Comstock Q1 earnings rise on portfolio growth, leasing momentum
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Comstock Holding Companies (CHCI) reported a year-over-year increase in Q1 earnings per share and revenue, driven by leasing momentum and portfolio expansion. The company also benefited from recurring fee-based income. The results reflect continued operational strength despite broader market headwinds.
Earnings Performance
Comstock reported Q1 earnings per share of $0.12, up from $0.08 in the year-ago quarter. Revenue rose 18% to $24.5 million, driven by a 12% increase in leasing volume and the addition of 150,000 square feet of new portfolio space. Recurring fee-based income contributed $3.2 million, a 22% year-over-year gain.
Portfolio Expansion
The company expanded its managed portfolio to 4.2 million square feet, up from 3.8 million a year earlier. New contracts included a 50,000-square-foot office lease in Tysons Corner and a 30,000-square-foot retail space in Reston. CHCI's occupancy rate improved to 92%, compared to 89% in Q1 2025.
What's Next
Comstock expects to close two additional acquisitions in Q2, adding roughly 200,000 square feet. However, rising interest rates and potential economic slowdown could temper leasing demand in the second half of the year.
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Comstock Q1 earnings rise on portfolio growth, leasing momentum
