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]

Core Insights - SBA Communications Corporation (SBAC) reported second-quarter 2025 adjusted funds from operations (AFFO) per share of $3.17, exceeding the Zacks Consensus Estimate of $3.12, but down 3.6% from the prior year [1] - The company raised its 2025 outlook despite facing higher costs and interest expenses [1] Financial Performance - Total quarterly revenues increased by 5.8% year over year to $699 million, although it fell short of the Zacks Consensus Estimate of $670.1 million [2] - Site-leasing revenues rose slightly to $631.8 million, with domestic revenues at $469.8 million and international revenues at $162 million [3] - Site development revenues surged by 97.5% year over year to $67.2 million [4] - Adjusted EBITDA totaled $475.5 million, up 1.8%, while the adjusted EBITDA margin decreased to 68.1% from 71.3% in the prior year [4] Cost and Expenses - The cost of site development increased significantly to $53.5 million, and interest expenses rose by 22.7% year over year to $119.7 million [5] Portfolio Activity - SBAC acquired 4,329 communication sites for a total cash consideration of $562.9 million and built 94 towers during the quarter [6] - The company owned or operated 44,065 communication sites as of June 30, 2025 [6] Cash Flow and Liquidity - As of June 30, 2025, SBAC had $0.3 billion in cash and cash equivalents, down from $0.7 billion as of March 31, 2025 [9] - The company ended the quarter with $12.3 billion in net debt and a net debt-to-annualized adjusted EBITDA ratio of 6.5X [9] Share Repurchase and Dividends - During the second quarter, SBAC repurchased 618,000 shares for $130.7 million and an additional 182,000 shares for $41.4 million after the quarter [10] - The company announced a cash dividend of $1.11 per share for the third quarter, payable on September 18, 2025 [12] Guidance Revision - SBAC revised its 2025 AFFO per share guidance to a range of $12.65-$13.02, up from the previous range of $12.53-$12.90 [13] - Adjusted EBITDA guidance was also revised upward to a range of $1,908-$1,928 million [13]

Core Insights - Simon Property Group, Inc. (SPG) reported a second-quarter 2025 real estate funds from operations (FFO) per share of $3.05, exceeding the Zacks Consensus Estimate of $3.04 and up from $2.93 a year ago [1][8] - The company generated revenues of $1.50 billion, slightly missing the Zacks Consensus Estimate of $1.51 billion, but reflecting a year-over-year increase of 2.8% [2] - SPG's occupancy for U.S. Malls and Premium Outlets reached 96%, a 40 basis points increase from 95.6% a year ago, with base minimum rent per square foot rising 1.3% to $58.70 [4][8] Revenue and Financial Performance - Revenues from lease income amounted to $1.38 billion, a 4.8% increase compared to the prior year, surpassing the estimate of $1.36 billion [3] - Domestic property net operating income (NOI) increased by 4.2% year over year, while portfolio NOI rose by 4.7% [4] Strategic Developments - In June 2025, Simon Property acquired its partner's stake in the retail and parking facilities at Brickell City Centre in Miami, FL, achieving full ownership of the asset [5] Balance Sheet and Liquidity - As of the end of the second quarter 2025, SPG had $9.2 billion in liquidity, which included $1.8 billion in cash and $7.4 billion in available capacity under revolving credit facilities [6] Guidance and Outlook - SPG has narrowed its 2025 real estate FFO per share guidance to a range of $12.45 to $12.65, raising the midpoint to $12.55 [7] - The Zacks Consensus Estimate for 2025 FFO per share is at the lower end of this range, at $12.45 [7] Dividend Announcement - Concurrent with its earnings release, SPG announced a quarterly common stock dividend of $2.15 for Q3 2025, marking a 4.9% year-over-year increase [8]

