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Marwest Apartment REIT Announces Q3 Results

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ WINNIPEG, MB, Nov. 24, 2021 /CNW/ - Marwest Apartment Real Estate Investment Trust ("Marwest Apartment REIT" or the "REIT") (TSXV:MAR) reported financial results for the third quarter ended September 30, 2021. The Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis ("MD&A") for Q3 2021 and the nine months ended September 30, 2021 are available on the REIT's website at www.marwestreit.com and at www.sedar.com. Q3 2021 Highlights Adjusted funds from operations ("AFFO") of $0.04 per unit for the nine months ended September 30, 2021 Generated net property operating income ("NOI") of $1,206,553 since the acquisition of 251 units (the "Qualifying Transaction") on April 30, 2021 NOI margin of 62.44% for the nine months ended September 30, 2021 Occupancy rate of 98.77% since the Qualifying Transaction Average monthly rent per suite to September 30, 2021 of $1,512 Mr. William Martens, Chief Executive Officer and Trustee commented "We are very pleased to have completed our first full quarter of operations with our initial portfolio.  Since Q3 we have completed the purchase of an additional 112 rental units with the closing of the Element acquisition on November 15, 2021." Operations Summary Portfolio Operational Information As at September 30, 2021 Number of properties 2 Number of suites 251 Average Occupancy Rate to date 98.77% Average rental rate to date $1,512 Financial Summary Period ended September 30, 2021 Property revenue $ 1,932,200 Net property operating income 1,206,553 Net income 4,855,259 FFO.....»»

Category: earningsSource: benzingaNov 24th, 2021

Homesick makes candles inspired by your city, state, or favorite experiences, and they make for a really sentimental gift idea

