SWDR 最新10-Q变化
将 SWDR 最新的定期申报(10-K/10-Q)与上一份同类型申报逐章节对比:每个章节新增/删除的段落数与原文摘录。全部为确定性文本对比——无相似度评分、无方向判断、非投资建议。
对比:10-Q · 2026-05-11 与上一份 10-Q · 2025-11-12
| 章节 | 结果 | 新增 | 删除 | 微调 | 未变 |
|---|---|---|---|---|---|
| 管理层讨论与分析 | 文字有新增/删除 | +41 | −42 | ~46 | 51 |
| 市场风险(第3项) | 文字有新增/删除 | +1 | 0 | ~5 | 3 |
| 控制与程序 | 无段落级文字变化 | 0 | 0 | 0 | 2 |
| 法律诉讼 | 文字有新增/删除 | 0 | 0 | ~1 | 0 |
| 风险因素 | 部分风险因素更新 | +9 | 0 | ~1 | 0 |
| 其他信息 | 文字有新增/删除 | +2 | −6 | 0 | 0 |
计数单位为段落;"新增/删除"指相对上一份文件新增/删除的文字,不含方向或好坏判断。
代表性摘录
每个章节最多 5 条、每条约 300 字符的原文摘录,直接来自两份 SEC 文件。
管理层讨论与分析
相对上期新增的文字 · 来源:10-Q · 2026-05-11
On February 4, 2026, our third public offering terminated, and we commenced our fourth public offering of up to $10.0 billion in shares of common stock, consisting of up to $9.5 billion in shares in our primary offering and up to $0.5 billion in shares pursuant to our distribution reinvestment plan.…
We own a diversified, hard-to-replicate portfolio of 598 income-producing properties valued at approximately $22.4 billion with an approximate 94% occupancy as of March 31, 2026. The portfolio is concentrated in the fastest-growing regions of the country, with approximately 71% of our value allocate…
The Company is among the largest owners of multifamily apartments in the United States, with more than 63,000 apartment units, including approximately 40,000 market-rate and 23,500 affordable housing units. Our portfolio is concentrated in the Sunbelt markets, including Texas and Florida, two states…
Furthermore, approximately 75% of our multifamily assets are located in the eight states projected to add over one million young adults over the next five years, while the remaining 42 states are projected to lose nearly 900,000 young adults. At our NAV, approximate basis per unit in the market-rate…
While rents of market-rate apartments have been relatively stagnant over the past few years due to the new supply, that is now rapidly diminishing (approximately 60-70% in some of our markets), occupancy has remained strong, underscoring healthy demand in our markets. Affordability for our tenants h…
相对上期删除的文字 · 来源:10-Q · 2025-11-12
On August 10, 2022, the follow-on public offering terminated and we commenced our third public offering of up to $18.0 billion in shares of common stock, consisting of up to $16.0 billion in shares in our primary offering and up to $2.0 billion in shares pursuant to our distribution reinvestment pla…
Amid today’s economic uncertainty and stock market volatility, real estate offers tangible, income-generating assets with low correlation to public market fluctuations, making it an effective portfolio diversifier. The tariff events are likely to cause construction costs to increase, which makes own…
We continue to prioritize generating liquidity for stockholders submitting share repurchase requests, while also staying focused on protecting and maximizing value for our stockholders who remain fully invested. This requires picking the right spots to generate liquidity as the markets continue to i…
Please refer to Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and elsewhere in this Quarterly Report on Form 10-Q for additional disclosure relating to material trends or uncertainties that may impact our business.
Declared monthly net distributions totaling $121.0 million for the three months ended September 30, 2025. The details of the average annualized distribution rates and total returns are shown in the following table:
市场风险(第3项)
相对上期新增的文字 · 来源:10-Q · 2026-05-11
investment in real estate debt is not known, but a 10% change in the fair value of our investment in real estate debt may result in an unrealized gain or loss of $94.0 million.
风险因素
相对上期新增的文字 · 来源:10-Q · 2026-05-11
There is no public trading market for shares of our common stock; therefore, your ability to dispose of your shares will likely be limited to repurchase by us. If you do sell your shares to us, you may receive less than the price you paid.
There is no current public trading market for shares of our common stock, and we do not expect that such a market will ever develop. Therefore, repurchase of shares by us will likely be the only way for you to dispose of your shares. We repurchase shares at a price equal to the transaction price of …
Your ability to have your shares repurchased through our share repurchase plan is limited to repurchases resulting from death or qualifying disability and for accounts having a balance below $5,000. We may choose to repurchase fewer shares than have been requested to be repurchased or no shares in o…
Effective April 29, 2026, we amended our share repurchase plan such that (i) repurchase requests made upon the death or qualifying disability of a stockholder who is a natural person will be repurchased in full to the extent there are available funds up to a limit of $5 million per month; and (ii) r…
In any particular month, we may choose to repurchase fewer shares than have been requested to be repurchased under our share repurchase plan, or none at all, in our discretion at any time. We may repurchase fewer shares than have been requested to be repurchased due to lack of readily available fund…
其他信息
相对上期新增的文字 · 来源:10-Q · 2026-05-11
None of our directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the quarter ended March 31, 2026.
Effective May 8, 2026, our board of directors adopted the Amended and Restated Independent Director Restricted Share Plan to increase the aggregate number of shares reserved and available for issuance pursuant to awards granted thereunder to 400,000.
相对上期删除的文字 · 来源:10-Q · 2025-11-12
On November 11, 2025, we, the Operating Partnership and our Advisor entered into that certain Second Amended and Restated Advisory Agreement (the “Advisory Agreement”). The Advisory Agreement amends and restates the prior version of the agreement to, among other things, make certain updates requeste…
On November 11, 2025, our board of directors appointed Nora Creedon, our Chief Executive Officer and President, to serve as a member of our board of directors.
The appointment of Ms. Creedon was not made pursuant to any arrangement or understanding between her and any other person. Updated biographical information with respect to Ms. Creedon is set forth below:
Nora Creedon, age 47, has served as our Chief Executive Officer and President since July 2025 and as a member of our board of directors since November 2025. Prior to her appointment as our Chief Executive Officer and President, Ms. Creedon was a Managing Director at Goldman Sachs in the private real…
executive officer and President of Goldman Sachs Real Estate Income Trust, Inc. (“GS REIT”), a public, non-listed equity REIT. She also oversaw the real estate investments of the Exchange Fund series, which included approximately $4 billion of core real estate. Ms. Creedon served on the Global Real …
如何读 10-Q 的风险因素(第 1A 项)
10-Q 的风险因素章节有三种常见形态,本页按其一分类展示:
- 指向(pointer) — 公司仅声明"无重大变化"并指向年度 10-K 的完整风险因素;本季没有自己的风险文本可对比。
- 部分更新(partial) — 公司写明"除下述外无重大变化",只更新部分风险;摘录展示的正是本季新增的内容。
- 全文重述(restated) — 本季重新给出完整风险因素。若上一季只是"指向",则无法逐段对比,本页会将其标为"本季全文重述"。
这只是对文件结构的客观描述,不构成对风险高低的判断。
数据来自 SEC EDGAR 两份申报文件的文本级对比 · 确定性计算(无 AI 生成内容)· 仅供参考 · 非投资建议