This roundup collects recently reported earnings and guidance from North American commercial real estate companies.
* Healthcare real estate investment trust Physicians Realty Trust disclosed 2017 fourth-quarter funds from operations applicable to common shares and operating partnership units of $46.2 million, or 25 cents per share, a 33.4% increase in the aggregate from $34.6 million, or 25 cents per share, in the 2016 fourth quarter.
Normalized FFO for the quarter gained 29.9% from the year-ago period to $49.6 million, or 27 cents per share, from $38.2 million, or 27 cents per share.
The S&P Capital IQ consensus FFO estimate for the quarter was 27 cents per share.
* Diversified REIT EPR Properties disclosed FFO available to common shareholders for the 2017 fourth quarter of $78.0 million, or $1.06 per share, a decline in the aggregate from $80.4 million, or $1.25 per share, in the 2016 fourth quarter.
AFFO for the quarter increased 18.7% year over year to $95.9 million, or $1.29 per share, from $80.7 million, or $1.26 per share.
The company disclosed a 7.5% year-over-year rise in FFO available to common shareholders for full year 2017. In the aggregate, results totaled $327.4 million, or $4.58 per share, compared with $304.6 million, or $4.77 per share in the year-ago period.
AFFO for the year totaled $360.5 million, or $5.02 per share, a 17.1% increase from $308.0 million, or $4.82 per share, the previous year.
In reporting results, EPR Properties said it expects AFFO per share in the range of $5.23 to $5.38 for the 2018 full year, compared to previous guidance in the range of $5.33 to $5.48.
* Select-service hotel operator and owner La Quinta Holdings Inc. disclosed 2017 fourth-quarter net income attributable to company stockholders of $121.2 million, or $1.03 per share, compared to the net loss of $28,000 in the 2016 fourth quarter.
Adjusted net loss for the quarter totaled $6.4 million, or 5 cents per share, compared to the net income of $873,000, or 1 cent per share, a year ago.
For full year 2017, net income attributable to the company stockholders was $152.0 million, or $1.30 per share, compared to the net loss of $1.3 million, or 1 cent per share, a year ago.
Adjusted net income for the year amounted to $34.4 million, or 29 cents per share, a 41.1% decrease from $58.3 million, or 49 cents per share, in 2016.
* Diversified REIT Gramercy Property Trust reported core FFO attributable to common shareholders and unit holders for the 2017 fourth quarter of $85.7 million, or 52 cents per share, an 18.6% rise in the aggregate from $72.3 million, or 51 cents per share, in the 2016 fourth quarter.
AFFO for the quarter increased 17.2% year over year to $80.7 million, or 49 cents per share, up from $68.9 million, or 48 cents per share.
The company disclosed a 2.1% year-over-year rise in core FFO attributable to common shareholders and unitholders for the full year 2017. In the aggregate, results totaled $320.8 million, or $2.05 per share, compared with $314.4 million, or $2.21 per share.
AFFO for the year were $298.5 million, or $1.90 per share, a 3.4% increase from $288.6 million, or $2.03 per share, in the year-ago period.
The S&P Capital IQ consensus FFO estimate for the quarter was 52 cents per share, while the consensus estimate for AFFO was 48 cents per share for the quarter.
For the 2017 full year, the S&P Capital IQ consensus estimate for FFO was $2.03 per share, and the consensus estimate for AFFO per share was $1.84.
Gramercy Property Trust expects AFFO per share in the range of $1.90 to $1.95 for the 2018 full year.
For the 2018 full year, the S&P Capital IQ consensus AFFO-per-share estimate is $1.98.
* Hilton Grand Vacations Inc. reported net income for the 2017 fourth quarter of $183.0 million, or $1.83 per share, compared with $38.0 million, or 38 cents per share, in the 2016 fourth quarter.
For full year 2017, net income rose to $327.0 million, or $3.28 per share, from $168.0 million, or $1.70 per share in the year-ago period.
The S&P Capital IQ consensus EPS GAAP estimate for the fourth-quarter and full-year 2017 were 50 cents and $1.94, respectively.
The hotel company expects EPS for full-year 2018 to range between $2.90 and $3.06. The S&P Capital IQ consensus EPS GAAP estimate for 2018 is $2.29.
