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Analyst
Jason Wayne
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 5).
- Questions
- 9on tracked calls
- Challenge rate
- 0%none of 9 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 5with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 9 of 9 questions from 2 companies
ORealty Income8 questions · 5 reporting periods · 0 of 8 challenging
Calendar 2026 Q2
public equity funding was down to 18% of your investment volume this year. Is there any kind of long-term target there
Show response
Management declined a fixed target and pushed back that its private capital sources are permanent and open-ended, not one-time.
Calendar 2026 Q1
You gave $750 million last quarter on track. Is that still the expectation for this year?
Show response
Roy confirmed $750 million disposition volume target remains intact for full year.
could you talk to your expectations on mix for sale versus re-lease and what kind of re-leasing capture -- what kind of recapture rates you're seeing
Show response
Roy detailed multi-factor asset management process using predictive analytics, citing combined recapture rates above 102%-103% with selective 99% haircuts when strategically optimal.
Calendar 2025 Q4
does lower year-over-year occupancy guidance include any lease terms so far in the first quarter?
Show response
Pong confirmed no material Q1 terminations in occupancy guide, and characterized the $30-40M annual lease termination income forecast as opportunistic and episodic rather than linear.
can you give us some color on which tenants or industries are known today?
Show response
Pong identified restaurant chains in the named portion but noted identified credits are the minority of 40-50bp; the unidentified portion is considerably larger by definition.
Calendar 2025 Q2
lease expirations ticked up a bit quarter-over-quarter. I'm just wondering if you could break down how much of that was due to leases rejected
Show response
Roy couldn't break out bankruptcy-driven expirations but noted 93% were existing client renewals, with increasing expiration volume seen as a value creation driver.
how many Family Dollars there actually are included into the Dollar Tree exposure
Show response
Roy quantified ~3% combined exposure splitting to ~2% Family Dollar and ~1% Dollar Tree, with only 10bp of expirations per flag through 2026.
Calendar 2024 Q4
Development spending was down and development yields were up. Year over year in 2024. Just wondering what drove that
Show response
Roy explained higher development yields reflect newer vintage originations in a higher-rate environment, with 2025 proportion expected similar to 2024.
INVHInvitation Homes1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q4
Can you just give some more color around how their team will assist in the process as you're growing out the build-to-rent platform
Show response
Scott explained ResiBuilt historically built for one institutional GP partner and also does third-party fee building. Will continue fee-based work and explore opportunities for JV partners and eventually INVH balance sheet when cost of capital improves.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| O Realty Income | 8 | 0%none of 8 questions |
| INVH Invitation Homes | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | No questions recorded | — | — |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | No questions recorded | — | — |
| 2025 Q4 | 3 | 0%none of 3 questions | 2 |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
| 2026 Q2 | 1 | 0%none of 1 question | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q1No questions recorded
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q3No questions recorded
- 2025 Q43 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand4
- Capital Allocation3
- Credit3
- Capex Investment2
- Innovation & R&D1
- Guidance Reliability1
- Pricing1