Earnings Scorecard: 10 of 11 S&P 500 real estate companies post Y/Y decline in earnings

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This week, 11 S&P 500 real estate companies reported their quarterly financial results.

During the fourth quarter, XLRE retreated 4.23%, while the State Street SPDR S&P 500 ETF Trust (SPY) was up 2.02%.

KEY TAKEAWAYS

* 6 of the 11 exceeded earnings estimates
* 8 of the 11 exceeded revenue estimates
* 10 of the 11 saw a year-over-year decline in earnings
* 10 of the 11 saw a year-over-year rise in revenue

EARNINGS RECAP

* Simon Property Group (SPG [https://seekingalpha.com/symbol/SPG]) delivered [https://seekingalpha.com/news/4545819-simon-property-q4-earnings-in-line-revenue-beats-26-outlook-midpoint-slightly-higher-than-consensus] Q4 adjusted FFO that met the average analyst estimate when excluding one-time items, even as Q4 revenue easily beat the Wall Street consensus. Property expenses came in higher than Wall Street was expecting.
* Digital Realty (DLR [https://seekingalpha.com/symbol/DLR]) issued [https://seekingalpha.com/news/4548180-digital-realty-q4-earnings-topped-consensus-issues-strong-2026-guidance] 2026 guidance higher than the average analyst estimate and delivered better-than-expected Q4 earnings and revenue, topping off a strong year.
* Healthpeak Properties (DOC [https://seekingalpha.com/symbol/DOC]) turned in [https://seekingalpha.com/news/4545846-healthpeak-properties-narrowly-tops-q4-ffo-consensus-posts-soft-guidance] Q4 funds from operations that slightly surpassed the Wall Street consensus, though its guidance for the full year came in softer than expected.
* Ventas (VTR [https://seekingalpha.com/symbol/VTR]) delivered [https://seekingalpha.com/news/4548223-ventas-q4-earnings] solid Q4 earnings and revenue and guided for 2026 earnings above the consensus estimate as occupancy of its senior housing portfolio climbed over the past year.
* Crown Castle's (CCI [https://seekingalpha.com/symbol/CCI]) outlook for 2026 adjusted EBITDA disappointed [https://seekingalpha.com/news/4547447-crown-castle-stock-dips-after-soft-ebitda-guidance-job-cuts-announced]. It also announced that it's cutting about a fifth of its tower and corporate workforce.

QUARTER-TO-DATE, 15 of the 270 S&P 500 companies that reported earnings are from the real estate sector.

NEXT WEEK

In the coming week, 8 S&P 500 real estate companies are scheduled to report their quarterly financial results.

The companies are Iron Mountain (IRM [https://seekingalpha.com/symbol/IRM]), Federal Realty Investment Trust (FRT [https://seekingalpha.com/symbol/FRT]), Equinix (EQIX [https://seekingalpha.com/symbol/EQIX]), Welltower (WELL [https://seekingalpha.com/symbol/WELL]), Public Storage (PSA [https://seekingalpha.com/symbol/PSA]), Kimco Realty (KIM [https://seekingalpha.com/symbol/KIM]), CBRE Group (CBRE [https://seekingalpha.com/symbol/CBRE]), and UDR (UDR [https://seekingalpha.com/symbol/UDR]).

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