REIT Stocks Q3 Earnings Queued Up For Oct 18: CCI, SLG & BDN

Houston-based Crown Castle International Corp. (CCI - Free Report) is a leading wireless communication tower operator in the United States. Crown Castle’s ongoing operation in the consolidated wireless industry has reduced demand for cell-tower deployment. This, in turn, might dent the company’s top line considerably. Also, the latest technologies have reduced demand for site leases.

In the last reported quarter, Crown Castle noted that it projects third-quarter site-rental revenues in the range of $888-$893 million. The Zacks Consensus Estimate for the same is $891 million. The Zacks Consensus Estimate for net revenues from network services and other segment is currently pegged at 176 million. (Read more: Will Crown Castle Disappoint Investors in Q3 Earnings?)

The company currently carries a Zacks Rank #4 (Sell) and an Earnings ESP of -3.52%. Over the trailing four quarters, Crown Castle beat the Zacks Consensus Estimate in two occasions for as many misses, generating an average negative surprise of 0.19%. This is depicted in the graph below:

Crown Castle International Corporation Price and EPS Surprise


SL Green Realty Corp. (SLG - Free Report) has been boosting its capacity to offer office space through an opportunistic investment policy. This bodes well for the company amid an improving economy and job-market environment. The Zacks Consensus Estimate for the third-quarter property net operating income (NOI) and net rental revenues are currently pegged at $183 million and $281 million, respectively, nearly in line with the previous quarter’s figures.  

Nonetheless, the company has been long troubled on the retail front, with an increasing number of retailers jumping on the dot-com bandwagon. This will likely create pressure on SL Green’s top-line performance. Of late, many retailers have been filing for bankruptcy and opting for store closures, as mall traffic has been shrinking owing to soaring online purchases. Although the company is aggressively taking initiatives to lure consumers, it may take a while for these efforts to reflect in its operating results. (Read more: Will Rise in Supply Impact SL Green's Q3 Earnings?)

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Disclosure: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained ...

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