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The Earnings Report

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The Earnings Report

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

* OUTFRONT Media Inc. disclosed 2017 fourth-quarter funds from operations of $75.5 million, or 54 cents per share, a 6.6% rise in the aggregate from $70.8 million, or 51 cents per share, in the year-ago period.

For the quarter, adjusted FFO gained 6.7% on an annual basis to $82.8 million, or 60 cents per share, from $77.6 million, or 56 cents per share.

For the 2017 full year, the company posted a 1.1% year-over-year decline in FFO. In the aggregate, results totaled $277.3 million, or $2.00 per share, compared with $280.4 million, or $2.03 per share. Full-year 2017 AFFO totaled $277.6 million, or $2.00 per share, compared to $294.5 million, or $2.13 per share, a year ago.

* Hotel real estate investment trust RLJ Lodging Trust reported 2017 fourth-quarter AFFO of $99.4 million, or 57 cents per share, a 33.6% rise in the aggregate from $74.4 million, or 60 cents per share, in the 2016 fourth quarter.

The company posted AFFO for the full year 2017 of $339.1 million, or $2.40 per share, compared to $332.7 million, or $2.67 per share, a year ago.

The S&P Capital IQ consensus FFO estimate for the reporting quarter was 52 cents per share, while analysts expect full-year 2017 FFO per share at $2.31.

* Seniors housing community operator Capital Senior Living Corp. reported a 2017 fourth-quarter net loss of $6.4 million, or 22 cents per share, a 39.5% decline in the aggregate from $10.5 million, or 36 cents per share, in the 2016 fourth quarter.

The company posted a 57.6% year-over-year increase in its net loss for the 2017 full year. In the aggregate, results totaled to a loss of $44.2 million, or a loss of $1.50 per share, compared with a loss of $28.0 million, or a loss of 97 cents per share, in the year-ago period.

The S&P Capital IQ consensus estimate for the quarter was a net loss of 25 cents per share, with four analysts reporting. For the 2017 full year, the S&P Capital IQ consensus estimate was a net loss of $1.51 per share.

* Canadian Apartment Properties Real Estate Investment Trust reported normalized FFO for the 2017 fourth quarter of C$61.9 million, or 44.6 cents per unit, a gain of 5.2% in the aggregate from C$58.9 million, or 43.2 Canadian cents per unit, in the 2016 fourth quarter.

For the 2017 full year, the company reported an 8.1% year-over-year gain in normalized FFO. In the aggregate, results totaled C$250.5 million, or C$1.817 per unit, compared with C$231.8 million, or C$1.750 per unit.

The S&P Capital IQ consensus FFO estimate for the quarter was 47 cents per share. For full year 2017, the S&P Capital IQ consensus estimate for FFO was C$1.83 per share.