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Real Estate stocks post earnings gain in second quarter

WASHINGTON, D.C. — According to data compiled by the National Association of Real Estate Investment Trusts (NAREIT), funds from operations (FFO) and earnings per share for real estate stocks advanced in the second quarter, compared with the same period last year.

The growing profits in the public real estate sector contrast sharply with the declining profits reported by other sectors in corporate America.

FFO per share rose 5.7% on average for the 156 publicly traded real estate companies reporting earnings in the second quarter of 2001. According to NAREIT, the mortgage finance, self-storage and office sectors performed the best. NAREIT reports that about 80% of the companies monitored by industry analysts also met or exceeded their consensus FFO per share estimates for the second quarter.

The combined equity market capitalization of the reporting companies was $160.6 billion and represents 96% of the total industry as of June 2001.

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