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Most US REITs beat 2016 earnings estimates

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Most US REITs beat 2016 earnings estimates

Publicly traded U.S. equity REITs topped S&P Capital IQ earnings estimates by a median of 0.43% in 2016, and of the 154 REITs with market caps above $200 million and at least three analyst estimates, 112 beat consensus, while 42 fell short.

All six data center REITs topped earnings estimates, while eight of the 15 REITs in the specialty sector, consisting of farmland, communications, prison, energy infrastructure, casino and advertising REITs, fell short.

Farmland REIT Farmland Partners Inc. topped its S&P Capital IQ FFO estimate by 13.7%, the largest margin. Diversified REIT Investors Real Estate Trust followed closely behind, beating its consensus estimate by 13.0%.

Vornado Realty Trust, which technically surpassed its consensus estimate by 59.8%, was excluded from the analysis and ranking due to nonrecurring items affecting its 2016 reported values.

Multifamily REIT Bluerock Residential Growth REIT Inc. posted the largest earnings miss for the year, falling short of its 18 cents FFO-per-share estimate by 65.7%. Healthcare REIT MedEquities Realty Trust Inc also saw a notable earnings miss, at 45.9%.

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Use SNL's Real Estate Beats & Misses Template to examine the actual and percentage beat/miss for a specific REIT sector. Other templates are available in SNL's template library.