REITs To Watch For Q4 Earnings On Feb 4: AVB, ARE, AIV & KRC
Zacks Investment Research | Jan 31, 2019 08:55PM ET
A number of Q4 earnings releases are queued for the next week, of which office REITs Kilroy Realty Corporation (NYSE:KRC) and Alexandria Real Estate Equities (NYSE:ARE) , along with residential REITs AvalonBay Communities, Inc. (NYSE:AVB) and Apartment Investment & Management Co. (NYSE:AIV) , are slated to report their quarterly numbers on Feb 4.
Economic improvement and recovery in the job market have spurred demand for various real estate categories. The U.S. office real estate market has been gathering steam on the back of a healthy economy and has witnessed growth in demand for office spaces. This has enabled office landlords to enjoy higher capability to raise rents for properties.
Per a study by the commercial real estate services firm — CBRE Group (NYSE:CBRE) — the fourth-quarter office vacancy rate declined to its lowest level in 11 years, by 10 basis points (bps) to 12.6%. Furthermore, job growth boosted annual net absorption to 58.3 million square feet of space — the highest since 2015.
Also, the U.S. apartment market witnessed an encouraging fourth quarter in 2018, with accelerated rent growth and elevated occupancy level amid robust demand for rental units. Per a Zacks Investment Research
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