COMP - U.S. real estate stocks weather the Russia-Ukraine turmoil
Real estate, often a defensive sector, is among the stocks falling the least in Thursday trading, as investors shift toward safer bets amid the uncertainty surrounding Russia's military action in the Ukraine. Also helping, two real estate companies reported better-than-expected Q4 results since Wednesday's market close. Real Estate Select Sector SPDR ETF (NYSEARCA:XLRE) is down only 0.6% in midday trading in New York on Thursday. Offerpad Solutions (NYSE:OPAD) stock is gaining 15% after its Q4 GAPP EPS of $0.05 beat the consensus of -$0.10. The company buys homes, renovates, then sells them. During the company's earnings call, CFO Mike Burnett said the company expects to sell 3.00K-3.15K homes in Q1 2022, resulting in revenue of $1.1B-$1.15B. That compares with the consensus estimate of $836.3M. eXp World (NASDAQ:EXPI), which provides cloud-based real estate brokerage services, is rising 10% after its Q4 GAAP EPS of $0.10 exceeded the average analyst estimate of $0.07 and revenue of $1.08B
For further details see:
U.S. real estate stocks weather the Russia-Ukraine turmoil