The following table reconciles our FFO, Core FFO and AFFO guidance to our net loss (the most directly comparable GAAP financial measure) guidance for the year ended December 31, 2024 (in thousands, except per share data):
For the Year Ended December 31, 2024 | ||||
| Mid-Point | ||||
| Net loss | $ | (30,170) | ||
| Depreciation and amortization | 97,741 | |||
| Gain on sales of real estate | (50,395) | |||
| Adjustment for noncontrolling interests | (99) | |||
| FFO attributable to common stockholders | 17,077 | |||
| FFO per share - diluted (1) | $ | 0.65 | ||
| Loss on extinguishment of debt and modification costs | 52,973 | |||
| Casualty-related expenses | 802 | |||
| Amortization of deferred financing costs - acquisition term notes | 872 | |||
| Gain on forfeited deposits | — | |||
| Adjustment for noncontrolling interests | (207) | |||
| Core FFO attributable to common stockholders | 71,517 | |||
| Core FFO per share - diluted (1) | $ | 2.72 | ||
| Amortization of deferred financing costs - long term debt | 1,359 | |||
| Equity-based compensation expense | 10,601 | |||
| Adjustment for noncontrolling interests | (46) | |||
| AFFO attributable to common stockholders | 83,431 | |||
| AFFO per share - diluted (1) | $ | 3.18 | ||
| Weighted average common shares outstanding - diluted | 26,246 | |||
| (1) | For purposes of calculating per share data, we assume a weighted average diluted share count of approximately 26.2 million for the full year 2024. |
NOI
The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles NOI for the three months ended March 31, 2024 and the year ended December 31, 2023 to net income, the most directly comparable GAAP financial measure (in thousands):