The Best-Performing REITs Of The First Half Of 2023
Portfolio Pulse from Ethan Roberts
The first half of 2023 has been challenging for stocks, particularly REITs, due to Federal Reserve rate hikes and hints of a recession. However, some REITs have performed well due to improved earnings, raised analyst positions, and acquisitions. The best performers include Angel Oak Mortgage REIT Inc. (AOMR), Arlington Asset Investment Corp. (AAIC), Life Storage Inc. (LSI), EPR Properties (EPR), Tanger Factory Outlet Centers Inc. (SKT), Welltower Inc. (WELL), and Plymouth Industrial REIT Inc. (PLYM).
June 30, 2023 | 2:08 pm
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POSITIVE IMPACT
Arlington Asset Investment Corp.'s shares soared after agreeing to a merger with Ellington Financial Inc., resulting in a total return of 53.2% in H1 2023.
The merger with Ellington Financial Inc. has significantly boosted Arlington Asset Investment Corp.'s shares, leading to a high total return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Angel Oak Mortgage REIT Inc. led all REITs in H1 2023 with a 64.35% total return, despite missing estimates for two consecutive quarters.
Despite missing estimates for two consecutive quarters, Angel Oak Mortgage REIT Inc. has seen a significant increase in its total return. This is likely due to improved market conditions and positive analyst ratings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
EPR Properties reported Q1 2023 FFO and revenue above analysts' expectations, leading to a total year-to-date return of 29.32%.
EPR Properties' higher-than-expected Q1 2023 FFO and revenue have likely contributed to its high total return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Life Storage Inc. reported higher FFO and revenue in Q1 2023 compared to Q1 2022, resulting in a total return of 38.75% in H1 2023.
Life Storage Inc.'s higher FFO and revenue in Q1 2023 compared to Q1 2022 have likely contributed to its high total return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Plymouth Industrial REIT Inc. reported Q1 2023 FFO and revenue that beat estimates, leading to a total return of 21.03% in H1 2023.
Plymouth Industrial REIT Inc.'s higher-than-expected Q1 2023 FFO and revenue have likely contributed to its high total return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tanger Factory Outlet Centers Inc. raised its quarterly dividend and reported Q1 2023 FFO and revenue that beat estimates, leading to a total return of 243.07% in H1 2023.
Tanger Factory Outlet Centers Inc.'s increased dividend and higher-than-expected Q1 2023 FFO and revenue have likely contributed to its high total return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Welltower Inc. raised its 2023 Normalized FFO guidance, leading to a total return of 21.1% in H1 2023.
Welltower Inc.'s increased 2023 Normalized FFO guidance has likely contributed to its high total return.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100