Estimates indicate specialty and industrial real estate investment trusts will report the greatest growth in funds from operations per share for the third quarter, according to S&P Global Market Intelligence data.
The specialty sector — consisting of advertising, casino, communications, data center, energy infrastructure, land, prison, timber and other REITs — is expected to report quarter-over-quarter FFO-per-share growth of 3.6%, and a 6.2% increase year over year, on a median basis. The industrial sector follows closely, with projected FFO-per-share growth of 2.3% on a quarterly basis and 6.0% year over year.
Prologis Inc. was the first REIT to release its earnings, on Oct. 16. The industrial REIT reported core FFO for the quarter of 72 cents per share, a 7.5% increase year over year.
Consensus estimates for the shopping center sector point to a 3.8% annualized drop in FFO per share, the largest decline of any property type.
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