Real Estate Earnings Report — 2026-06-26 to 2026-08-10

25 most recent Real Estate earnings

1. Aug 10, 2026, 7:02 AM ET·MITT·Real Estate

   TPG Mortgage Investment Trust, Inc. — Second Quarter 2026 Earnings Summary

   TPG MORTGAGE INVESTMENT TRUST INC

   Reported second quarter 2026 Net Income of $9.092 million ($0.29 per diluted share) and Earnings Available for Distribution (EAD) of $7.736 million ($0.24 per diluted share), with Book Value per share reaching $10.00. Announced a definitive agreement to acquire Cherry Hill Mortgage Investment Corporation (CHMI) via merger, expected to enhance scale, expand the equity capital base, and drive cost synergies. Declared a fully covered common dividend of $0.24 per share and maintained preferred stock dividends, while holding $111.6 million in total liquidity against a $7.7 billion investment portfolio. Management highlighted a disciplined leverage profile and consistent capital rotation into high-returning residential credit strategies despite a challenging interest rate environment.

2. Aug 10, 2026, 7:00 AM ET·CHMI·Real Estate

   Cherry Hill Mortgage Investment Corporation — Second Quarter 2026 Earnings Summary

   CHERRY HILL MORTGAGE INVESTMENT CORP

   GAAP net income turned positive at $1.3 million ($0.04/share) versus a $1.9 million loss in Q1 2026; Earnings Available for Distribution (EAD) rose to $5.5 million ($0.15/share) from $5.3 million, while net interest income increased to $4.7 million. The Board unanimously approved a definitive merger agreement to be acquired by TPG Mortgage Investment Trust, Inc. (MITT) for an implied value of $117.5 million, offering 0.3063 MITT shares plus $0.93 cash per share, representing a 29% premium to the August 7 closing price. The merger is expected to close in Q4 2026 subject to approvals; consequently, the company will not host its scheduled earnings webcast or conference call. A regular common dividend of $0.10 per share was declared for Q2 2026, resulting in an annualized yield of 16.6% based on the August 7 closing price, with preferred dividends also paid. Portfolio leverage stood at 5.02x with $52.1 million in unrestricted cash; the MSR portfolio carried $15.2 billion in unpaid principal balance, while the RMBS portfolio held a $1.1 billion book value.

3. Aug 10, 2026, 6:30 AM ET·JBGS·Real Estate

   JBG SMITH — Second Quarter 2026 Earnings Summary

   JBG SMITH PROPERTIES

   Reported a net loss of $59.2 million ($1.03/share) for Q2 2026, widening from $19.2 million ($0.29/share) in the prior year, while Funds From Operations (FFO) rose to $12.5 million ($0.21/share) from $10.0 million ($0.15/share). Core FFO declined to $10.4 million ($0.18/share) from $12.7 million ($0.19/share) year-over-year; Annualized NOI increased 1.3% quarter-over-quarter to $249.2 million, though Same Store NOI fell 4.0% year-over-year to $54.8 million. Net Debt to Annualized Adjusted EBITDA stands at 12.4x with $74.8 million in cash and $526.2 million of undrawn credit facility capacity; the company plans to fund growth via asset sales and joint ventures while prioritizing capital allocation discipline. Management anticipates leverage moderation as new multifamily assets stabilize and office leasing demand in National Landing strengthens, supported by a pipeline of over 300,000 square feet and strong defense/tech sector activity. A court entered judgment against the company for approximately $356.1 million regarding the Wardman Tower litigation; the company intends to appeal vigorously and does not currently recognize a loss as probable, though the outcome remains uncertain.

