Welcome to our dedicated page for Comstock Hldg Cos news (Ticker: CHCI), a resource for investors and traders seeking the latest updates and insights on Comstock Hldg Cos stock.
Comstock Holding Cos Inc (CHCI) delivers innovative real estate solutions through residential development and strategic advisory services. This news hub provides investors and stakeholders with essential updates about the company's operations in the Washington, D.C. metro area and beyond.
Access authoritative information on CHCI's latest developments, including transit-oriented projects, public-private partnerships, and mixed-use community initiatives. Our curated news collection features official earnings announcements, leadership updates, and strategic collaborations that shape urban landscapes.
Key updates include residential construction milestones, asset management developments, and capital markets advisory activities. Stay informed about CHCI's progress in creating sustainable communities through integrated homebuilding and property management services.
Bookmark this page for streamlined access to verified CHCI news. Check regularly for updates on construction projects, financial disclosures, and operational advancements that demonstrate the company's commitment to transformative real estate solutions.
Comstock Holdings Companies reported impressive financial results for Q4 and FY 2022, showcasing a 20% increase in revenue to $9.3 million and 26% growth for the year at $39.3 million. Operating income surged 61% in Q4 to $1.6 million, while FY operating income rose 57% to $8 million. Net income increased 39% in Q4 to $1.3 million, but FY 2022 net income was $7.7 million, down from $16 million in 2021 due to a prior-year tax benefit. Adjusted EBITDA jumped 58% in Q4 to $1.9 million and 55% YTD to $9 million. The company emphasized strong performance amid economic uncertainty, enhanced by debt elimination and a growing managed portfolio.
Comstock Holding Companies (NASDAQ: CHCI) announced the 3rd annual Run The Greenway to be held on May 6, 2023, at Loudoun Station, Virginia. This event features 5K, 10K, and Kids Fun races, with virtual participation options available. In 2022, over 1,700 runners raised more than $220,000 for local charities. The race aims to enhance accessibility for participants via the Silver Line Metro. Comstock's engagement in such community initiatives underscores its commitment to supporting local non-profits aligned with its values.
Comstock Holding Companies (NASDAQ: CHCI) has secured two significant 10-year leases totaling approximately 75,000 square feet in the Commerce District of Reston Station. CACI International is set to occupy a new 41,000 square foot space, while the Applied Research Laboratory at Penn State will relocate to 34,560 square feet. This move aligns with Comstock's strategy to introduce 1.3 million square feet of new office space to Reston and transform the area into a mixed-use, transit-oriented development. Comstock's COO expressed excitement over the expansion of CACI and ARL within the district.
Comstock Holding Companies, Inc. (NASDAQ: CHCI) has appointed Thomas J. Holly to its Board of Directors, with his term set to last until the 2025 Annual Meeting of Stockholders. Holly, a retired partner from Pricewaterhouse Coopers, brings over 30 years of experience in public accounting, particularly in real estate and asset management. His expertise in capital markets and commercial real estate financing is expected to benefit Comstock’s strategic growth. Chris Clemente, CEO, expressed enthusiasm about Holly's appointment, highlighting the value of his extensive background in relevant sectors.
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