Homesick Candles are especially great gifts for college kids, frequent travelers, or anyone missing home. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Homesick Nothing can replace the feeling of home, but a scented candle from Homesick might be close. Homesick makes candles that smell like the 50 states, big cities, and being in your mom's house. In our experience, they don't smell exactly like "home" but still make a thoughtful gift. Homesick Candles$19.00 FROM HOMESICKHomesick Reed Diffuser$39.00 FROM HOMESICKScent is very closely tied to memory. When you smell cookies baking in the oven, you might feel like you're back in your grandma's kitchen decorating cookies with icing and sprinkles. But what about the scents of more abstract things like "home" and even geographic locations like New York? Homesick candles range from the hilarious to the sentimental, with unique scents that may not smell exactly like home, but perhaps an idealized version of it.What are Homesick candles?Candle company Homesick polled people around the US to find out what home smelled like to them to develop customized scents for each city and state, as well as experiences. The results range from the celebratory — like Let's Toast, which includes citrus and Champagne grapes — to the more sentimental — like Love Letters, which includes notes of rose, jasmine, sandalwood, peony, red plum, and lemon.Each candle is made from all-natural soy wax, which is then hand-poured into a glass container. The simple black-and-white labels let you know what candle you're smelling. The candles come in cute, colorful packaging, making them ready to gift to anyone who wants a whiff of nostalgia in their home away from home.The company also makes candles for astrology signs to Star Wars planets.Homesick's candles are reasonably priced starting at $19, and orders over $50 will get free shipping.What Homesick candles actually smell likeHomesick New York City Candle$34.00 FROM HOMESICK$34.00 FROM AMAZONWe tested a few of its candles and found that some of the scents transported us "home," while others smelled lovely but not quite like the places we imagined. Here are our team's thoughts on each candle we tried. New York City candleAs denizens of New York City, the Insider Reviews team typically remembers the malodorous smells we catch a whiff of on the street rather than the candle's idealistic "scents of spring days in Central Park, fine department stores, and concrete."Senior reporter Mara Leighton said it best when she described the candle as "what New York smells like in your dreams before you actually move here." The candle smells a lot like Macy's in Herald Square and is infinitely preferable to the iffy smell of the city streets and the subway.When I burned the NYC candle in my apartment, it smelled amazing. The gentle scent made my entire apartment smell great, and it burned evenly.United Kingdom candleSenior home & kitchen editor Lauren Savoie purchased the United Kingdom candle after a bout of nostalgia for her time living across the pond. The candle is advertised as smelling like bergamot, grass, rain, Earl Grey tea, apple crumb, toffee, vanilla, and sugar. While the candle smelled pleasant, it didn't exactly smell like how she imagined. "This one was much more sweet than it was hoppy or grassy like I imagine the UK to be. While it was lovely to burn, I can't say it transported me back to my days stomping down London's streets," she said.Ski Trip candleFormer health & fitness editor Rachel Shultz owns the Ski Trip candle, with notes of frosted air, cocoa, and warm amber. "As someone who lives in a ski town, it didn't smell distinctly themed to me (but what does snow and fun smell like?), but it does smell delicious regardless," she said.Let's Toast candleStory production manager Francesca Rea owns the Let's Toast candle, which is packed with citrusy Champagne notes. "I actually really liked the scent, but I did think it was pretty strong," she said. Some might find it a bit overpowering. We think this candle would make a great gift for anyone celebrating a special milestone like an engagement or promotion.New Mexico candleFormer travel editor Hannah Freedman is a New Mexico native, and while she enjoyed the smell of this candle, it didn't quite hit all the marks of home. ("Where is the juniper or pinon??")South Dakota candleThis one was the biggest miss of the candles our team tried, with Freedman reporting it smells "like soap," and not in a good way.Flameless optionsHomesick Reed Diffuser$39.00 FROM HOMESICKIf you don't like candles because of the fire risk, you may prefer Homesick's reed diffuser. The glass bottle has four ounces of essential oils that saturate reeds for a lovely scent, and you can choose from several different Homesick oils that smell the same as the brand's candles.Should you buy Homesick candles?HomesickWhile not all of us felt a sense of nostalgia associated with the Homesick candles we tried, we still think they make excellent gifts. Scent is deeply personal, and what smells like home to one person may not to another.What we particularly like about Homesick candles is the sentiment they convey. Selecting a scent specifically for your giftee that acknowledges their current circumstances feels much more personal than choosing a generic candle.Senior story producer Francesca Rea gifted a Connecticut candle to a friend stationed in Germany when he missed his first Christmas at home and reports he was really moved by the sentiment. Even if the candle's scent doesn't transport your giftee home, the simple act of receiving such a curated gift will make them feel a connection to the place they're missing.What are your alternatives?We've put together a full guide to the best places to buy candles. If you're looking for transporting scents in particular, we recommend checking out Otherland candles. The bottom lineAt $34, Homesick candles are reasonably priced so you can gift them for every occasion. College students and those who are just getting started in a new city or state will love the nostalgia factor, and anyone who likes candles will appreciate how well made they are.Shop all Homesick candles and diffusers.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 5th, 2022

Homesick candles might not smell exactly like home, but they make great gifts for anyone adjusting to a new city