4. Aug 7, 2026, 4:15 PM ET·STHO·Real Estate

   Star Holdings — Q2 2026 Earnings Summary

   STAR HOLDINGS

   Reported Q2 2026 net income of $41.4 million and EPS of $3.43, driven by a $29.3 million non-cash mark-to-market gain on SAFE shares and $14.4 million in deferred non-cash income from asset surrender. Portfolio strategy centers on active management and monetization of interests in the Asbury Park Waterfront and Magnolia Green projects, alongside commercial real estate assets and SAFE Inc. shares. No revenue, cash flow, debt, or year-over-year growth figures were disclosed in the press release; no specific guidance changes, M&A activity, or capital-return announcements were reported.

5. Aug 7, 2026, 4:10 PM ET·SELF·Real Estate

   Global Self Storage — Second Quarter 2026 Earnings Summary

   GLOBAL SELF STORAGE INC

   Q2 2026 net income rose 24.9% to $830,000 ($0.07/share) on 0.6% revenue growth to $3.2 million, while FFO and AFFO declined to $0.09/share from $0.10/share due to an 8.1% increase in same-store operating costs. Management expects employment costs to normalize and plans to fund acquisitions, joint ventures, and expansion projects in select markets with limited supply growth using $24.9 million in total capital resources. Operational highlights include maintaining 94.7% same-store occupancy, achieving a record 3.6-year average tenant duration, and launching a new AI-based virtual agent call center to support revenue management. The company maintained its quarterly dividend at $0.0725 per share (annualized $0.29) and reported a 3.8 percentage point occupancy increase to 94.3% at its Lima, Ohio property following a conversion of student housing space.

6. Aug 7, 2026, 9:38 AM ET·CBL·Real Estate

   CBL Properties — Second Quarter 2026 Earnings Summary

   CBL & ASSOCIATES PROPERTIES INC

   Net income attributable to common shareholders surged to $45.4 million ($1.47 per share) for Q2 2026 from $2.6 million ($0.08 per share) in the prior year period, while FFO per diluted share rose to $1.93 from $1.48; total revenues reached $146.5 million for the quarter, up from $140.9 million year-over-year. Full-year 2026 guidance was raised, with adjusted FFO per share increased to a range of $7.15–$7.25 and same-center NOI guidance lifted to $389.2–$395.0 million, reflecting a 1.5% increase in same-center NOI for the quarter. The portfolio occupancy rate improved to 90.4% as of June 30, 2026, driven by robust leasing activity of nearly 1.3 million square feet in Q2, though four loans totaling approximately $189.6 million remain in resolution processes involving sale, foreclosure, or conveyance. Strategic capital activities included the $634 million legacy term loan refinancing in March, the sale of Hammock Landing for $26.0 million in net proceeds, and a Q3 2026 dividend declaration of $0.625 per share ($2.50 annualized).

7. Aug 7, 2026, 8:15 AM ET·RHP·Real Estate

   Ryman Hospitality Properties, Inc. — Second Quarter 2026 Earnings Summary

   RYMAN HOSPITALITY PROPERTIES INC

   Consolidated revenue reached a record $749.0 million (+13.6% YoY), while net income rose 34.5% to $102.1 million and Adjusted EBITDAre increased 21.9% to $258.3 million. The Company raised full-year 2026 guidance midpoints across all key metrics, including consolidated operating income ($550.4M vs. $542.1M prior) and Adjusted EBITDAre ($894.0M vs. $883.0M prior), citing strong Hospitality performance. Capital expenditure expectations for 2026 were increased to a range of $400–$500 million, up from the previous $350–$450 million estimate. The Entertainment segment delivered record Adjusted EBITDAre of $43.9 million (+29.5% YoY), and the Company continues to evaluate strategic options for greater independence of Opry Entertainment Group (OEG).

