REIT Stocks Q3 Earnings Queued Up For Oct 18: CCI, SLG & BDN
Zacks Investment Research | Oct 16, 2017 11:39PM ET
The Q3 earnings season has just begun and the real estate investment trust (REIT) space is already buzzing with activity. Notably, on Oct 18, Crown Castle International Corp. (NYSE:CCI) , SL Green Realty Corp. (NYSE:SLG) and Brandywine Realty Trust (NYSE:BDN) are scheduled to release their quarterly results.
Admittedly, the Federal Open Market Committee meeting has affected the price performance of REITs in the quarter. However, with the economy and the job market showing signs of recovery, a number of asset categories displayed strength in third-quarter 2017.
Per a recent Crown Castle International Corporation Quote
SL Green Realty Corp. (SLG) has been boosting its capacity to offer office space through an opportunistic investment policy. This bodes well for the company amid an improving economy and job-market environment. The Zacks Consensus Estimate for the third-quarter property net operating income (NOI) and net rental revenues are currently pegged at $183 million and $281 million, respectively, nearly in line with the previous quarter’s figures.
Nonetheless, the company has been long troubled on the retail front, with an increasing number of retailers jumping on the dot-com bandwagon. This will likely create pressure on SL Green’s top-line performance. Of late, many retailers have been filing for bankruptcy and opting for store closures, as mall traffic has been shrinking owing to soaring online purchases. Although the company is aggressively taking initiatives to lure consumers, it may take a while for these efforts to reflect in its operating results. (Read more: Zacks Investment Research
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