Office REITs Earnings Beat Estimates, But Show Disconnect From Wider Market: Barclays
A number of public real estate investment trusts (REITs) with heavy exposure to the office market beat estimates in second-quarter earnings with assists from outside capital, according to new analysis from Barclays. The Barclays research released Thursday morning looked at 18 REITs with “substantial exposure” to the office sector, 13 of which reported a year-over-year decline in occupancy. Eight of the REITs included in the analysis reported that net operating income (NOI) fell by more than 10 percent, “giving cause for concern, both for these specific REITs and for the ...