8. Aug 7, 2026, 7:16 AM ET·DOUG·Real Estate

   Douglas Elliman Inc. — Second Quarter 2026 Earnings Summary

   DOUGLAS ELLIMAN INC

   Q2 2026 revenues rose 4.5% YoY to $283.4 million (8.6% on a comparable basis excluding property management), while six-month revenues declined 5.1% to $497.8 million due to a strong 2025 comparable; Q2 net loss narrowed to $2.7 million ($0.03/share) from $22.7 million ($0.27/share) in the prior year. Gross Transaction Value (GTV) increased 5.9% to $10.8 billion in Q2 2026, driven by a 5.9% rise in average transaction price to $1.86 million, though six-month GTV fell 3.5% to $19.4 billion. The company maintains a strong balance sheet with $105.2 million in cash and no long-term debt, following the October 2025 disposal of its property management business which generated a $408,000 gain in Q2. Strategic initiatives include the launch of "Elius" powered by Google Cloud, a company-wide AI transformation aimed at reducing non-commission operating expenses, and geographic expansion into California, Texas, New Hampshire, and France. Management projects a development marketing pipeline of $26.1 billion for the second half of 2026, with an additional $9.7 billion scheduled to come to market through September 2027.

9. Aug 6, 2026, 5:20 PM ET·RLJ·Real Estate

   RLJ Lodging Trust — Second Quarter 2026 Earnings Summary

   RLJ LODGING TRUST

   Total revenue for the quarter rose 5.5% YoY to $382.988 million, while net income increased 9.4% to $31.328 million; full-year 2026 guidance was raised across comparable RevPAR (+3.5% to +4.5%), EBITDA ($369M–$389M), and Adjusted FFO per share ($1.37–$1.50). The company executed capital management actions including the sale of a Fremont, California hotel for $13.2 million and the full repayment of $500.0 million in Senior Notes due 2026 using proceeds from new term loans and cash on hand. Portfolio performance was driven by broad-based demand acceleration in business and urban leisure segments, resulting in a 6.8% Comparable RevPAR increase in Q2 and the relaunch of an Autograph Collection asset in Pittsburgh. The Board declared quarterly cash dividends of $0.15 per common share and $0.4875 per Series A Preferred share, while total debt remains at $2.695 billion with maturities not due until 2029.

10. Aug 6, 2026, 5:12 PM ET·RC·Real Estate

    Ready Capital Corporation — Second Quarter 2026 Earnings Summary

    READY CAPITAL CORP

    Reported a GAAP net loss of $99.683 million ($0.63 per share) for Q2 2026, widening from a $53.677 million loss ($0.34 per share) in the prior year period, driven by a $21.554 million provision for loan losses and $41.234 million in realized losses on investment sales. Total assets declined to $6.264 billion and cash equivalents fell to $124.149 million as of June 30, 2026, while the company retired $184 million of corporate debt and paid down over $1 billion in asset-level financing year-to-date. Management indicated that book value reduction is decelerating and earnings pressure is narrowing, with a strategic focus on meeting fourth-quarter debt maturities and restarting growth in core CRE debt and SBA 7(a) lending businesses. Generated $1.4 billion in cash year-to-date from loan sales and portfolio runoff; the securitization of $158.2 million in unguaranteed SBA 7(a) loans created $500 million in additional funding capacity. Dividends declared were $0.01 per share, down from $0.125 in the prior year period, while total loan originations for the quarter reached $278.8 million.

11. Aug 6, 2026, 4:41 PM ET·HASI·Real Estate

    HA Sustainable Infrastructure Capital, Inc. — Second Quarter 2026 Earnings Summary

    HA SUSTAINABLE INFRASTRUCTURE CAPITAL INC

    GAAP EPS rose to $0.92 and Adjusted EPS to $0.75 in Q2 2026, up from $0.74 and $0.60 respectively in Q2 2025, driven by a 26% increase in Adjusted Recurring Net Investment Income to $107.0 million. The company raised 2028 Adjusted EPS guidance to $3.55–$3.65 (from $3.50–$3.60) and maintained an Adjusted ROE target above 17.0%, while noting a strategic shift to reduce dividend payout ratios to under 50% of Adjusted EPS by 2028. Total debt increased to $5.9 billion with a weighted-average interest cost of 6.2%, though liquidity remains robust at $2.2 billion, supported by a $425 million revolver capacity increase in July 2026 and a $1 billion unsecured note issuance. Managed Assets grew 20% year-over-year to $17.6 billion, with a pipeline exceeding $6.5 billion and new transaction yields underwritten above 11%, despite a $70 million GAAP impairment loss on two Equity Method Investments.

