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Retail REITs' Q3 Earnings to Watch on Nov 3: NNN, EPR & More
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Now we are in the third week of the third-quarter 2016 earnings releases of the real estate investment trust (“REIT”) sector. Last week saw a deluge of earnings results and this week is no exception. All categories of the REITs have reported their results.
Some retail REITs which are slated to report their third-quarter 2016 numbers on Nov 3 are National Retail Properties, Inc. (NNN - Free Report) , EPR Properties (EPR - Free Report) , STORE Capital Corporation and Cedar Realty Trust, Inc. .
Big companies in the retail REIT industry like Simon Property Group, Inc. (SPG - Free Report) and Kimco Realty Corporation (KIM - Free Report) have already announced their results. Simon Property reported a positive surprise of 0.75% benefitting from growth in operating income and transformative redevelopments. Kimco’s third-quarter adjusted funds from operations (“FFO”) per share came in at 38 cents. The Zacks Consensus Estimate was pegged at 17 cents.
According to a study by the CBRE Group Inc. , during the third quarter, average availability of retail space was 10.4%, down 20 basis points (bps) sequentially and down 50 bps year over year. In fact, per the study, over two thirds of the total 62 markets that were studied witnessed sequential fall in the availability of retail space in the third quarter. However, demand for retail space in the country continues to grow as new construction remains relatively muted and retailers are combining their online and bricks-and-mortar operations. This indicates a continuation of a gradual, five-year recovery in the U.S. retail-property market.
Now let’s take a look at what’s in store for these retail REITs which are slated to report tomorrow.
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.
National Retail Properties invests in single tenant net-leased retail properties throughout the United States. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. Though a favorable Zacks Rank increases the predictive power of ESP, the stock’s 0.00% ESP makes surprise prediction difficult.
Kansas City, MO-based EPR Properties invests primarily in Entertainment, Recreation and Education. The company has an Earnings ESP of -2.46% and a Zacks Rank #3. Our model does not conclusively predict that the company will record a positive surprise.
STORE Capital is a Scottsdale, AZ-based REIT which is engaged in the acquisition, investment and management of single-tenant properties. Our model does not conclusively predict that the company will record a positive surprise. This is because it has an Earnings ESP of 0.00% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Port Washington, NY-based Cedar Realty Trust is mainly engaged in owning, operating, developing and redeveloping bread and butter supermarket-anchored shopping centers. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. Though a favorable Zacks Rank increases the predictive power of ESP, the stock’s 0.00% ESP makes surprise prediction difficult.
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Retail REITs' Q3 Earnings to Watch on Nov 3: NNN, EPR & More
Now we are in the third week of the third-quarter 2016 earnings releases of the real estate investment trust (“REIT”) sector. Last week saw a deluge of earnings results and this week is no exception. All categories of the REITs have reported their results.
Some retail REITs which are slated to report their third-quarter 2016 numbers on Nov 3 are National Retail Properties, Inc. (NNN - Free Report) , EPR Properties (EPR - Free Report) , STORE Capital Corporation and Cedar Realty Trust, Inc. .
Big companies in the retail REIT industry like Simon Property Group, Inc. (SPG - Free Report) and Kimco Realty Corporation (KIM - Free Report) have already announced their results. Simon Property reported a positive surprise of 0.75% benefitting from growth in operating income and transformative redevelopments. Kimco’s third-quarter adjusted funds from operations (“FFO”) per share came in at 38 cents. The Zacks Consensus Estimate was pegged at 17 cents.
According to a study by the CBRE Group Inc. , during the third quarter, average availability of retail space was 10.4%, down 20 basis points (bps) sequentially and down 50 bps year over year. In fact, per the study, over two thirds of the total 62 markets that were studied witnessed sequential fall in the availability of retail space in the third quarter. However, demand for retail space in the country continues to grow as new construction remains relatively muted and retailers are combining their online and bricks-and-mortar operations. This indicates a continuation of a gradual, five-year recovery in the U.S. retail-property market.
Now let’s take a look at what’s in store for these retail REITs which are slated to report tomorrow.
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.
National Retail Properties invests in single tenant net-leased retail properties throughout the United States. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. Though a favorable Zacks Rank increases the predictive power of ESP, the stock’s 0.00% ESP makes surprise prediction difficult.
NATL RETAIL PPT Price and EPS Surprise
NATL RETAIL PPT Price and EPS Surprise | NATL RETAIL PPT Quote
Kansas City, MO-based EPR Properties invests primarily in Entertainment, Recreation and Education. The company has an Earnings ESP of -2.46% and a Zacks Rank #3. Our model does not conclusively predict that the company will record a positive surprise.
EPR PROPERTIES Price and EPS Surprise
EPR PROPERTIES Price and EPS Surprise | EPR PROPERTIES Quote
STORE Capital is a Scottsdale, AZ-based REIT which is engaged in the acquisition, investment and management of single-tenant properties. Our model does not conclusively predict that the company will record a positive surprise. This is because it has an Earnings ESP of 0.00% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
STORE CAPITAL Price and EPS Surprise
STORE CAPITAL Price and EPS Surprise | STORE CAPITAL Quote
Port Washington, NY-based Cedar Realty Trust is mainly engaged in owning, operating, developing and redeveloping bread and butter supermarket-anchored shopping centers. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. Though a favorable Zacks Rank increases the predictive power of ESP, the stock’s 0.00% ESP makes surprise prediction difficult.
CEDAR SHOPN CTR Price and EPS Surprise
CEDAR SHOPN CTR Price and EPS Surprise | CEDAR SHOPN CTR Quote
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>