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The Earnings Report

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Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

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Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

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Real Estate News & Analysis: May Edition


The Earnings Report

This roundup collects recently reported earnings and guidance from North American commercial real estate companies.

* Choice Hotels International Inc. said its net income for the second quarter amounted to US$1.40 per share, compared with the S&P Global Market Intelligence consensus EPS estimate of US$1.04 per share.

The per-share results rose 57.3% year over year from 89 cents. Net income totaled US$79.8 million, an increase of 57.5% from US$50.7 million in the prior-year period.

Adjusted net income rose 48.9% year over year to US$63.4 million, or US$1.11 per share, from US$42.6 million, or 75 cents per share.

In reporting results, the company said it expects EPS in the range of US$3.62 to US$3.68 for the full year.

The company expects adjusted EPS in the range of US$3.71 to US$3.77 for the full year.

For the full year, the S&P Global Market Intelligence consensus EPS estimate is US$3.73.

* Lamar Advertising Co. said its second-quarter funds from operations amounted to US$150.9 million, a gain of 7.1% from US$140.9 million in the prior-year period.

Adjusted FFO grew 10.2% on an annual basis to US$150.5 million, or US$1.52 per share, from US$136.5 million, or US$1.39 per share.

In reporting results, the company said it expects AFFO per share in the range of US$5.30 to US$5.40 for the full year.

* RMR Group Inc. said its net income attributable to the company for the fiscal third quarter was 52 cents per share, compared with the S&P Global Market Intelligence consensus EPS estimate of 50 cents, with three analysts reporting.

The per-share results climbed 20.9% year over year from 43 cents. Net income attributable to the company totaled US$8.4 million, a gain of 22.2% from US$6.9 million in the prior-year period.

* RioCan Real Estate Investment Trust said its second-quarter FFO amounted to 46 Canadian cents per share, compared with the S&P Global Market Intelligence consensus FFO estimate of 44 cents per share.

The per-share results increased year over year from 45 cents. FFO totaled C$145.3 million, down from C$146.6 million in the year-earlier period.

* MedEquities Realty Trust Inc. said its FFO attributable to common stockholders for the second quarter came to 23 cents per share.

The per-share results declined 11.5% year over year from 26 cents. FFO attributable to common stockholders totaled US$7.3 million, a decrease of 12.2% from US$8.3 million in the prior-year period.

AFFO rose 12.7% from the prior-year period to US$9.6 million, or 30 cents per share, from US$8.5 million, or 27 cents per share.

The company expects FFO per share in the range of US$1.13 to US$1.15 for the full year. The company expects AFFO per share in the range of US$1.19 to US$1.22 for the full year.

Additional coverage

JLL EPS up 14.1% YOY in Q2

Wyndham Destinations Q2 net income jumps YOY

Host Hotels posts 10.2% YOY gain in Nareit FFO per share, lifts FY'18 outlook