12. Aug 6, 2026, 4:26 PM ET·ONL·Real Estate

    Orion Properties Inc. — Second Quarter 2026 Earnings Summary

    ORION PROPERTIES INC

    Reported Q2 2026 net income of $24.6 million ($0.43 basic EPS) compared to a $25.1 million loss in the prior year, driven by $27.9 million in gains on dispositions and reduced impairment charges, while total revenue declined 8% to $34.3 million. Raised 2026 Core FFO per share guidance to $0.72–$0.77 and lowered Net Debt to Adjusted EBITDA guidance to 6.0x–6.8x, alongside a $60.7 million reduction in debt obligations during the quarter. Completed sales of four properties and the Deerfield campus for $70.6 million in Q2 and executed 202,000 square feet of leasing, while shifting portfolio strategy away from traditional office toward Dedicated Use Assets. Recorded a full write-down of its investment in the Unconsolidated Joint Venture to zero following a mortgage payment default and subsequent default notice, with no further losses recognized until the venture generates net income. Announced a $0.02 per share quarterly dividend for Q3 2026 and confirmed an ongoing strategic options review process that includes potential acquisition, merger, or sale of the company.

13. Aug 6, 2026, 4:25 PM ET·WHLR·Real Estate

    Wheeler Real Estate Investment Trust, Inc. — Second Quarter 2026 Earnings Summary

    WHEELER REAL ESTATE INVESTMENT TRUST INC

    The Company announced financial and operating results for the three and six months ended June 30, 2026, and filed its Quarterly Report on Form 10-Q with the SEC. Wheeler Real Estate Investment Trust, Inc. operates as a fully integrated, self-managed commercial REIT headquartered in Virginia Beach, Virginia. The Company's portfolio consists of income-producing retail properties with a primary focus on grocery-anchored centers. Supplemental financial and operating information is available on the Company's investor relations website.

14. Aug 6, 2026, 4:22 PM ET·PK·Real Estate

    Park Hotels & Resorts Inc. — Second Quarter 2026 Earnings Summary

    PARK HOTELS & RESORTS INC

    Park reported a return to profitability with net income of $50 million and diluted EPS of $0.24 for Q2 2026, compared to a net loss of $2 million and a loss of $0.02 per share in the prior year period; Adjusted EBITDA rose 8.6% year-over-year to $198 million. The company raised its full-year 2026 guidance across all key metrics, including Adjusted EBITDA ($617–$637 million) and Diluted Adjusted FFO per share ($1.90–$2.00), citing second-quarter outperformance and strong third-quarter momentum. Strategic execution included the exit of four Non-Core assets generating $65 million in gross proceeds and the declaration of $0.25 per share dividends for Q2 and Q3, while maintaining $2.6 billion in liquidity to address $1.3 billion in near-term debt maturities. Core portfolio performance remained robust with Core RevPAR up 6.0% year-over-year, driven by strong group demand and high-performing assets, despite a 110 basis point drag from the Royal Palm renovation.