Homesick makes candles inspired by your city, state, or favorite experiences. They're great gifts for college kids, travelers, or anyone missing home. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Homesick Nothing can replace the feeling of home, but a scented candle from Homesick might be close. Homesick makes candles that smell like the 50 states, big cities, and being in your mom's house. In our experience, they don't smell exactly like "home" but still make a thoughtful gift. Homesick Candles$19.00 FROM HOMESICKHomesick Reed Diffuser$39.00 FROM HOMESICKScent is very closely tied to memory. When you smell cookies baking in the oven, you might feel like you're back in your grandma's kitchen decorating cookies with icing and sprinkles. But what about the scents of more abstract things like "home" and even geographic locations like New York? Homesick candles range from the hilarious to the sentimental, with unique scents that may not smell exactly like home, but perhaps an idealized version of it.What are Homesick candles?Candle company Homesick polled people around the US to find out what home smelled like to them to develop customized scents for each city and state, as well as experiences. The results range from the celebratory — like Let's Toast, which includes citrus and Champagne grapes — to the more sentimental — like Love Letters, which includes notes of rose, jasmine, sandalwood, peony, red plum, and lemon.Each candle is made from all-natural soy wax, which is then hand-poured into a glass container. The simple black-and-white labels let you know what candle you're smelling. The candles come in cute, colorful packaging, making them ready to gift to anyone who wants a whiff of nostalgia in their home away from home.The company also makes candles for astrology signs to Star Wars planets.Homesick's candles are reasonably priced starting at $19, and orders over $50 will get free shipping.What Homesick candles actually smell likeHomesick New York City Candle$34.00 FROM HOMESICK$34.00 FROM AMAZONWe tested a few of its candles and found that some of the scents transported us "home," while others smelled lovely but not quite like the places we imagined. Here are our team's thoughts on each candle we tried. New York City candleAs denizens of New York City, the Insider Reviews team typically remembers the malodorous smells we catch a whiff of on the street rather than the candle's idealistic "scents of spring days in Central Park, fine department stores, and concrete."Senior reporter Mara Leighton said it best when she described the candle as "what New York smells like in your dreams before you actually move here." The candle smells a lot like Macy's in Herald Square and is infinitely preferable to the iffy smell of the city streets and the subway.When I burned the NYC candle in my apartment, it smelled amazing. The gentle scent made my entire apartment smell great, and it burned evenly.United Kingdom candleSenior home & kitchen editor Lauren Savoie purchased the United Kingdom candle after a bout of nostalgia for her time living across the pond. The candle is advertised as smelling like bergamot, grass, rain, Earl Grey tea, apple crumb, toffee, vanilla, and sugar. While the candle smelled pleasant, it didn't exactly smell like how she imagined. "This one was much more sweet than it was hoppy or grassy like I imagine the UK to be. While it was lovely to burn, I can't say it transported me back to my days stomping down London's streets," she said.Ski Trip candleFormer health & fitness editor Rachel Shultz owns the Ski Trip candle, with notes of frosted air, cocoa, and warm amber. "As someone who lives in a ski town, it didn't smell distinctly themed to me (but what does snow and fun smell like?), but it does smell delicious regardless," she said.Let's Toast candleStory production manager Francesca Rea owns the Let's Toast candle, which is packed with citrusy Champagne notes. "I actually really liked the scent, but I did think it was pretty strong," she said. Some might find it a bit overpowering. We think this candle would make a great gift for anyone celebrating a special milestone like an engagement or promotion.New Mexico candleFormer travel editor Hannah Freedman is a New Mexico native, and while she enjoyed the smell of this candle, it didn't quite hit all the marks of home. ("Where is the juniper or pinon??")South Dakota candleThis one was the biggest miss of the candles our team tried, with Freedman reporting it smells "like soap," and not in a good way.Flameless optionsHomesick Reed Diffuser$39.00 FROM HOMESICKIf you don't like candles because of the fire risk, you may prefer Homesick's reed diffuser. The glass bottle has four ounces of essential oils that saturate reeds for a lovely scent, and you can choose from several different Homesick oils that smell the same as the brand's candles.Should you buy Homesick candles?HomesickWhile not all of us felt a sense of nostalgia associated with the Homesick candles we tried, we still think they make excellent gifts. Scent is deeply personal, and what smells like home to one person may not to another.What we particularly like about Homesick candles is the sentiment they convey. Selecting a scent specifically for your giftee that acknowledges their current circumstances feels much more personal than choosing a generic candle.Senior story producer Francesca Rea gifted a Connecticut candle to a friend stationed in Germany when he missed his first Christmas at home and reports he was really moved by the sentiment. Even if the candle's scent doesn't transport your giftee home, the simple act of receiving such a curated gift will make them feel a connection to the place they're missing.What are your alternatives?We've put together a full guide to the best places to buy candles. If you're looking for transporting scents in particular, we recommend checking out Otherland candles. The bottom lineAt $34, Homesick candles are reasonably priced so you can gift them for every occasion. College students and those who are just getting started in a new city or state will love the nostalgia factor, and anyone who likes candles will appreciate how well made they are.Shop all Homesick candles and diffusers.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 5th, 2022

