More From Jennifer Mathews
How Equity Residential Improved Its Balance Sheet in 2Q17
During 2Q17, Equity Residential (EQR) reported higher-than-expected top-line and bottom-line results backed by robust rent growth and occupancy levels.
GGP and Other Retail REITs Struggle to Exist in Digital Era
During 1Q17, General Growth Properties’ (GGP) occupancy rate (same-store leased percentage) fell to 95.9% from 96.6% in 1Q16.
How Does GGP Manage Its Balance Sheet?
GGP reached a debt-to-equity ratio 2.2x in 2014, its highest in the last five years.
Understanding Equity Residential’s Business Segments
In 1Q17, Southern California comprised 25% of Equity Residential’s (EQR) total revenues, 19% of its total revenues came from Washington, D.C., and New York comprised 21% of its total revenues.
How GGP Managed Its Expenses in 2Q17
In 2Q17, GGP (GGP) reported NOI (net operating income) of $551.0 million, which came in higher than the previous year at $554.0 million.
How Prologis Boosted Top-Line Growth in 2Q17
Prologis’s (PLD) upbeat top-line and bottom-line results in 2Q17 were driven by higher-than-expected rent growth and net operating income.
Understanding Weyerhaeuser’s Divestiture Policy
Weyerhaeuser (WY) has undertaken several divestiture policies in order to dispose of its underperforming and non-core businesses.
How Weyerhaeuser Fared in 2Q17: The Details
The growing economy has helped REITs including Weyerhaeuser (WY), Rayonier (RYN), Resolute Forests Products (RFP), and International Paper (IP) reap higher profits.
How Prologis Has Managed to Remain Afloat amid Online Hype
Prologis is expected to ride high on its growth trajectory. For 2017, it raised its adjusted FFO (funds from operation) projection by $0.10 per share.
Innovation and Foreign Investment Drive Welltower’s Growth
Welltower (HCN) has successfully set itself on a growth trajectory backed by strategic initiatives, aiding its steady top line growth.
How Rising Interest Rates Could Affect Equity Residential
The Fed indicated that it could implement two more rate hikes in 2017. The market speculates one of the rate hikes could occur in June, and the other one is expected to occur around December 2017.
Why Equity Residential’s Top Line Soared in 2Q17
Equity Residential’s (EQR) top line in 2Q17 surpassed both the year-ago results as well as management’s expectations backed by rent growth.
How Weyerhaeuser Compares with Peers
The expected performance of timberland REIT Weyerhaeuser (WY) for the rest 2017 and in 2018 can be best understood by its valuation multiples.
How Weyerhaeuser Treats Its Shareholders
REITs (real estate investment trusts) usually provide generous returns to their shareholders in the form of dividends or share buybacks.
Is Weyerhaeuser Maintaining a Strong Balance Sheet?
REITs (real estate investment trusts) depend mostly on debt for their day-to-day functioning and working capital.
How Weyerhaeuser and REITs Can Fight the Interest Headwind
After thriving for a long time in a low interest rate environment, REITs (real estate investment trusts) are now facing a high interest rate.
How the Rising Interest Rate Affects REITs like Weyerhaeuser
REITs (real estate investment trusts) depend on debt and equity for their working capital, and so they’re directly impacted by the Fed’s interest rate policy.
Inside the Weyerhaeuser-Plum Creek Merger
Timberland REIT (real estate investment trust) Weyerhaeuser (WY) owns almost 13.1 million acres of timberlands across the US.
What Lies ahead for Weyerhaeuser in 2017?
Timberland REIT (real estate investment trust) Weyerhaeuser (WY) expects to continue its growth trajectory for the rest of 2017.
What Strong Wood Means for Weyerhaeuser’s Momentum
Timberland REIT (real estate investment trust) Weyerhaeuser (WY) has been able to use the opportunities of the booming housing sector to its advantage.
Behind Weyerhaeuser’s Growth Trajectory
Timberland REIT (real estate investment trust) Weyerhaeuser (WY) reported upbeat earnings results for 2Q17, backed by higher sales and prudent cost management.