分组1 - Postal Realty Trust (PSTL) reported quarterly funds from operations (FFO) of $0.33 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, and up from $0.26 per share a year ago, representing a surprise of +10.00% [1] - The company achieved revenues of $23.35 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.84%, compared to $18.05 million in the same quarter last year [2] - Postal Realty Trust has consistently surpassed consensus FFO estimates over the last four quarters [2] 分组2 - The stock has gained approximately 5% since the beginning of the year, while the S&P 500 has increased by 6.1% [3] - The future performance of Postal Realty Trust's stock will largely depend on management's commentary during the earnings call and the outlook for FFO [4][6] - The current consensus FFO estimate for the upcoming quarter is $0.30 on revenues of $23.04 million, and for the current fiscal year, it is $1.22 on revenues of $91.26 million [7] 分组3 - The REIT and Equity Trust - Other industry, to which Postal Realty Trust belongs, is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in estimate revisions, which can be tracked by investors [5]

分组1 - LTC Properties reported quarterly funds from operations (FFO) of $0.68 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, and up from $0.65 per share a year ago, representing an FFO surprise of +1.49% [1] - The company posted revenues of $30.18 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 7.81%, and down from $31.66 million year-over-year [2] - Over the last four quarters, LTC has surpassed consensus FFO estimates three times, but has only topped consensus revenue estimates once [2] 分组2 - The stock has underperformed the market, losing about 0.8% since the beginning of the year compared to the S&P 500's gain of 6.1% [3] - The current consensus FFO estimate for the coming quarter is $0.67 on revenues of $33.17 million, and for the current fiscal year, it is $2.67 on revenues of $129.74 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 38% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

分组1 - Diversified Healthcare (DHC) reported quarterly funds from operations (FFO) of $0.08 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.03 per share a year ago [1] - The company posted revenues of $382.71 million for the quarter ended June 2025, which was 1.21% below the Zacks Consensus Estimate, compared to $371.39 million in the same quarter last year [2] - The stock has increased approximately 42.2% since the beginning of the year, significantly outperforming the S&P 500's gain of 6.1% [3] 分组2 - The current consensus FFO estimate for the upcoming quarter is $0.10 on revenues of $392.01 million, and for the current fiscal year, it is $0.31 on revenues of $1.57 billion [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is in the top 38% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Tanger (SKT) came out with quarterly funds from operations (FFO) of $0.58 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to FFO of $0.53 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of +3.57%. A quarter ago, it was expected that this factory outlet mall operator would post FFO of $0.53 per share when it actually produced FFO of $0.53, delivering no surprise. Over the last four quarters, the compa ...

分组1 - National Storage (NSA) reported quarterly funds from operations (FFO) of $0.55 per share, missing the Zacks Consensus Estimate of $0.58 per share, and down from $0.62 per share a year ago, representing an FFO surprise of -5.17% [1] - The company posted revenues of $188.84 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 0.36%, and down from $190.45 million year-over-year [2] - National Storage shares have lost about 21.9% since the beginning of the year, while the S&P 500 has gained 6.1% [3] 分组2 - The current consensus FFO estimate for the coming quarter is $0.59 on revenues of $191.03 million, and for the current fiscal year, it is $2.31 on revenues of $762.96 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 38% of over 250 Zacks industries, indicating that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Core Insights - Ryman Hospitality Properties (RHP) reported quarterly funds from operations (FFO) of $2.35 per share, exceeding the Zacks Consensus Estimate of $2.31 per share, but down from $2.78 per share a year ago [1] - The company achieved an FFO surprise of +1.73% for the quarter and has surpassed consensus FFO estimates three times in the last four quarters [2] - RHP's revenues for the quarter were $659.52 million, surpassing the Zacks Consensus Estimate by 7.39% and up from $613.29 million year-over-year, also topping consensus revenue estimates three times in the last four quarters [3] Financial Performance - The FFO for the previous quarter was expected to be $1.79 per share, but RHP delivered $2.08, resulting in a surprise of +16.2% [2] - The current consensus FFO estimate for the upcoming quarter is $1.83, with projected revenues of $584.91 million, and for the current fiscal year, the estimate is $8.31 on revenues of $2.48 billion [8] Market Position - RHP shares have underperformed the market, losing about 11% since the beginning of the year, while the S&P 500 has gained 6.1% [4] - The Zacks Industry Rank places the REIT and Equity Trust - Other sector in the top 38% of over 250 Zacks industries, indicating a favorable industry outlook [9] Future Outlook - The sustainability of RHP's stock price movement will depend on management's commentary during the earnings call and future FFO expectations [4] - The estimate revisions trend for RHP was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market [7]