Filo Mining Reports Q1 2022 Results; Extends Breccia 41 and Confirms Continuity of Grades within Aurora Zone

VANCOUVER, BC, May 4, 2022 Filo Mining Corp. (TSX:FIL) (Nasdaq First North Growth Market: FIL) (OTCQX:FLMMF) ("Filo Mining" or the "Company") announces its results for the three months ended March 31, 2022. PDF version. HIGHLIGHTS AND OUTLOOK Ongoing 2021/2022 campaign continues to deliver exploration success, extending one of the high-grade breccias, and defining continuity of strong mineralization in the Aurora Zone Jamie Beck, President & CEO, commented, "To date, the 2021/2022 program at Filo del Sol has already returned the best silver intersection ever at the project, extended the high-grade Breccia 41 zone, and demonstrated continuity of strong mineralization within the Aurora Zone. Several holes are currently underway, and four holes have now been completed with assays pending. The completed holes include holes 55C, 57 and 59 which will look to extend the high-grade Breccia 41 mineralization to the north by up to 200m, while hole 60 tests the sparsely drilled area north of Hole 37, potentially expanding the north-south expanse of the deposit significantly.  With the closing of the $100 million, non-brokered private placement to BHP earlier this year, the Company is well funded to ramp up our exploration efforts, and we are excited to embark on our first ever drill program throughout the upcoming South American winter months." On March 11, 2022, the Company closed the sale of 6,270,000 common shares to BHP Western Mining Resources International Pty Ltd, a wholly owned subsidiary of BHP Group Limited (collectively, "BHP"), by way of a non-brokered private placement, at a price of $15.95 per common share for total gross proceeds of $100 million (the "Private Placement") (see news releases dated February 28, 2022 and March 11, 2022). Share issuance costs related to the Private Placement totaled $0.3 million, and comprised of professional fees and regulatory fees. No finder's fee or commissions were payable in connection with the Private Placement. The closing of the Private Placement has provided Filo Mining with valuable operational flexibility as it seeks to expediently and efficiently define the Filo del Sol deposit, which has the potential to be a generational discovery and significant asset in an emerging copper-gold-silver district. As of the date of this News Release, the Company's 2021/2022 drill campaign has been expanded to seven diamond rigs, with an additional reverse circulation ("RC") rig. The RC rig is being used to pre-collar holes in the challenging, intensely altered rock overlying Breccia 41 in order to improve drill productivity and hole completion rates. The Company intends to have these rigs turning through the winter season in South America, thereby operating year-round for the first time in the history of Filo del Sol. In addition, the Company is also reviewing the possibility of adding additional rigs to the program following the South American winter to further expedite advancement of the Filo del Sol project. To date, assays results have been received for five completed holes from the ongoing program, which has already extended the high-grade mineralization of Breccia 41, confirmed the continuity of strong mineralization within the broader Aurora Zone, and served as a reminder of the remarkable metal content of the deposit, which provides optionality for future development and project financing scenarios. Select highlights from the program so far include: FSDH054 intersecting 172m at 3.22% CuEq (1.51% Cu; 1.42g/t Au; 75.9g/t Ag) from a depth of 830m within a broader interval of 1,224m at 1.26% CuEq (0.71% Cu; 0.54g/t Au; 18.0g/t Ag) from a depth of 146m. This hole was collared 60m east of, and drilled parallel to, FSDH041 and the mineralization intersected is completely outside of the current Mineral Resource, successfully extending Breccia 41; FSDH055A, which returned the best precious metal intersections on the project to date, with 64m at 1,213.8g/t Ag and 0.49g/t Au from a depth of 362m; FSDH056, which intersected 502m at 0.89% CuEq (0.50% Cu; 0.40g/t Au; 11.4g/t Ag) from a depth of 168m, ending in over 1% CuEq mineralization at a depth of 670m, where it was abandoned due to poor ground conditions; and FSDH058 returning 1,252m at 0.91% CuEq (0.56% Cu; 0.41g/t Au; 6.6g/t Ag) from a depth of 100m, including 310m at 1.40% CuEq (0.87% Cu; 0.62g/t Au; 8.2g/t Ag) from a depth of 600m. This hole confirmed continuity of strong mineralization within the Aurora Zone, particularly connecting to hole FSDH048 which is 160m to the southeast. This hole was drilled to a final depth of 1,352m and is outside of the resource shell below a depth of 380m. Assay results to date from the 2021/2022 drill program are summarized in the table below: Hole-ID From (m) To  (m) Length (m) Cu (%) Au (g/t) Ag (g/t) CuEq (%) FSDH054 146.0 1,369.5 1,223.5 0.71 0.54 18.0 1.26 incl. 435.9 442.0 6.1 0.59 0.24 127.5 1.89 incl. 498.0 1,090.0 592.0 1.15 0.84 31.9 2.04 incl. 830.0 1,001.5 171.5 1.51 1.42 75.9 3.22 FSDH055A 362.0 426.0 64.0 0.01 0.49 1,213.8 incl. 374.4 402.0 27.6 0.01 0.50 2,439.2 incl. 380.0 388.0 8.0 0.01.....»»

