IVT - REIT Earnings Preview: Inflation And Dividend Hikes In Focus
- Real estate earnings season kicks off this week. We'll see results from more than 175 equity REITs, 40 mortgage REITs, and dozens of housing industry companies over the next month.
- REITs enter third-quarter earnings season as the second-best-performing asset class this year with total returns of nearly 30%, trailing only commodities which have similar inflation-hedging characteristics.
- Residential REITs and specialty REIT sectors - billboard, cannabis, and timber REITs - delivered the strongest returns over the last quarter. Large-cap technology REITs have uncharacteristically lagged.
- It'll be hard to top the record-pace of "beat and raise" reports in Q2 in which 95% of equity REITs topped consensus FFO estimates and 75% of the REITs that provide forward guidance boosted their full-year outlook.
- 110 REITs have already hiked their dividends this year. We discuss the themes and metrics we'll be watching across all of the major real estate property sectors this earnings season.
For further details see:
REIT Earnings Preview: Inflation And Dividend Hikes In Focus