This roundup collects recently reported earnings and guidance from North American commercial real estate companies.
* CoreSite Realty Corp. said its funds from operations available to common shareholders and operating partnership unit holders for the second quarter was $1.28 per share, compared with the S&P Capital IQ consensus FFO estimate of $1.24 per share.
In the prior-year period, the per-share result came in at a profit of $1.27. FFO totaled $61.5 million, compared with $61.0 million in the prior-year period.
The data center real estate investment trust forecasts FFO per share in the range of $5.00 to $5.08 for the full year, an increase from the previous guidance range of $4.92 to $5.04.
For the full year, the S&P Capital IQ consensus FFO estimate is $5.05 per share.
* Kimco Realty Corp. said its FFO available to the shopping center REIT's common shareholders for the second quarter came to 39 cents per share, compared with the S&P Capital IQ consensus FFO estimate of 36 cents per share.
The per-share results decreased year over year from 41 cents. FFO totaled $165.3 million, a decrease of 5.6% from $175.0 million in the prior-year period.
Adjusted FFO decreased year over year to $155.7 million, or 37 cents per share, from $160.7 million, or 38 cents per share.
In reporting results, the company said it forecasts Nareit FFO per share and AFFO per share in the range of $1.43 to $1.46 for the full year, compared with previous guidance in the range of $1.42 to $1.46.
Nareit is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.
For the full year, the S&P Capital IQ consensus FFO estimate is $1.45 per share.
* CubeSmart said its second-quarter FFO attributable to common shareholders and operating partnership unit holders amounted to 41 cents per share, in line with the S&P Capital IQ consensus FFO estimate of 41 cents per share.
The per-share results climbed 5.1% year over year from 39 cents. FFO totaled $75.8 million, an increase of 6.1% from $71.4 million in the year-earlier period.
AFFO rose year over year to $75.8 million, or 41 cents per share, from $72.3 million, or 39 cents per share.
In reporting results, the self-storage REIT said it expects AFFO per share in the range of $1.61 to $1.65 for the full year, steady with the previous forecast. The company also expects AFFO per share in the range of 41 cents to 42 cents for the third quarter.
The S&P Capital IQ consensus FFO estimate for the full year is $1.63 per share, while analysts expect FFO per share for the third quarter at 42 cents.
* Columbia Property Trust Inc. said its second-quarter normalized FFO came to 39 cents per share, compared with the S&P Capital IQ consensus FFO estimate of 37 cents per share.
The per-share results climbed year over year from 26 cents. Normalized FFO totaled $45.8 million, a gain of 43.7% from $31.9 million in the prior-year period.
AFFO totaled $32.1 million, compared with $16.4 million in the year-earlier period.
In reporting results, the office REIT said it expects FFO per share in the range of $1.64 to $1.69 for the full year.
The company also forecasts normalized FFO per share in the range of $1.46 to $1.51 for the full year, an increase from previous guidance in the range of $1.43 to $1.48.
For the full year, the S&P Capital IQ consensus FFO estimate is $1.46 per share.
* Corporate Office Properties Trust said its FFO available to common share and common unit holders for the second quarter amounted to 51 cents per share, compared with the S&P Capital IQ consensus FFO estimate of 50 cents per share.
The per-share results increased 21.4% year over year from 42 cents. FFO available to common share and common unit holders totaled $53.7 million, a gain of 25.9% from $42.7 million in the year-earlier period.
AFFO available to common share and common unit holders came to $39.7 million, compared with $43.7 million in the year-earlier period.
In reporting results, the office and data center REIT said it expects Nareit-defined FFO per share in the range of $1.97 to $2.03 for the full year, 49 cents to 51 cents for the third quarter and 48 cents to 52 cents for the fourth quarter.
The company also expects FFO per share, as adjusted for comparability, in the range of $1.98 to $2.04 for the full year, 49 cents to 51 cents for the third quarter and 48 cents to 52 cents for the fourth quarter.
The S&P Capital IQ consensus FFO estimates are $2.01 per share for the full year, 50 cents per share for the third quarter and 51 cents per share for the fourth quarter.
* Washington Real Estate Investment Trust said its Nareit FFO for the second quarter was 48 cents per share, compared with the S&P Capital IQ consensus FFO estimate of 47 cents per share.
In the prior-year period, the per-share result came in at a profit of 48 cents. Nareit FFO totaled $38.1 million, an increase from $37.1 million in the prior-year period.
Core FFO totaled $38.1 million, or 48 cents per share, compared with $37.2 million, or 48 cents per share, in the year-earlier period.
The diversified REIT forecasts core FFO per share in the range of $1.83 to $1.89 for the full year, a tightening from previous guidance in the range of $1.82 to $1.90.
For the full year, the S&P Capital IQ consensus FFO estimate is $1.86 per share.
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