Category: earningsSource: benzingaMay 4th, 2022

Ecopetrol announces the dates of the publication of its first quarter 2022 earnings report and conference calls

BOGOTÁ, Colombia, May 3, 2022 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that on Tuesday May 10th, 2022, after market close, it will release its financial and operating results for the first quarter 2022. On Wednesday, May 11th, 2022, Ecopetrol's senior management will host two conference calls to review the results, one in Spanish and the other in English. Please find below the timing, dial-in and links to access the conferences: Spanish Conference Call English Conference Call 08:00 a.m. Col Time 10:00 a.m. Col Time 09:00 a.m. NY Time 11:00 a.m. NY Time US Dial-in #: 1 (404) 400-0571 US Dial-in #: 1 (404) 400-0571 US Dial-in # (Toll Free): 1 (866) 374-5140 US Dial-in # (Toll Free): 1 (866) 374-5140 Local Colombia Dial-in #: 57 601 485 0348 Local Colombia Dial-in #: 57 601 485 0348 Local Colombia Dial-in # (Free Toll):  01 800 5 190 788 Local Colombia Dial-in # (Free Toll):  01 800 5 190 788.....»»

Category: earningsSource: benzingaMay 3rd, 2022

The 8 best fitness trackers and how to pick the one that fits you best

Wearing a fitness tracker can help you monitor your daily activity and even provide workout inspiration. Here are the 8 best we've tested. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Amazon; Alyssa Powell/InsiderFitness trackers have come a long way since Fitbit introduced its first clip-on wearable in 2009, and are now like wearing full-on personal trainers on your wrist.The advanced utility native to modern fitness trackers has made them increasingly popular, too, even going so far as to replace some people's everyday watch. Because why not wear a single wearable that tracks everything aspect of your daily activity while still reliably telling time? But the real question people should ask themselves isn't whether they should wear one but rather, which they should wear. As the fitness editor for Insider Reviews, I'm no stranger to the world of fitness trackers and have spent years using them during every activity possible. To help you figure out which best fits your lifestyle, I've compiled my eight favorites below. I've also included answers to a few FAQs, as well as insight into how I test fitness trackers, at the end of this guide.Learn more about how Insider Reviews tests fitness products here.Here are the best fitness trackersBest overall: Suunto 7, $358.36 on AmazonThe Suunto 7 is a robust fitness tracker that offers support for more than 70 activities, has basic smartwatch features, and provides highly useful workout feedback. Best full-featured: Garmin Epix, $899.99 on GarminOutdoor enthusiasts will surely love Garmin's detail-oriented (and full featured) Epix, a robust fitness smartwatch that tracks, captures, and logs just about any activity you can think of (and then some). Best Fitbit: Fitbit Versa 3, $179.95 on Best BuyFitbit's Versa 3 combines the brand's excellent fitness tracking tech with in-depth smartwatch capability, unique sleep tracking, and a clean design reminiscent of the Apple WatchBest smartwatch: Apple Watch Series 7, $329 on Amazon The latest Apple Watch (the Series 7) continues the tech company's dominance in the smartwatch space, offering wearers a versatile fitness tracker that's full-featured, easy to use, and incredibly powerful.Best budget: Garmin Forerunner 35, from $127.99 on Amazon The Forerunner 35 utilizes so much of what makes Garmin one of the best fitness tracker brands on the market, including accurate GPS, reliable activity tracking, and a sleek, comfortable design.Best basic: Fitbit Charge 5, from $130 on AmazonIf exercising is part of your routine, you'll love being able to track your workout in real-time on the bright, easy-to-read screen of the Fitbit Charge 5. Best for feedback: Garmin Forerunner 745, $499.99 on GarminThe Forerunner 745 is the perfect representation of the power of Garmin's ecosystem, offering wearers fine-tuned workout recommendations and valuable fitness insight in an easy-to-use package.Best multisport: Coros Apex, $299 on AmazonThe Apex from Coros is a multisport athlete's dream: It offers in-depth support for a range of activities, it has excellent battery life and a comfortable fit that almost makes you forget you're wearing it.Best fitness tracker overallRick Stella/InsiderSuunto 7$341.66 FROM AMAZONOriginally $399.00 | Save 14%$348.99 FROM REIOriginally $400.00 | Save 13%The Suunto 7 is a robust fitness tracker that offers support for more than 70 activities, has basic smartwatch features, and provides highly useful workout feedback.  