In this article, we will take a look at the 5 high growth real estate stocks that are profitable. To see more such companies, go directly to 12 High Growth Real Estate Stocks that are Profitable.
5. Life Storage, Inc. (NYSE:LSI)
Number of Hedge Fund Holders: 27
New York-based Life Storage, Inc. (NYSE:LSI) invests in self-storage units. Life Storage, Inc. (NYSE:LSI) is in the limelight after the company received an unsolicited $11 billion acquisition offer from Public Storage.
In November, Life Storage, Inc. (NYSE:LSI) posted its third-quarter results. Life Storage, Inc. (NYSE:LSI)’s FFO in the third quarter came in at $1.73, beating estimates by $0.07. Revenue in the quarter increased by 31.1% on a YoY basis to total $272.95 million, beating estimates by $7.75 million. Life Storage, Inc. (NYSE:LSI) said its same store revenue increased by about 14.9% while its same store net operating income saw an increase on 18.4% on a YoY basis.
4. Realty Income Corporation (NYSE:O)
Number of Hedge Fund Holders: 28
Realty Income Corporation (NYSE:O) is perhaps one of the most famous dividend stocks in the market. It’s a monthly dividend-paying company that has upped its dividends for 27 years without a break. During the third quarter of 2022, Realty Income Corporation (NYSE:O)’s revenue grew by about 71% to come in at $837.3 million, beating estimates by $27.03 million. FFO in the quarter came in at $0.98, missing estimates by $0.01. As of the end of the third quarter, Realty Income Corporation (NYSE:O)’s portfolio had 11,733 properties. Its portfolio occupancy was 98.9%.
In December, it declared a $0.248 per share monthly dividend. The dividend showed a 0.2% increase from the prior dividend of $0.248.
Hedge funds also piled into this monthly dividend stock in 2022 amid recession fears. A total of 28 hedge funds among the 920 elite funds tracked by Insider Monkey had stakes in Realty Income Corporation (NYSE:O) at the end of the third quarter of 2022, up from 19 funds in the previous quarter.
3. VICI Properties Inc. (NYSE:VICI)
Number of Hedge Fund Holders: 33
VICI Properties Inc. (NYSE:VICI) is one of the high-yield dividend stocks in the real estate industry that has been posting strong revenue growth despite headwinds in the market. For the third quarter, VICI Properties Inc. (NYSE:VICI)’s FFO came in at $0.49, missing estimates by $0.08. Revenue in the quarter came in at $751.5 million, which was up a whopping 100% from the comparable quarter last year. This revenue metric also beat estimates by $13.27 million. VICI Properties Inc. (NYSE:VICI) said that its AFFO for the year ending December 31, 2022, will come in between $1,682.0 million and $1,692.0 million, or between $1.91 and $1.92 per diluted common share, versus the consensus of $1.59. VICI Properties Inc. (NYSE:VICI) also declared a dividend of $0.39 per share, which shows an 8.3% year-over-year increase.
As of the end of the third quarter of 2022, 33 hedge funds tracked by Insider Monkey reported owning shares in VICI Properties Inc. (NYSE:VICI). The total worth of these stakes was over $308 million.
2. Camden Property Trust (NYSE:CPT)
Number of Hedge Fund Holders: 36
Camden Property Trust (NYSE:CPT) is a Texas-based REIT that focuses on apartments. For the fourth quarter, Camden Property Trust (NYSE:CPT)’s revenue came in at $375.91 million, compared to $305.36 million posted in the fourth quarter of 2021. However, the revenue figure missed analysts’ consensus estimate of $376.22 million. FFO in the fourth quarter came in at $1.74, missing estimates of $1.75.
Earlier in February, Camden Property Trust (NYSE:CPT) declared a dividend of $1.00 per share, which was a 6.4% increase from prior dividend of $0.94. Forward dividend yield came in at about 3.17%. The dividend is payable on April 17 to shareholders of record as of March 31.
1. Prologis, Inc. (NYSE:PLD)
Number of Hedge Fund Holders: 59
California-based REIT Prologis, Inc. (NYSE:PLD) ranks 1st in our list of the 12 high growth real estate stocks that are profitable. Recently, Prologis, Inc. (NYSE:PLD) posted its fourth-quarter results. Prologis, Inc. (NYSE:PLD) said its FFO in the fourth quarter came in at $1.24, beating estimates by $0.03. Revenue in the quarter totaled $1.75 billion, beating estimates by $290 million. The revenue figure shows a growth of about 37% on a year-over-year basis. Average occupancy came in at 98%. For 2023, Prologis, Inc. (NYSE:PLD) expects its core FFO to come in at $5.40 to $5.50, versus the consensus of $5.56. Average occupancy was guided at 96.5% to 97.5%.
During the third quarter of 2022, Prologis, Inc. (NYSE:PLD) saw a spike in hedge fund sentiment. Insider Monkey’s database shows that 59 hedge funds reported owning stakes in Prologis, Inc. (NYSE:PLD) at the end of the September quarter, up from 49 funds in the previous quarter.
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