REIT stocks are a type of investment that allows people to invest in real estate without having to buy property outright. REITs are typically bought and sold on stock exchanges, and they can be an attractive investment for those looking for income-producing assets. REIT stocks tend to pay high dividends, and they can provide a steady stream of income.
Also, REITs also offer the potential for capital gains, as the value of the underlying property may appreciate over time. REITs are subject to some risks, however, including interest rate risk and changes in the overall real estate market. Nevertheless, REIT stocks can be a viable option for investors seeking exposure to the real estate market. Considering this, let’s look at three REIT stocks to check out in the stock market this week.
Real Estate Stocks To Buy [Or Sell] Now
- American Tower Corporation (NYSE: AMT)
- CubeSmart (NYSE: CUBE)
- National Retail Properties (NYSE: NNN)
1. American Tower Corp (AMT Stock)
Leading off, American Tower Corporation (AMT) is one of the largest American providers of wireless infrastructure. For a sense of scale, with over 222,000 cell towers worldwide and more than 25 data centers small cells in the United States. The company also has a strong presence in Brazil and India. Currently, AMT offers its shareholders a quarterly dividend of $1.47 per common stock, which reflects a 2.72% annual dividend yield.
AMT Recent Stock News
At the end of October, AMT released its third-quarter 2022 financial results. In the report, the REIT reported earnings of $2.36 per share and revenue of $2.7 billion for Q3 2022. AMT also said it expects the fiscal year 2022 funds from operations in the range of $9.57 to $9.74 per share. In addition, net income attributable to AMT common stockholders advanced 16.1% to $840 million.
Furthermore, Tom Bartlett, American Tower’s CEO, commented, “We saw strong leasing trends across our global portfolio of communications assets in the third quarter, as our customers continued to aggressively deploy next-generation networks. Our business continues to demonstrate resiliency in the face of economic volatility, delivering solid performance and double-digit growth in our common stock dividend.“
AMT Stock Chart
In the last month of trading action, shares of AMT stock have begun to recover by 14.86%. Though, AMT stock is still down 24.60% year-to-date. Meanwhile, shares of American Tower Corp are set to open this week’s trading session at around $215.90 per share.
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2. CubeSmart (CUBE Stock)
Next, CubeSmart (CUBE) is a real estate investment trust. They specialize in acquiring, owning, and managing self-storage facilities throughout the United States. The company’s real estate portfolio is made up of buildings with many enclosed storage areas for both residential and commercial customers to rent mostly on a month-by-month basis. Additionally, the company currently offers its shareholders a quarterly dividend of $0.43 per common stock, which results in a 4.24% annual dividend yield.
CUBE Recent Stock News
Late last month, CubeSmart announced its third-quarter 2022 financial results. In it, the company reported Q3 2022 earnings of $0.66 per share, along with revenue of $261.4 million. This is versus the street’s consensus estimates, which was earnings of $0.65 per share with revenue of $252.6 million. Moreover, CubeSmart also notched in a 23% increase in revenue versus the same period, a year prior.
What’s more, President and CEO Christopher P. Marr at CUBE commented, “We continue to see solid demand across the portfolio as we returned to more normalized seasonal trends during the quarter. We are in an outstanding position as our focus shifts to 2023. With another year of positive cash flow growth and a strong balance sheet, we’re well-positioned to perform in any economic climate and capitalize on all growth opportunities that present themselves.“
CUBE Stock Chart
Over the last month of trading activity, CUBE stock has started to recover by 5.03% as of Friday’s closing bell. Meanwhile, shares of CubeSmart stock have fallen 26.05% so far in 2022. Looking into this week, CUBE stock is set to open Monday’s trading action at around $40.50 a share.
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3. National Retail Properties (NNN Stock)
Last but not least, National Retail Properties (NNN) is a publicly traded real estate investment trust. In detail, NNN specializes in the ownership, operation, and development of retail properties. The company’s portfolio consists of approximately 3,349 properties located in 48 states, leased to more than 380 national and regional tenants. Aside from that, National Retail Properties currently has a quarterly dividend of $0.55 per common stock, which equates to an annual dividend yield of 4.83%.
NNN Recent Stock News
At the beginning of this month, National Retail Properties reported its third-quarter 2022 financial results. Diving in, the company posted earnings of $0.81 per share, to go along with revenue of $193.5 million. For context, analysts’ consensus estimates for the quarter were earnings of $0.78 per share and revenue of $192.6 million. Additionally, NNN also said it now expects FY 2022 funds from operation estimates in the range of $3.18 to $3.22 per share.
Furthermore, Steve Horn, Chief Executive Officer, said this about the quarter, “National Retail Properties is in position to finish 2022 strong. Third quarter included approximately $223 million of real estate acquisitions and NNN continues to consistently have high occupancy levels and rent collections. NNN is in fantastic shape heading into next year with an exceptional balance sheet; with less than $50 million outstanding on our $1.1 billion line of credit and no material debt maturities in 2023.“
NNN Stock Chart
If we look at the last month of trading action, NNN stock has recovered 15.62%. Though, year-to-date shares of NNN stock are still down 5.05%, which outperforms the broader markets so far in 2022. Meanwhile, going into Monday morning’s trading session, National Retail Properties stock is set to open at around $45.52 a share.
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