Pros: Activity tracking for over 70 activities, including everything from running and cycling to snowboarding and hiking, in-depth fitness tracking, offers workout feedback, accurate GPS, lets you download maps for offline useCons: App experience is clunky, expensiveThough Suunto isn't the first name to come to mind when talking about fitness trackers, its 7 smartwatch slash tracker is one of the most impressive wearables I've ever tested. Suunto only released the 7 in 2020 but it's spent almost that entire time on my wrist (when I'm not testing other trackers for this guide), and routinely impresses me and provides exactly what I want out of a fitness tracker: in-depth feedback, accurate activity tracking, and a wide variety of use cases. Not only am I able to track any run or bike ride I go on, but it also offers support for other activities like snowboarding, hiking, swimming, or even just walking (among literally so many others). The user's manual states that it covers more than 70 activities, but do take that with a grain of salt; some of the activities it tracks just account for length of activity and your heart rate. That means it's not actually tracking advanced stats for things like tennis or basketball.Even if you aren't a multisport athlete, the 7 still offers plenty to take advantage of. Its GPS function (even one year later) is highly accurate and reliable, both while I run through my neighborhood in Brooklyn or bike longer distances across the entire NYC area. It offers offline map support for those who like to ditch their smartphone and head into the backcountry (and make it out safe) and also has smartwatch capability by offering smartphone notification support. And although its price tag may shock at first glance ($400 is a lot to spend on a mere wearable), it more than makes up for that investment with everything it offers. Because it can be utilized and benefited from by such a wide range of active users makes it one of the most versatile fitness trackers available — and one I plan on continuing to wear for many years.Best full-featured fitness trackerRick Stella/InsiderGarmin Epix$999.99 FROM GARMINOutdoor enthusiasts will surely love Garmin's detail-oriented (and full featured) Epix, a robust fitness smartwatch that tracks, captures, and logs just about any activity you can think of (and then some). Pros: Tracks a wide variety of activities, offers on-wrist pulse oximeter readings, tracks stress levels, monitors sleep, suggests workouts — this watch does it allCons: ExpensiveGarmin's fenix line of fitness trackers has long been my go-to for a comprehensive wearable experience. I could run, bike, lift weights, snowboard, hike, or swim with it on and it'd be right there with me every step of the way; it did (and the current line still does) everything. So, when Garmin announced it was resurrecting its Epix line (the first generation debuted in 2015 while its second generation model released in 2022), I was unsure how it'd slot into the brand's lineup — it wasn't an exact fenix clone but I assumed it'd be close.After wearing the Epix for two months straight, I'm sold. It not only stands on its own away from the fenix but has proved it's more than capable of blazing its own trail (literally).And that's important for a smartwatch that costs upward of $900. Since its price puts it at the high end of the cost spectrum, it needs to offer wearers a far different experience than something like a $400 Apple Watch. Thankfully, it does and it's packed to the brim with features. There's wrist-based heart rate monitoring, sleep, step, stress, hydration, and respiration tracking, Garmin's patented