Earnings Scorecard: All S&P 500 real estate companies meet earnings estimates

[Real estate agent giving the keys of a new house to a woman]
ToucanStudios

This week, all six S&P 500 real estate companies (XLRE [https://seekingalpha.com/symbol/XLRE]) that reported their quarterly earnings met consensus estimates.

All six exceeded their revenue consensus.

During the third quarter, XLRE added 1.03%, while the SPDR S&P 500 ETF ("SPY") was up 7.91%.

Earnings recap

At the industry level, one hotel and resort REIT, one multi-family residential REIT, one specialized REIT, two retail REITs, and one telecom tower REIT reported their quarterly results this week.

Below are the latest reports from the six companies:

Realty Income's (O [https://seekingalpha.com/symbol/O]) Q3 earnings met [https://seekingalpha.com/news/4513525-realty-income-slightly-raises-full-year-guidance-after-in-line-q3-earnings] the Wall Street consensus as occupancy rates remained solid, rent recapture was 103.5% on re-leased properties, and the company continued to invest in both international markets and the U.S.

Simon Property Group (SPG [https://seekingalpha.com/symbol/SPG]) upwardly revised [https://seekingalpha.com/news/4513599-simon-property-group-raises-ffo-guidance-after-healthy-demand-fuels-q3-beat] its full-year guidance for funds from operations after delivering better-than-expected numbers for Q3.

Iron Mountain (IRM [https://seekingalpha.com/symbol/IRM]) delivered [https://seekingalpha.com/news/4515620-iron-mountain-q3-earnings-beat-revenue-in-line-as-adjusted-ebitda-affo-reach-records] Q3 results that beat on FFO per share and adjusted EBITDA, while quarterly revenue matched the consensus estimate. Costs remained controlled, while total revenue climbed 13% from a year ago.

Host Hotels & Resorts (HST [https://seekingalpha.com/symbol/HST]) reported [https://seekingalpha.com/news/4516484-host-hotels-and-resorts-ffo-of-0_35-beats-by-0_02-revenue-of-1_33b-beats-by-20m] Q3 FFO of $0.35, which beats by $0.02, and revenue of $1.33B (+0.8% Y/Y), which beats by $20M.

Camden Property Trust (CPT [https://seekingalpha.com/symbol/CPT]) reported [https://seekingalpha.com/news/4517828-camden-property-trust-ffo-of-167-in-line-property-revenues-of-39568m] Q3 FFO of $1.67, in-line with consensus, and property revenue of $395.68M (+2.2% Y/Y).

SBA Communications (SBAC [https://seekingalpha.com/symbol/SBAC]) posted [https://seekingalpha.com/news/4513555-sba-communications-ffo-of-3_30-beats-by-0_16-revenue-of-732_33m-beats-by-17_06m] Q3 FFO of $3.30, which beats by $0.16, and revenue of $732.33M (+9.7% Y/Y), which beats by $17.06M.

Quarter-to-date, 31 out of the 433 S&P 500 companies that reported earnings are from the real estate sector.

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