SQFTP - REIT Earnings Recap: Mega-Mergers And Roaring Rents

August, 06 2021 10:00 AM Presidio Property Trust Inc. 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock $0.01 par value per share

REIT earnings season has provided critical information on the state of the real estate industry - a much-needed check-in amid fears of a potential "fourth wave" of the COVID pandemic.
Results were significantly better-than-expected with roughly 95% of equity REITs beating consensus FFO estimates while more than 75% of the REITs that provide forward guidance boosted their full-year outlook.
More remarkable was the unprecedented magnitude of these upward revisions. More than a dozen REITs boosted their full-year FFO growth outlook by more than 1,000 basis points from last quarter.
Continuing a dramatic rebound, self-storage REITs led the charge in Q2 while residential REITs reported surging rents across the nation. Shopping center REITs reported their most impressive quarter in a decade.
Too Soon To Declare Victory? Just when mall, office, and hotel REITs were seeing daylight, amplified COVID restrictions threaten another dark winter, prompting a rotation back into "essential" property sectors.

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Company Name:	Presidio Property Trust Inc. 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock $0.01 par value per share
Stock Symbol:	SQFTP
Market:	NASDAQ
Website:	presidiopt.com