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What We're Watching This REIT Earnings Season
2026-04-23 · via All Articles on Seeking Alpha

Summary

  • As REIT earnings season kicks into gear this week, we preview and forecast results and major trends based on a review of recent operating indicators and data across various sources.
  • Good vibes are back. After another disappointing year in 2025, REITs have held onto early-year momentum despite renewed interest rate volatility, supporting renewed IPO and M&A activity across the sector.
  • Several encouraging green shoots have emerged in recent months, including surprisingly resilient travel demand, continued strength in retail leasing and occupancy, and a return of some "animal spirits."
  • Early signs of stabilization are also emerging in previously supply-pressured property sectors, including office, industrial, and life sciences, as shrinking development pipelines and moderating construction activity begin to rebalance supply-demand.
  • Weaker trends persist across housing-related sectors, including soft residential rent growth in supply-heavy Sunbelt markets, subdued housing turnover weighing on self-storage demand, and elevated interest-rate volatility pressuring mortgage REIT performance.
  • iREIT®+HOYA Capital members get exclusive access to our real-world portfolio. See all our investments here »
The Freedom Tower and NYC Skyline

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Real Estate Earnings Preview

Real estate earnings season kicks into gear this week, and over the next month, we'll see results from over 160 equity REITs, 40 mortgage REITs, and dozens of housing industry companies. After another disappointing year in 2025 - the fourth

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of RIET, HOMZ, IRET, ALL HOLDINGS IN THE IREIT+HOYA PORTFOLIOS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Hoya Capital Research & Index Innovations ("Hoya Capital") is an affiliate of Hoya Capital Real Estate, a registered investment advisory firm based in Rowayton, Connecticut, that provides investment advisory services to ETFs, individuals, and institutions. Hoya Capital Research & Index Innovations provides non-advisory services including market commentary, research, and index administration focused on publicly traded securities in the real estate industry. This published commentary is for informational and educational purposes only. Nothing on this site nor any commentary published by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. This commentary is impersonal and should not be considered a recommendation that any particular security, portfolio of securities, or investment strategy is suitable for any specific individual, nor should it be viewed as a solicitation or offer for any advisory service offered by Hoya Capital Real Estate. Please consult with your investment, tax, or legal adviser regarding your individual circumstances before investing. The views and opinions in all published commentary are as of the date of publication and are subject to change without notice. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Any market data quoted represents past performance, which is no guarantee of future results. There is no guarantee that any historical trend illustrated herein will be repeated in the future, and there is no way to predict precisely when such a trend will begin. There is no guarantee that any outlook made in this commentary will be realized. Readers should understand that investing involves risk, and loss of principal is possible. Investments in real estate companies and/or housing industry companies involve unique risks, as do investments in ETFs. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. An investor cannot invest directly in an index, and index performance does not reflect the deduction of any fees, expenses, or taxes. Hoya Capital Real Estate and Hoya Capital Research & Index Innovations have no business relationship with any company discussed or mentioned and never receive compensation from any company discussed or mentioned. Hoya Capital Real Estate, its affiliates, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and in our published commentary. A complete list of holdings and additional important disclosures is available at www.HoyaCapital.com.

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