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Actual property funding trusts (REITs) have suffered via a horrible 12 months in 2022 as inflation pushed the Federal Reserve to boost rates of interest a half dozen occasions.
Shares of most REITs fell 30% or extra till mid-October when most of them touched 52-week lows after which bottomed. Since then, some have continued to languish, however the higher shares have come again strongly.
Traders ought to deal with the shares exhibiting the strongest relative power within the numerous REIT subsectors. Check out the three of the best-performing workplace REITs over the previous month (Observe: Solely REITs over $5 per share had been thought-about):
Alexandria Actual Property Equities Inc. (NYSE: ARE) is a Pasadena, California-based REIT with a portfolio of 74.5 million sq. ft that’s dwelling to greater than 1,000 tenants dedicated to life science, agtech and expertise corporations — what its web site calls “high innovation clusters.” Areas of its property embody cities corresponding to Boston, New York, Seattle and San Francisco.
Boosting Alexandria Actual Property Equities’ efficiency over the previous month was its third-quarter working outcomes. Income was up 20.5% over the identical quarter in 2021, and funds from operations (FFO) got here in at $2.13 per share, a 9% enhance over the third quarter of 2021’s $1.95. Web revenue of $2.11 was effectively forward of the $0.67 from the third quarter of 2021.
Alexandria Actual Property Equities has a present occupancy fee of 94.3%. It’s paying an annual dividend of $4.72, yielding 3.7%. Shares are up 8.89% over the previous 4 weeks, making it the best-performing REITs within the workplace subsector.
Company Workplace Properties Belief (NYSE: OFC) is a Columbia, Maryland-based REIT that makes a speciality of buying, leasing and managing information middle properties, largely authorities places of work within the Washington, D.C., space.
Company Workplace Properties Belief not too long ago declared its one hundredth consecutive quarterly dividend cost, which is $0.275 per share. The annual dividend of $1.10 per share presently yields 4%.
Third-quarter working outcomes confirmed enchancment over the identical quarter of 2021:
Diluted earnings per share (EPS) got here in at $0.27 in comparison with $0.24 for the third quarter a 12 months in the past.
Diluted funds from operations per share (FFOPS) was $0.58 for the third quarter of 2022, besting $0.56 within the third quarter of 2021.
Shares of Company Workplace Properties Belief are up 8.27% over the previous month, the second-highest achieve amongst workplace REITs.
Cousins Properties Inc. (NYSE: CUZ) is an Atlanta-based workplace REIT based in 1958. It invests in Class A workplace towers positioned in high-growth markets of the Solar Belt. The places of its portfolio are proven on the map:
Cousins Properties’ third-quarter earnings had been just like its third quarter of the earlier 12 months. FFO of $0.69 was an identical to the $0.69 determine within the third quarter of 2021. Income of $193.46 million was 4.3% above the $185.52 million achieved within the third quarter final 12 months.
Over the past 4 quarters, the corporate has surpassed consensus FFO estimates twice. The present annual dividend of $1.28 yields 5.1%.
Shares are up 6.39% over the previous 4 weeks, making it the third-best performer of the workplace REIT sub-category.
Weekly REIT Report: REITs are one of the crucial misunderstood funding choices, making it troublesome for buyers to identify unimaginable alternatives till it’s too late. Benzinga’s in-house actual property analysis workforce has been working arduous to determine the best alternatives in right now’s market, which you’ll be able to achieve entry to at no cost by signing up for Benzinga’s Weekly REIT Report.
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