How Weyerhaeuser and Timberland REITs Came through the Fire
Timberland REITs (real estate investment trusts) in the US don’t seem to be in doubt about their continued growth momentum in the near future.
How Do Wall Street Analysts Rate Boston Properties?
In this article, we’ll look into the rating analysts have given Boston Properties and also compare these ratings with those of the company’s close peers.
How Does Boston Properties Compare to Peers?
Boston Properties’ (BXP) valuation multiple can help us understand its expected performance for the rest of the year.
How Boston Properties Returns Value to Shareholders
In order to qualify as REITs (real estate investment trusts), companies usually have to pay 90% of their profits (excluding capital gains) as dividends.
What’s Boston Properties’ Balance Sheet Position?
REITs depend on equity and debt for their working capital.
How Boston Property Is Flourishing despite Rising Interest Rates
Although it is a common belief that high interest rates are usually bad for REITs like Boston Properties (BXP), Simon Property (SPG), Prologis (PLD), and Vornado Realty Trust (VNO), we find that REITs have continued in their growth trajectory in the past few months.
Can Boston Properties Flourish amid Higher Interest Rates?
REITs have flourished for a considerable period in a record-low-interest-rate environment because they depend on debt and equity for their working capital.
Boston Properties Maintained Profitability with Development Projects
BXP leased properties with a total area of 926,000 square feet in 2Q17.
Boston Properties Could Ride High on These Factors
Boston Property (BXP) has strong business momentum and has been maintaining a decent growth trajectory for the past few years.
What Lies Ahead for Boston Properties in 2017?
Boston Properties raised its EPS (earnings per share) outlook for 2017 to a range of $2.72 to $2.77 per share.
How Did Boston Properties Fare in 1H17?
The growing economy has acted as a boon to REITs, and with the help of their strategic initiatives, these REITs have been able to take advantage of the opportunity and report higher revenue and profits.
Why Boston Properties Could Be Strong Enough to Combat Headwinds
Boston Properties’ recent upbeat results came on the back of higher leasing activity as well as strong occupancy levels, which led to revenue growth.
How Wall Street Analysts Rated the Top 3 Self-Storage REITs after 2Q17
Extra Space Storage’s (EXR) analyst target price is $81.13, up 7% from its current price level.
Comparing the Valuations of 3 Leading Self-Storage REITs after 2Q17
Public Storage (PSA) trades at an EV-to-EBITDA multiple of ~21.5x.
Chart in Focus: Self-Storage REITs’ 2Q17 Balance Sheets
CubeSmart issued two notes of $50.0 million each, carrying interest of 4.4% and 4.0% and maturity dates of 2023 and 2025, respectively.
Overview of Self-Storage REITs’ Development Activities in 2Q17
During 1H17, CubeSmart acquired two properties located in Maryland and California worth $21.9 million.
How the Top 3 Self-Storage REITs Managed Their Expenses in 2Q17
Although Public Storage did not provide any guidance for net operating income expected during fiscal 2017, analysts expect the company to report flat YoY NOI of ~$2.0 billion during 2Q17.
Comparing the Top 3 Self-Storage REITs after 2Q17 Earnings
Self-storage REITs are experiencing solid growth in income and revenues in 2017. In this series, we’ll analyze the 2Q17 results for Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE).
What Industrial REITs Analysts Think after 2Q17
Prologis (PLD) has been assigned a target price of $62.75, which is 0.8% higher than its current price level.
How Did Industrial REITs Reward Shareholders in 2Q17?
Real estate investment trusts have to distribute ~90% of their profits to investors in order to qualify as an REIT.
How 3 Key Industrial REITs Managed Expenses in 2Q17
Industrial REITs (real estate investment trusts) fund their development and redevelopment properties through debt.
How Capital Deployment Strategies Helped Boost Industrial REIT Sales in 2Q17
Industrial REITs (real estate investment trusts) tend to carry on many development and redevelopment projects simultaneously in order to maintain leadership.
Industrial REITs and the Year Ahead
Industrial REITs (real estate investment trusts) appear to have a bright future backed by a growing economy and industrial growth.
