIT III LLC.
LIGHTSTONE VALUE PLUS REIT III, INC. 
