REIT Earnings Halftime Report
- We're at the halfway point of another consequential real estate earnings season, with 77 of the 150 equity REITs and 20 of the 38 mortgage REITs now having reported results.
- Beneath the interest rate-related volatility, real estate earnings season is off to a solid start. Of the 65 equity REITs that provided full-year FFO guidance, 65% have raised their outlook.
- Notable upside standouts relative to expectations include Strip Center and Senior Housing REITs - both of which continued to deliver record-setting results with impressive rent growth and occupancy trends.
- Results from residential REITs have also been moderately disappointing, showing further downward pressure in rent growth in early Autumn. In this report, we assign Halftime Grades to each property sector and highlight some quick incremental positives and negatives we've observed across each of the major property sectors.
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REIT Earnings Halftime Report
We're at the halfway point of another consequential real estate earnings season, with 77 of the roughly 150 equity REITs and 20 of the 38 mortgage REITs representing 50% of the total
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