Financial Performance - Net loss attributable to common stockholders was $0.8 million, or $0.01 per diluted share[24], compared to a $3.1 million loss, or $0.05 per diluted share, in the prior year period[24] - Funds from operations (FFO) attributable to common stockholders and noncontrolling interest was $14.3 million, or $0.20 per share and unit[24], compared to $13.9 million, or $0.20 per share and unit, in the prior year period[24] - Adjusted funds from operations (AFFO) attributable to common stockholders and noncontrolling interest was $16.6 million, or $0.23 per share and unit[24], compared to $15.7 million, or $0.22 per share and unit, in the prior year period[24] - The company reaffirms its full year 2025 AFFO per share and unit guidance of $0.89 to $0.93[24] Portfolio and Investment Activities - Gross investment in real estate totaled $1.5 billion[9, 30] with 193 buildings across 35 states[9] - The company completed acquisitions of medical properties for an aggregate purchase price of $38.1 million with annualized base rent of $3.6 million in April 2025[24] - The company sold a medical facility in Chipley, Florida for gross proceeds of $1.4 million, resulting in a gain of $0.2 million[24] - Total annualized base rent (ABR) for the portfolio is $117.5 million[30] with a weighted average cap rate of 8.0%[9, 30] and leased occupancy of 94.5%[9, 30] Debt and Capitalization - The company's leverage was 47.2% as of June 30, 2025[24], and Net Debt / Annualized Adjusted EBITDAre was 6.8x for the second quarter of 2025[24] - As of August 4, 2025, the company's borrowing capacity under the credit facility was $177 million[24]

Financial Performance - Service Properties (SVC) reported quarterly funds from operations (FFO) of $0.35 per share, exceeding the Zacks Consensus Estimate of $0.34 per share, but down from $0.45 per share a year ago, indicating a FFO surprise of +2.94% [1] - The company posted revenues of $503.44 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.14%, although this is a decrease from year-ago revenues of $512.95 million [2] Market Performance - Service Properties shares have increased approximately 3.5% since the beginning of the year, compared to the S&P 500's gain of 7.6% [3] - The current status of estimate revisions for Service Properties is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $0.30 on revenues of $474.76 million, and for the current fiscal year, it is $0.86 on revenues of $1.86 billion [7] - The outlook for the REIT and Equity Trust - Other industry is currently in the top 40% of over 250 Zacks industries, indicating a favorable environment for performance [8]

Core Viewpoint - Summit Hotel Properties reported quarterly funds from operations (FFO) of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.26 per share, but down from $0.29 per share a year ago [1][2] Financial Performance - The FFO surprise for the quarter was +3.85%, and the company has surpassed consensus FFO estimates in all four of the last quarters [2] - Revenues for the quarter were $192.92 million, missing the Zacks Consensus Estimate by 1.68%, compared to $193.9 million in the same quarter last year [3] - The company has topped consensus revenue estimates two times over the last four quarters [3] Stock Performance - Summit Hotel Properties shares have declined approximately 26.1% year-to-date, while the S&P 500 has gained 7.6% [4] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating expectations of underperformance in the near future [7] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $0.22 on revenues of $183.58 million, and for the current fiscal year, it is $0.89 on revenues of $744.69 million [8] - The estimate revisions trend prior to the earnings release was unfavorable, which may impact future stock movements [6][7] Industry Context - The REIT and Equity Trust - Other industry is currently in the top 40% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9]

