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REITs'Q3 Earnings to Watch on Oct 31: GGP, VNO, ARE & More
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We are now at the end of one of the busiest weeks in the current reporting cycle. This week has been full of activity for the real estate investment trusts (REITs) as well.
Several big shots including Avalonbay Communities Inc. (AVB - Free Report) , Boston Properties Inc. (BXP - Free Report) , Simon Property Group Inc. (SPG - Free Report) and Kimco Realty Corporation (KIM - Free Report) have come up with their earnings releases this week and now we have another chunk of REITs that are slated to report their results on Monday, Oct 31. Among them are General Growth Properties, Inc , Vornado Realty Trust (VNO - Free Report) , Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Omega Healthcare Investors Inc. (OHI - Free Report) and CyrusOne Inc. .
REITs broadly benefit from the low-rate environment for their high debt-dependence nature. Hence, the Federal Reserve’s decision to keep the rate hike on hold in September’s meeting comes as a boon. But with REITs catering to different asset classes, individual market dynamics of the underlying asset category play a pivotal role in defining their performance.
Now let’s take a look at what’s in store for these REITs which are slated to report their third-quarter 2016 results on Monday.
For doing this, we rely on the Zacks methodology, combining a favorable Zacks Rank – Zacks Rank #1 (Strong Buy) or 2 (Buy) or 3 (Hold) – and a positive Earnings ESP, to predict the chances of a beat this quarter. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Per our proprietary methodology, Earnings ESP shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Research shows that with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70% for the stocks.
Headquartered in Chicago, IL, General Growth Properties is exclusively engaged in owning, managing, leasing, and redeveloping high-quality retail properties across the U.S. The company’s portfolio includes mainly Class A malls and urban retail properties. Our model does not conclusively predict that the company will record a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #3. (Read more: General Growth's Q3 Earnings: What's in the Cards?)
NY-based Vornado is the owner and manager of commercial real estate in the U.S., with a portfolio that is mainly located in the New York City and Washington D.C. areas. Our model does not conclusively predict that the company will record a positive surprise as it has an Earnings ESP of - 0.78% and a Zacks Rank #3. (Read more: Vornado Q3 Earnings: What's in Store for the Stock?)
Pasadena, CA-based Alexandria Real Estate is a healthcare REIT which is mainly engaged in the ownership, operation, management, selective redevelopment, development and acquisition of life science properties. Currently, a surprise prediction is difficult as the company has an Earnings ESP of -0.73% and carries a Zacks Rank#2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Omega Healthcare Investors is a Hunt Valley, MD-based REIT which invests in income producing health care facilities. Our model does not conclusively predict that the company will record a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #2.
Carrollton, TX-based CyrusOne is engaged in providing enterprise data centre colocation, engineering facilities. Currently, company has an Earnings ESP of -1.59% and carries a Zacks Rank#5 (Strong Sell). Note that, we caution against stocks with Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
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REITs'Q3 Earnings to Watch on Oct 31: GGP, VNO, ARE & More
We are now at the end of one of the busiest weeks in the current reporting cycle. This week has been full of activity for the real estate investment trusts (REITs) as well.
Several big shots including Avalonbay Communities Inc. (AVB - Free Report) , Boston Properties Inc. (BXP - Free Report) , Simon Property Group Inc. (SPG - Free Report) and Kimco Realty Corporation (KIM - Free Report) have come up with their earnings releases this week and now we have another chunk of REITs that are slated to report their results on Monday, Oct 31. Among them are General Growth Properties, Inc , Vornado Realty Trust (VNO - Free Report) , Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Omega Healthcare Investors Inc. (OHI - Free Report) and CyrusOne Inc. .
REITs broadly benefit from the low-rate environment for their high debt-dependence nature. Hence, the Federal Reserve’s decision to keep the rate hike on hold in September’s meeting comes as a boon. But with REITs catering to different asset classes, individual market dynamics of the underlying asset category play a pivotal role in defining their performance.
Now let’s take a look at what’s in store for these REITs which are slated to report their third-quarter 2016 results on Monday.
For doing this, we rely on the Zacks methodology, combining a favorable Zacks Rank – Zacks Rank #1 (Strong Buy) or 2 (Buy) or 3 (Hold) – and a positive Earnings ESP, to predict the chances of a beat this quarter. Please check our Earnings ESP Filter that enables you to find stocks that are expected to come out with earnings surprises.
Per our proprietary methodology, Earnings ESP shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate. Research shows that with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70% for the stocks.
Headquartered in Chicago, IL, General Growth Properties is exclusively engaged in owning, managing, leasing, and redeveloping high-quality retail properties across the U.S. The company’s portfolio includes mainly Class A malls and urban retail properties. Our model does not conclusively predict that the company will record a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #3. (Read more: General Growth's Q3 Earnings: What's in the Cards?)
GENL GRWTH PPTY Price and EPS Surprise
GENL GRWTH PPTY Price and EPS Surprise | GENL GRWTH PPTY Quote
NY-based Vornado is the owner and manager of commercial real estate in the U.S., with a portfolio that is mainly located in the New York City and Washington D.C. areas. Our model does not conclusively predict that the company will record a positive surprise as it has an Earnings ESP of - 0.78% and a Zacks Rank #3. (Read more: Vornado Q3 Earnings: What's in Store for the Stock?)
VORNADO RLTY TR Price and EPS Surprise
VORNADO RLTY TR Price and EPS Surprise | VORNADO RLTY TR Quote
Pasadena, CA-based Alexandria Real Estate is a healthcare REIT which is mainly engaged in the ownership, operation, management, selective redevelopment, development and acquisition of life science properties. Currently, a surprise prediction is difficult as the company has an Earnings ESP of -0.73% and carries a Zacks Rank#2. You can see the complete list of today’s Zacks #1 Rank stocks here.
ALEXANDRIA REAL Price and EPS Surprise
ALEXANDRIA REAL Price and EPS Surprise | ALEXANDRIA REAL Quote
Omega Healthcare Investors is a Hunt Valley, MD-based REIT which invests in income producing health care facilities. Our model does not conclusively predict that the company will record a positive surprise as it has an Earnings ESP of 0.00% and a Zacks Rank #2.
OMEGA HLTHCARE Price and EPS Surprise
OMEGA HLTHCARE Price and EPS Surprise | OMEGA HLTHCARE Quote
Carrollton, TX-based CyrusOne is engaged in providing enterprise data centre colocation, engineering facilities. Currently, company has an Earnings ESP of -1.59% and carries a Zacks Rank#5 (Strong Sell). Note that, we caution against stocks with Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
CYRUSONE INC Price and EPS Surprise
CYRUSONE INC Price and EPS Surprise | CYRUSONE INC Quote
Confidential: Zacks' Best Investment Ideas
Would you like to see a hand-picked "all-star" selection of investment ideas from the man who heads up Zacks' trading and investing services? Steve Reitmeister knows when key trades are about to be triggered and which of our experts has the hottest hand. Click for his selected trades right now >>