15. Aug 6, 2026, 4:18 PM ET·CTRE·Real Estate

    CareTrust REIT — Second Quarter 2026 Earnings Summary

    CARETRUST REIT INC

    Reported net income of $0.38 per share (up 9% YoY) and Normalized FFO/FAD of $0.51 per share (up 19% YoY), driven by total revenues of $161.3 million compared to $112.5 million in the prior year quarter. Increased 2026 full-year guidance to net income of $1.53–$1.56 per share, Normalized FFO of $2.03–$2.06 per share, and Normalized FAD of $2.01–$2.04 per share, with midpoints representing 16.2% and 15.1% increases over 2025 results. Maintained a fortress balance sheet with Net Debt to Annualized Normalized Run Rate EBITDA at 1.01x (down from 2.0x YoY), no debt maturities due prior to 2028, and $605 million available under a $1.2 billion revolving credit facility. Executed $899.6 million in investment activity during the quarter at an 8.9% blended stabilized yield, with $307.9 million of additional investments closed post-quarter end at 7.8%. Declared a quarterly dividend of $0.39 per share (approx. 76% payout ratio of Normalized FFO/FAD) and generated $578.2 million in gross proceeds from forward equity offerings and $363.6 million from ATM Program settlements.

16. Aug 6, 2026, 4:17 PM ET·AHR·Real Estate

    American Healthcare REIT — Second Quarter 2026 Earnings Summary

    AMERICAN HEALTHCARE REIT INC

    GAAP net income attributable to controlling interest rose to $30.6 million ($0.16 per diluted share) from $9.9 million ($0.06 per diluted share) in the prior year period, while Normalized Funds From Operations (NFFO) increased to $0.54 per diluted share from $0.42. The company raised full-year 2026 guidance across all key metrics, including NFFO per share ($2.15–$2.19), Net income per share ($0.54–$0.58), and Total Portfolio Same-Store NOI growth (11.0%–13.0%). Strategic capital deployment included $126.9 million in new SHOP acquisitions during the quarter and $1.4 billion in total investments since the start of 2026, with an additional $1.0 billion in SHOP assets acquired subsequent to quarter end. Financial strength improved with Net Debt-to-Annualized Adjusted EBITDA declining to 2.5x from 3.0x, supported by $2.6 billion in total liquidity and an amended credit facility increasing the unsecured revolving capacity to $800 million. Capital markets activity involved $1.18 billion in share issuances subsequent to quarter end to settle forward sale agreements, alongside a declared cash distribution of $0.25 per share for the quarter.

17. Aug 6, 2026, 4:15 PM ET·BFS·Real Estate

    Saul Centers, Inc. — Second Quarter 2026 Earnings Summary

    SAUL CENTERS INC

    Total revenue increased 8.5% year-over-year to $76.8 million for the quarter and 8.7% to $155.1 million for the six months, driven by 6.9% and 7.2% growth in same-property revenue, respectively. Net income available to common stockholders declined 24.1% to $6.0 million ($0.24/share) for the quarter and 17.3% to $12.3 million ($0.50/share) for the six months, primarily due to $4.0 million and $8.8 million in initial operating costs from the new Hampden House property. Funds from operations (FFO) per share decreased 5.5% to $0.69 for the quarter and 2.8% to $1.40 for the six months, though FFO excluding Hampden House increased by $1.8 million and $5.6 million, respectively, driven by higher base rents. Balance sheet activity included a reduction in revolving credit facility debt to $85.3 million (from $144.7 million) offset by increases in mortgage notes payable to $1,108.0 million and construction loans to $271.8 million. No forward guidance was provided; management noted that excluding the new Hampden House development, performance was driven by higher residential and commercial base rents.

18. Aug 6, 2026, 4:11 PM ET·RMAX·Real Estate

    RE/MAX Holdings, Inc. — Second Quarter 2026 Earnings Summary

    RE/MAX HOLDINGS INC

    Total revenue declined 5.8% year-over-year to $68.5 million, while the company reported a net loss of $4.3 million ($0.20 per diluted share) compared to a net income of $4.7 million ($0.23 per diluted share) in the prior-year period. Adjusted EBITDA fell 12.6% to $22.9 million and Adjusted EPS dropped to $0.32 from $0.39, driven by a 14.1% increase in total operating expenses largely due to $11.5 million in merger transaction costs. The company announced a definitive agreement to be acquired by The Real Brokerage Inc. for a combined entity closing in the second half of 2026, with shareholders offered an election of 5.15 shares or $13.80 cash per share. Guidance and quarterly earnings calls have been suspended pending the merger, which is subject to shareholder approval on August 14, 2026, and regulatory approvals. Organic revenue growth was negative 5.1% due to fee model modifications and a 5.0% decline in U.S. agent count, though total global agent count rose 1.5% to 149,267.

