The real estate industry is a vast sector that deals with properties, including land, homes, offices, and commercial spaces. It’s a foundational element of the economy, driving jobs, services, and growth in various regions. When people think of real estate, they often imagine buying or selling houses, but it’s much broader than that. The industry encompasses developers who build new properties, managers who oversee them, and many other professionals who ensure everything runs smoothly.
When it comes to the stock market, real estate stocks represent companies involved in real estate activities. By investing in these stocks, you’re essentially buying a piece of these companies, rather than physical property. This offers investors a way to get involved in the real estate world without the need for a hefty down payment or managing physical properties.
Real estate stocks can provide steady income, often through dividends, and can be a way to diversify an investment portfolio. Just like with any other type of stock, it’s important to research and understand the company and the market before making an investment. Given that, here are three real estate stocks to know in the stock market today.
Real Estate Stocks To Watch Right Now
- Simon Property Group Inc. (NYSE: SPG)
- Prologis Inc. (NYSE: PLD)
- American Tower Corporation (NYSE: AMT)
Simon Property Group (SPG Stock)
Starting off, Simon Property Group Inc. (SPG) is a real estate investment trust (REIT) that owns and operates shopping, dining, entertainment, and mixed-use destinations across North America, Europe, and Asia.
In August, Simon Property Group announced its second quarter of 2023 financial results. Specifically, the company reported earnings per share of $2.88, with revenue of $1.37 billion. This is compared to Wall Street’s consensus estimates for the quarter which were earnings of $2.91 per share on revenue estimates of $1.25 billion. As a result, revenue increased by 7.01% versus the same period, the previous year.
Over the last six months of trading action, shares of SPG stock are trading lower by 7.20%. Meanwhile as of Tuesday’s afternoon trading session, Simon Property Group stock is trading at at $114.97 a share.
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Prologis (PLD Stock)
Next, Prologis Inc. (PLD) stands as a global leader in logistics real estate, offering solutions to ensure the efficient delivery of goods in the world’s most vibrant consumer markets. With a vast presence spanning several continents, Prologis focuses on fostering robust supply chains through its strategic property locations.
In mid-July, Prologis reported better-than-expected second-quarter 2023 earnings results. Diving in, the company announced Q2 2023 earnings of $1.83 per share, on revenue of $2.45 billion. This is compared to analysts’ consensus estimates which were an EPS of $1.68 and revenue of $1.69 billion. Moreover, revenue grew by 95.75% versus the same period, the previous year.
In the last six months of trading, Prologis stock is trading lower by 4.09%. Meanwhile, as of Tuesday’s late afternoon trading session, shares of PLD stock are trading at $121.97 a share.
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American Tower Corporation (AMT Stock)
Last but not least, American Tower Corporation (AMT) specializes in the telecommunications infrastructure sector. The company focuses on the ownership, development, and operation of multitenant communications sites. Their extensive portfolio of wireless communication towers facilitates crucial connectivity and ensures the consistent transmission of data across various regions.
In late July, AMT announced a beat for its second quarter of 2023 financial results. Getting right to it, the company posted earnings of $2.46 per share, with revenue of $2.77 billion. This is in comparison to the Street’s consensus estimates which were an EPS of $2.27 and revenue of $2.73 billion. Additionally, revenue came in 3.64% higher versus the same period, the prior year.
Looking at the last six months of trading, AMT stock is down 9.15%. While, as of Tuesday’s closing bell, shares of American Tower Corp. stock closed the day at $180.41 a share.
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