Inside 3 Key Industrial REITs in 2Q17: Top- and Bottom-Line Results
Industrial REITs (real estate investment trusts) reported robust top-line and bottom-line results in 2Q17 backed by industrial growth,
Top 3 Industrial REITs: An Overview of the 2Q17 Results
Industrial REITs (real estate investment trusts) are currently experiencing a boom, and many investors and analysts anticipate future growth.
A Post-2Q17 Comparison of the Top 3 Healthcare REITs
Healthcare Trust of America (HTA) is the most premium among our top three healthcare REITs in terms of price-to-FFO multiple.
How Healthcare REITs Rewarded Stockholders in 2Q17
REITs are required to pay 90.0% of their profits to shareholders in the form of share buybacks or dividends.
Healthcare REITs and Their 2Q17 Capital Deployment Strategies
Welltower spent $292.0 million on development and expansion in 2Q17. Of that, $110.0 million was spent on acquisitions.
Healthcare REITs and How They Managed Expenses in 2Q17
Healthcare REITs fund their working capital through debt and equity. So it’s important to optimize their spending in order to maximize income.
What’s Ahead for the Top 3 Healthcare REITs?
Strong performance in skilled nursing facilities prompted Welltower management to increase its same-store net operating income guidance for fiscal 2017.
Top-Line and Bottom-Line Results for Healthcare REITs in 2Q17
Healthcare REITs have positioned their properties in premium locations where there’s high income growth.
Top 3 Healthcare REITs after 2Q17: A Comparative Analysis
Healthcare REITs that own senior care facilities, hospitals, and nursing homes are seeing growth. With the aging population rising, the need for critical healthcare facilities is also rising.
What Analysts Think about the Top 3 Wireless REITs after 2Q17
The wireless tower owners’ expected performance in fiscal 2017 is reflected in the analysts’ ratings for the companies.
How the Top 3 Wireless Tower REITs Performed in 2Q17
In this series, we’ll analyze the 2Q17 results of American Tower (AMT), SBAC Communications (SBAC), and Crown Castle International (CCI).
What Lies Ahead for AVB, ESS, and EQR?
The residential REIT sector is on the threshold of a transition period and the performance of these stocks depends a lot on the macroeconomic as well as industrial changes taking place currently.
Residential REITs Implemented These Capital Deployment Strategies
Residential REITs undertook various development and expansionary activities in order to maintain their leadership in the sector.
Commercial REITs Have Higher Debt-to-Equity Ratios
GGP’s (GGP) debt-to-equity was 1.55x for 2Q17, which was higher than the industrial mean of 1.07x. As of 2Q17, GGP had $2.0 billion of liquidity.
Development Activities of Commercial REITs in 2Q17
Simon Property Group (SPG) had 25 redevelopment expansion projects under construction as of 2Q17.
The Top Lines for REITs Simon Property, GGP, and Vornado
When we consider the top line performance of commercial REITs, we find that they have performed decently during the second quarter.
How AvalonBay Compares after 2Q17
Price-to-funds from operations multiple AvalonBay Communities’ (AVB) performance in 2Q17 can be best evaluated by looking at its price-to-FFO (funds from operations) multiple. The multiple, widely used for REITs, gives an idea of how much an investor pays for a particular stock per unit of its profit. The multiple, which has the same implications as the price-to-earnings […]
Financing Activities Leverage AvalonBay’s Balance Sheet in 2Q17
Performance in 2Q17 AvalonBay Communities (AVB) has undertaken several development, redevelopment, and expansion projects to maintain its share in the market. It invested $400 million in new developments during the quarter. REITs such as UDR (UDR), Essex Property Trust (ESS), and Equity Residential (EQR) fund these activities with the help of debt and equity. Therefore, […]
Income Rises in 2Q17, AvalonBay Expects Higher Expenses
Income generated in 2Q17 AvalonBay Communities (AVB) reported NOI (net operating income) of $367.1 million, compared with $339.6 million in 2Q16. The Northern California region reported the highest NOI of $64.6 million, followed by the New York metropolitan area, which reported NOI of $61.5 million. Development and redevelopment communities reported NOI growth of $40.1 million, […]
How GGP Stacks Up against Its Peers after 2Q17
GGP’s estimated price-to-FFO multiple for fiscal 2018 is 14.2x, which is at a premium compared to its peers.