19. Aug 6, 2026, 4:04 PM ET·CLPR·Real Estate

    Clipper Realty Inc. — Second Quarter 2026 Earnings Summary

    CLIPPER REALTY INC

    Total revenues declined 1% to $38.6 million year-over-year, driven by a 36% drop in commercial revenue to $6.4 million following the termination of the NYC lease at 250 Livingston Street, which was partially offset by a 11% increase in residential revenues to $32.2 million. Net loss widened significantly to $6.3 million ($0.19 per share) from $1.4 million in Q2 2025, with Adjusted Funds from Operations (AFFO) falling to $3.8 million ($0.09 per share) from $8.3 million, largely due to a $5.8 million non-cash impact from the 250 Livingston Street lease termination. Management reported strong residential performance with new free market leases exceeding prior rents by 13% and renewals by over 5%, while the new Prospect House property was fully leased as of June 30, 2026. Strategic progress was made on the distressed 250 Livingston Street asset, with the Company and lender entering a Consent and Cooperation Agreement in June 2026 to jointly market the loan, though risks regarding potential foreclosure or deed transfer remain. The Company declared a stable quarterly dividend of $0.095 per share, while cash and cash equivalents increased to $37.7 million and total stockholders' equity deficit widened to $40.1 million as of June 30, 2026.

20. Aug 6, 2026, 1:44 PM ET·ARL·Real Estate

    American Realty Investors, Inc. — Q2 2026 Earnings Summary

    AMERICAN REALTY INVESTORS INC

    Reported a net loss of $1.0 million ($0.06/share) for Q2 2026, a significant reversal from the $2.8 million net income ($0.18/share) recorded in the same period in 2025. Total revenue rose $0.7 million to $12.9 million year-over-year, driven by lease-up activity in development properties and increased occupancy at Stanford Center, though net operating loss widened to $2.5 million from $1.0 million. Operating expenses increased $1.6 million to $15.4 million primarily due to lease-up properties, while interest income declined $0.5 million to $2.8 million. Generated $1.0 million in proceeds from selling 21 lots at Windmill Farms, resulting in a $0.8 million gain, while total portfolio occupancy stood at 81% (93% multifamily, 58% commercial). No specific guidance changes, M&A activity, or capital-return announcements were disclosed in the provided summary.

21. Aug 6, 2026, 1:41 PM ET·TCI·Real Estate

    Transcontinental Realty Investors, Inc. — Q2 2026 Earnings Summary

    TRANSCONTINENTAL REALTY INVESTORS INC

    Reported a net loss of $1.1 million ($0.13/share) for Q2 2026, a significant decline from net income of $0.2 million ($0.02/share) in the prior year period, while total revenue rose $0.7 million to $12.9 million. Net operating loss widened to $2.3 million from $0.8 million year-over-year, driven by a $1.6 million increase in operating expenses primarily related to lease-up properties. Revenue growth was fueled by a $0.5 million increase in multifamily properties due to development lease-ups and a $0.2 million rise in commercial properties from higher occupancy at Stanford Center. Stabilized property occupancy stood at 81% (93% multifamily, 58% commercial) as of June 30, 2026, with development properties at Alera, Bandera Ridge, and Merano ranging between 77% and 86%. The company recorded a $0.8 million gain on the sale of 21 lots at Windmill Farms for $1.0 million, while interest income decreased $0.8 million and interest expense increased $1.0 million.