Core Insights - Outfront Media reported quarterly funds from operations (FFO) of $0.51 per share, exceeding the Zacks Consensus Estimate of $0.46 per share, and showing an increase from $0.50 per share a year ago [1][2] - The company experienced an FFO surprise of +10.37% this quarter, having surpassed consensus FFO estimates three times over the last four quarters [2] - Revenues for the quarter were $460.2 million, which fell short of the Zacks Consensus Estimate by 0.38% and decreased from $477.3 million year-over-year [3] Financial Performance - The FFO for the current quarter was $0.51, compared to $0.50 in the same quarter last year [1] - The revenue of $460.2 million represents a decline of 3.1% from the previous year's revenue of $477.3 million [3] - The company has only topped consensus revenue estimates once in the last four quarters [3] Market Position - Outfront Media shares have declined approximately 1.2% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [4] - The current Zacks Rank for Outfront Media is 3 (Hold), indicating expected performance in line with the market in the near future [7] Future Outlook - The consensus FFO estimate for the upcoming quarter is $0.48, with projected revenues of $452.21 million, and for the current fiscal year, the estimate is $1.85 on $1.8 billion in revenues [8] - The outlook for the industry, particularly the REIT and Equity Trust - Other sector, is currently in the top 40% of Zacks industries, suggesting a favorable environment for performance [9]

分组1 - Elme reported quarterly funds from operations (FFO) of $0.24 per share, exceeding the Zacks Consensus Estimate of $0.23 per share, and showing an increase from $0.23 per share a year ago, resulting in an FFO surprise of +4.35% [1] - The company achieved revenues of $62.1 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.91%, and an increase from $60.1 million year-over-year [2] - Elme has surpassed consensus revenue estimates four times over the last four quarters, indicating consistent performance [2] 分组2 - The stock's immediate price movement will depend on management's commentary during the earnings call and future FFO expectations [3] - Elme shares have gained approximately 7.6% since the beginning of the year, aligning with the S&P 500's gain of 7.6% [3] - The current consensus FFO estimate for the upcoming quarter is $0.24 on revenues of $62.58 million, and for the current fiscal year, it is $0.95 on revenues of $248.7 million [7] 分组3 - The Zacks Industry Rank places the REIT and Equity Trust - Residential sector in the bottom 41% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - The estimate revisions trend for Elme was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6]

Group 1 - Hudson Pacific Properties (HPP) reported quarterly funds from operations (FFO) of $0.04 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, but down from $0.17 per share a year ago, representing an FFO surprise of +33.33% [1] - The company posted revenues of $190 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 3.33%, compared to year-ago revenues of $218 million [2] - Hudson Pacific has surpassed consensus FFO estimates three times over the last four quarters, but has only topped consensus revenue estimates once in the same period [2] Group 2 - The stock has underperformed, losing about 20.5% since the beginning of the year, while the S&P 500 has gained 7.6% [3] - The current consensus FFO estimate for the coming quarter is $0.03 on revenues of $199.86 million, and for the current fiscal year, it is $0.17 on revenues of $795.74 million [7] - The Zacks Industry Rank indicates that the REIT and Equity Trust - Other sector is currently in the top 40% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Core Insights - One Liberty Properties, Inc. has entered into an agreement to acquire an industrial property for $24.0 million, bringing total acquisitions in 2025 to over $112 million [1][10] - The company completed the sale of three retail assets, resulting in a net gain of $6.5 million [1][12] - The transformation of the portfolio towards primarily industrial properties has positively impacted the company's results [3] Operating Results - Rental income for the second quarter of 2025 increased by 12.3% year-over-year to $24.5 million, driven by acquisitions and an increase in same-store rental income [4] - Total operating expenses rose to $15.7 million in Q2 2025 from $14.9 million in Q2 2024, primarily due to higher real estate expenses and increased depreciation [5] Income and Funds from Operations - Net income attributable to One Liberty for Q2 2025 was $8.4 million, or $0.39 per diluted share, down from $9.6 million, or $0.45 per diluted share, in Q2 2024 [7] - Funds from Operations (FFO) increased to $9.7 million, with a per diluted share growth of 4.7% to $0.45 [8] - Adjusted Funds from Operations (AFFO) was $10.6 million, reflecting a diluted per share growth of 2.1% to $0.49 [8] Acquisitions and Dispositions - The company has contracted to acquire a 210,600 square foot industrial property in Blythewood, South Carolina for $24.0 million, with expected annual base rent of approximately $1.5 million [10][11] - The sale of three retail assets generated net proceeds of $18.3 million after mortgage debt repayment [12] Balance Sheet - As of June 30, 2025, One Liberty had total assets of $795.6 million and total debt of $455.0 million [13] - The company reported $19.0 million in cash and cash equivalents, with available liquidity of approximately $115.5 million as of August 1, 2025 [13] Subsequent Events - On July 15, 2025, the company sold a land parcel in Lakewood, Colorado for $3.5 million, expecting to recognize a $2.9 million gain in Q3 2025 [14] - On August 1, 2025, a retail property in Eugene, Oregon was sold for $6.0 million, with an anticipated gain of $2.5 million [15]