How Geography Affected AvalonBay’s 2Q17 Results
Wide geographical diversity AvalonBay Communities (AVB) has its assets well placed in high-demand Class A cities. These cities have soaring job growth, a high barrier to entry for competitors, and proximity to premium infrastructure. REIT peers UDR (UDR), Equity Residential (EQR), and Essex Property Trust (ESS) are repositioning their properties to Class A cities and […]
GGP’s Generous Return to Stockholders in 2Q17
In 2Q17, GGP (GGP) paid $17.5 million in dividends to its shareholders. That was higher than $13.3 million paid a year ago.
AvalonBay Maintains Profit with Strategic Capital Deployment
Demographic shift American demographics are shifting towards Class A cities with high-income growth and demand for residential apartments. These cities offer job prospects and proximity to offices, schools, and other necessities for premium social living. Although these cities also have high barriers to entry, more residential apartment owners are repositioning their properties in these areas. […]
GGP Has High Debt-to-Equity Ratio as of 2Q17: Can It Be Lowered?
GGP maintained a debt-to-equity ratio of 1.55x for 2Q17. That was higher than the industrial mean of 1.07x.
AvalonBay Revenue Climbs in 2Q17, Backed by Rent Growth
Robust 2Q17 driven by rent growth AvalonBay Communities’ (AVB) total revenue of $530.5 million marginally surpassed Wall Street estimates by 0.3%. However, revenue rose by almost 6% from the year prior. Upbeat top-line growth reflected growth in development communities and stabilized operating communities. Same-store revenue rose 2.5% year-over-year. Including revenue from redeveloped communities, same-store revenue […]
GGP Grew in 2Q17 Due to Development and Redevelopment
GGP has redeveloped its vacant spaces for non-retail uses such as restaurants, entertainment zones, fitness centers, and grocery stores.
What Lies Ahead for AvalonBay
Robust 2Q17 results AvalonBay Communities’ (AVB) top and bottom lines exceeded expectations, backed by higher net operating income growth of 8.1%. Factors affecting profit during 2Q17 Higher occupancy and rent growth in development communities and stabilized operating communities led to upbeat results during the quarter. Higher funds from operations expected for 3Q17 AvalonBay expects […]
What Caused GGP’s Soft Rent Growth in 2Q17?
GGP’s (GGP) minimum rent fell by $17.0 million in 2Q17, mainly because of dilution resulting from the sale of an interest in the Fashion Show Mall in Las Vegas n 2016.
Where AvalonBay Stands after Its 2Q17 Earnings Release
AvalonBay Communities (AVB) reported core FFO (funds from operations) of $2.09 per share, in line with Wall Street estimates.
GGP’s Revenue Rode High in 2Q17, Backed by New Leases
GGP’s minimum rent fell 3.9% to $349.2 million, and tenant recoveries fell 4.6% to $161.9 million. Overage rent fell 25.0% to $3.3 million.
GGP’s 2Q17 Results from an Investor’s Perspective
GGP (GGP) reported funds from operations (or FFO) of $0.35 per share, which was in line with Wall Street estimates. Adjusted FFO remained flat year-over-year.
How Vornado Stacks Up against Peers
Vornado’s recent development and redevelopment activities have made investors optimistic about the stock.
Financing Helped Vornado Maintain Strong Balance Sheet in 2Q17
During 2Q17, Vornado Realty Trust (VNO) reported higher year-over-year top-line and bottom-line results backed by growth in rent and occupancy level.
Did Vornado’s Cost Reduction Efforts Bear Fruit in 2Q17?
Vornado Realty Trust reported adjusted FFO (funds from operation) of $1.35 per share, which beat Wall Street estimates of $1.20 per share.