22. Aug 6, 2026, 7:35 AM ET·SUNS·Real Estate

    Sunrise Realty Trust, Inc. — Second Quarter 2026 Earnings Summary

    SUNRISE REALTY TRUST INC

    GAAP net income declined 8.8% year-over-year to $3.1 million ($0.23/share) for Q2 2026, while Distributable Earnings fell 4.9% to $3.9 million ($0.29/share); however, six-month Distributable Earnings rose 14.7% to $8.6 million ($0.65/share) compared to $7.5 million in H1 2025. Distributable Earnings exceeded declared dividends for both the quarter ($0.29 vs. $0.30/share paid) and the first six months ($0.65 vs. $0.60/share), with the full repayment of the Panther National investment reinforcing the company's exit capabilities. Management anticipates continued strong demand for flexible capital due to elevated interest rates constraining senior debt capacity, maintaining a selective approach to capital deployment focused on top-tier assets in Southern U.S. markets. The entire loan portfolio remains current as of the reporting date, with no adjustments for depreciation, amortization, or one-time events recorded during the periods presented.

23. Aug 6, 2026, 7:35 AM ET·SHO·Real Estate

    Sunstone Hotel Investors, Inc. — Second Quarter 2026 Earnings Summary

    SUNSTONE HOTEL INVESTORS INC

    Net income attributable to common stockholders rose to $26.0 million ($0.14/share) in Q2 2026 from $6.8 million ($0.03/share) in the prior year, while Adjusted EBITDAre increased 5.5% to $76.7 million and RevPAR grew 9.3% to $263.61. The company raised full-year 2026 guidance across all key metrics, including Net Income to $79–$89 million (from $34–$48 million), RevPAR growth to 7.0–9.0%, and Adjusted FFO per share to $0.93–$0.98. Strategic capital allocation included the July 30 sale of the Hyatt Regency San Francisco for $279 million, $32.2 million in Q2 stock repurchases, and a subsequent $25.0 million repayment of revolving credit facility debt. Future outlook remains positive despite Q1 2026 severe weather damage to Wailea Beach Resort, with the company expecting insurance reimbursement for the majority of restoration costs and Andaz Miami Beach to contribute 450 basis points to full-year RevPAR growth.

24. Aug 6, 2026, 7:15 AM ET·FVR·Real Estate

    FrontView REIT — Second Quarter 2026 Earnings Summary

    FRONTVIEW REIT INC

    Revenue and net income turned positive for the quarter, reaching $18.005 million and $1.517 million respectively, compared to $17.554 million revenue and a $4.530 million loss in the prior year period; FFO and AFFO also increased year-over-year to $0.26 and $0.33 per share. Management raised 2026 AFFO per share guidance to $1.32–$1.34 (implying 7% growth) and increased net investment guidance to approximately $120.0 million, citing a fully funded balance sheet through 2027. The company deployed capital by acquiring 17 properties for $58.2 million and sold 10 properties for $22.9 million, while raising approximately $50.5 million in gross proceeds via equity offerings. The Board authorized a quarterly dividend of $0.215 per common share and OP unit payable October 15, 2026, with total liquidity standing at $208.2 million as of June 30, 2026.

25. Aug 6, 2026, 7:06 AM ET·SDHC·Real Estate

    Smith Douglas Homes — Q2 2026 Earnings Summary

    SMITH DOUGLAS HOMES CORP

    Home closing revenue and volume grew 22% and 25% year-over-year to $273.0 million and 839 units, respectively, while net new orders surged 32% to 970. Gross margin contracted to 17.6% from 23.2% and pretax income fell to $1.9 million from $17.2 million, primarily due to $7.6 million in inventory impairment and lot option abandonment charges. Net cash provided by operating activities turned positive at $4.85 million for the six months ended June 30, 2026, compared to $63.85 million used in the prior year period. Management reaffirmed confidence in the operating model and land-light strategy, citing strong underlying demand despite affordability challenges and macroeconomic uncertainty. The company repurchased $4.4 million of Class A common stock (312,351 shares) and increased its active community count by 20% to 110.