REITs' Q1 Earnings To Watch On Apr 24: UDR, CCI & Others
Zacks Investment Research | Apr 21, 2017 08:52AM ET
The first-quarter 2017 earnings season for the real estate investment trusts (REITs) has already started. Important REITs which released their results are Prologis, Inc. (NYSE:PLD) and SL Green Realty Corp. (NYSE:SLG) . While Prologis came up with better-than-expected funds from operations (FFO) per share results, SL Green managed to post in-line results.
A few REITs representing different categories, which are set to release results on Apr 24, are UDR, Inc. (NYSE:UDR) , Crown Castle International Corp. (NYSE:CCI) , American Campus Communities, Inc. (NYSE:ACC) , Weingarten Realty Investors (NYSE:WRI) and Acadia Realty Trust (NYSE:AKR) .
Despite the interest rate concern, the performance of REIT stocks depends on the individual asset class to which they cater as well as the location of their assets. In recent times, supply issues have had some repercussions in some asset classes.
According to a What's in Store for UDR Inc. this Earnings Season? )
United Dominion Realty Trust, Inc. Price and EPS Surprise
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Austin, TX-based American Campus Communities is primarily engaged in owning, developing and managing high-quality student housing communities. The company has an Earnings ESP of +1.61% and a Zacks Rank #3. According to our proven model, the company is likely to deliver a positive surprise this quarter.
Weingarten Realty is a Houston, TX-based retail REIT which is engaged in the ownership, management, acquisition, development and redevelopment of neighborhood and community shopping centers. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. Our model does not conclusively predict that the company will deliver a positive surprise.
Rye, NY-based Acadia Realty primarily focuses on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. The company has an Earnings ESP of -2.70% and a Zacks Rank #4 (Sell). We caution against stocks with a Zacks Rank #4 or 5 (Strong sell) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
Acadia Realty Trust Price and EPS Surprise
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