How Recent Disposition Activities Helped Vornado in 2Q17
Vornado Trust’s (VNO) top-line and bottom-line results improved year-over-year backed by higher rent growth and lower operational costs.
Welltower Compared to Other Industry Players after 2Q17
Welltower’s current price-to-FFO multiple is 17.34x. It had higher-than-expected results in 2Q17 and has an optimistic outlook for fiscal 2017.
Project Development Spurred Vornado’s Growth in 2Q17
Vornado Realty Trust (VNO) reported decent results in 2Q17. Its top line and bottom line surpassed results from 2Q16 backed by higher rent and new lease activities.
Where Does Vornado Stand after 2Q17 Earnings?
Vornado Realty Trust (VNO) reported core funds from operation (or FFO) of $1.35 per share in 2Q17, which surpassed Wall Street estimates of $1.20 per share.
How Vornado’s New York Office Segment Performed in 2Q17
Vornado Realty Trust (VNO) reported higher year-over-year top-line and bottom-line results during 2Q17 backed by higher rent growth, lower costs, and new leases during the quarter.
Vornado’s New Leases Drove Revenue in 2Q17
VNO posted rental revenue of $626 million in 2Q17, missing Wall Street’s estimates of $633.2 million.
American Tower’s Place among Peers after 2Q17
AMT’s current price-to-FFO multiple stands at ~22.1x. After 2Q17, American Tower offers a next-12-month dividend yield of 1.9%.
How Welltower Maintained a Strong Balance Sheet in 2Q17
Wellstone’s debt-to-equity ratio stood at 0.81x for 2Q17. That was lower than the industry mean of 1.07x.
How Welltower Rewarded Stockholders in 2Q17
On June 30, 2017, Welltower (HCN) announced a quarterly cash dividend of $0.87. The dividend is scheduled to be paid on August 21, 2017.
How Welltower Fared in Terms of Cost Control in 2Q17
Higher same-store NOI (net operating income) and a strong demand for premium senior housing facilities drove Welltower’s profits during the quarter.
The Story behind American Tower’s Strong Balance Sheet
In 2Q17, American Tower (AMT) topped its 2Q16 results on higher organic tenant billing and prudent cost controls.
How American Tower Rewarded Stockholders in 2Q17
In 2Q17, American Tower distributed cash worth $275 million among its common stockholders and paid preferred stock dividends totaling $27 million.
Can American Tower Maintain Consistent EBITDA Growth after 2Q17?
American Tower’s (AMT) 2Q17 EBITDA grew 17.5% to $1.02 billion. These results surpassed the analysts’ expectations of $1 billion.
American Tower’s 2Q17 Growth Rode on This
American Tower’s (AMT) total deployment consisted of $79 million for acquisitions and over $400 million for stock repurchases.
Behind American Tower’s Robust 2Q17 Revenue Growth
For 2Q17, American Tower (AMT) has reported robust double-digit revenue growth of 15.3%, backed primarily by higher tenant billing growth.
What Lies Ahead for American Tower
For fiscal 2017, American Tower expects to report property revenues that would be 14% higher on a year-over-year basis, or by $25 million.
Inside American Tower’s 2Q17 Results: What You Need to Know
For 2Q17, American Tower (AMT) reported adjusted funds from operation of $1.58 per share, meeting Wall Street estimates and topping 2Q16 by 18.8%.
How Wall Street Analysts Rate Vornado
Analysts assigned VNO a mean price target of $89.52, 13.8% higher than its current price level.
How Vornado Stacks Up against Other Industry Players
VNO’s current price-to-FFO multiple is 17.77x. The company has been able to return value to its shareholders consistently in the form of dividends and share repurchases.
Will Vornado Benefit from a Growing Economy in 2Q17?
Although Vornado Realty Trust (VNO) may witness lower margins during a higher interest rate environment, it may see significant growth in the near future.
How Macro Issues Could Affect Vornado in 2Q17
Wall Street expects Vornado Realty Trust (VNO) to post flat year-over-year top-line and bottom-line results in 2Q17.
How Analysts View Public Storage
Analysts have assigned PSA a mean price target of $217.67, which is 4.9% higher than its current price level.