Core Insights - Vornado Realty Trust's second-quarter 2025 adjusted funds from operations (FFO) were 56 cents per share, exceeding the Zacks Consensus Estimate of 53 cents, but reflecting a 1.8% decline year over year [1][11] - Total revenues for the quarter were $441.4 million, falling short of the Zacks Consensus Estimate of $455.4 million, and representing a nearly 2% decrease year over year [2] Financial Performance - Total same-store net operating income (NOI) for the quarter was $260.8 million, up from $247.4 million in the prior-year quarter, with increases in the New York, THE MART, and 555 California Street portfolios of 1.8%, 57.7%, and 3.1% respectively [3][11] - The New York office portfolio saw leasing of 1,479,000 square feet at an initial rent of $101.44 per square foot, with a weighted average lease term of 6.8 years [4] - In the New York retail portfolio, 57,000 square feet were leased at an initial rent of $96.77 per square foot, with a weighted average lease term of 8.1 years [5] - At THE MART, 127,000 square feet were leased at an initial rent of $50.87 per square foot, with a weighted average lease term of 5.6 years [6] Portfolio Activity - A joint venture with a 55% interest sold 512 West 22nd Street, a 173,000 square foot office building, for $205 million [8] - Another joint venture with a 50% interest completed the sale of the 49 West 57th Street commercial condominium during the same period [8] Occupancy Rates - The total New York portfolio occupancy was 85.2%, down 310 basis points year over year, while THE MART's occupancy was 78.2%, up 130 basis points year over year, and 555 California Street's occupancy was 92.3%, down 220 basis points year over year [7] Balance Sheet - Vornado ended the quarter with cash and cash equivalents of $1.2 billion, an increase from $568.9 million as of March 31, 2025 [9]

Core Viewpoint - NNN REIT reported quarterly funds from operations (FFO) of $0.85 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, and showing a year-over-year increase from $0.84 per share [1] Financial Performance - The company posted revenues of $226.5 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.42%, compared to $216.14 million in the same quarter last year [2] - Over the last four quarters, NNN REIT has exceeded consensus FFO estimates two times and topped consensus revenue estimates four times [2] Stock Performance - NNN REIT shares have increased approximately 5.4% since the beginning of the year, while the S&P 500 has gained 7.6% [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $0.85 on revenues of $228.22 million, and for the current fiscal year, it is $3.42 on revenues of $913.85 million [7] - The estimate revisions trend for NNN REIT was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The REIT and Equity Trust - Other industry is currently in the top 40% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8]

Financial Performance - Uniti Group reported quarterly funds from operations (FFO) of $0.36 per share, missing the Zacks Consensus Estimate of $0.70 per share, representing an FFO surprise of -48.57% [1] - The company posted revenues of $300.73 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 1.04%, compared to year-ago revenues of $294.95 million [2] - Over the last four quarters, Uniti has surpassed consensus FFO estimates just once and topped consensus revenue estimates only once [2] Stock Performance - Uniti shares have lost about 11.3% since the beginning of the year, while the S&P 500 has gained 7.6% [3] - The current consensus FFO estimate for the coming quarter is $0.60 on revenues of $935.6 million, and for the current fiscal year, it is $2.49 on revenues of $2.44 billion [7] Industry Outlook - The REIT and Equity Trust - Other industry, to which Uniti belongs, is currently in the top 40% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that industry performance can significantly impact stock performance [5][8]