- REIT earnings season has kicked into high gear this week with reports from more than two dozen equity and mortgage REITs. Results have continued their positive trend with a 75% beat rate.
- We got our first look at retail REIT earnings over the last several days which showed that fundamentals fully stabilized by late 2021 while several REITs were back above pre-pandemic NOI levels.
- Simon Property reported a mixed quarter as the mall REIT reported a full recovery in FFO but provided a muted growth outlook for 2022 and removed leasing metrics from their report.
- Results from shopping center REITs, however, have been far stronger as fundamentals are suddenly as healthy as they've been since the mid-2010s as big-box retailers have thrived in the pandemic era.
For further details see:
Retail REIT Earnings: First Look