Body Battery monitoring, and VO2 max readings. This is in addition to the endless list of available activities to track, unique coaching insights and workout tips, recovery time estimates, visual race time predictors, and custom workouts (the list goes on and on). But what's been most impressive about the watch is that it does each of these incredibly well and doesn't just seem like a bunch of features were lazily tacked on. I find myself using almost all of them in every facet of my day, too. I use the recovery time estimate to see what workout my body is ready for, the coaching insights for daily inspiration, the race time predictors to adjust my training schedule, and sleep tracking to see how well my body is resting.One of my favorite things to use is the digital bread crumb feature that comes in handy when hiking in areas with little to no service. With this, I'm always able to know the path back to a trailhead or major road, even if my phone dies or I'm not in an area with much cell service. And because of that laundry list of available features, and it's high price, it's meant more for anyone who's consistently active and who enjoys getting outside. Of course, anyone can buy one and use it but to get the most value out of it, you want to make sure you're using it — and with a battery that lasts up to about two weeks, you're going to get a lot of use out of it.Best Fitbit fitness trackerFitbitFitbit Versa 3$175.00 FROM WALMARTOriginally $229.95 | Save 24%$179.95 FROM AMAZONOriginally $229.95 | Save 22%$179.95 FROM BEST BUYOriginally $229.95 | Save 22%Fitbit's Versa 3 combines the brand's excellent fitness tracking tech with in-depth smartwatch capability, unique sleep tracking, and a clean design reminiscent of the Apple WatchPros: Automatic activity tracking, built-in GPS, in-depth sleep tracking and exercise data, great battery life, offers unique mindful minutes feature, and is water-resistant up to 50 metersCons: Doesn't always automatically syncFitbit's line of Versa watches ushered in the brand's first foray into smartwatch territory, and the resulting products (from the original Versa to today's Versa 3) have been a triumph. Each combines the in-depth and reliable fitness tracking Fitbit's built its name on with functional smartwatch features and a clean, stylish (and recognizable) design. Not only is the Versa 3 the latest in this new-ish product category for Fitbit, but it's also the brand's best. It has built-in (and accurate) GPS, is water-resistant up to 50 meters, and offers excellent battery life, meaning you won't have to worry about throwing it on its charger each night.That last part is an important distinction, too, as the Versa 3 provides wearers with in-depth sleep tracking, including how much REM sleep you get, how much you toss and turn, and when you're sleeping lightly. During my tests, I was amazed at how tumultuous my night of sleep can be — and the data allowed me to try to fix certain things about how I sleep, or when to start winding down to give myself the best chance for solid rest. Though this is starting to pop up on more fitness trackers today, I've found the Versa 3 to provide one of the better, more insightful experiences. From a tracking perspective, the Versa 3 shines. I really enjoyed the automatic tracking function, which allowed me to immediately start running after I put my shoes on instead of navigating a menu just to hit Start. This may seem a minor feature but I ended up using it far more than I thought I would.The other major component of the Versa 3 is its smartwatch capability. Though the features won't blow you away, I found that it did still function exactly as I needed, providing me quick glances at notifications without having to pull my phone out of my pocket (or locate it in my apartment). Android users get more features, like voice-to-text responses, but it still functioned well, albeit quite basic, with my iPhone. Best fitness tracker smartwatchoasisamuel/ShutterstockApple Watch Series 7$349.99 FROM AMAZONOriginally $399.00 | Save 12%$349.00 FROM WALMARTOriginally $399.00 | Save 13%$399.00 FROM APPLE$399.00 FROM BEST BUYThe latest Apple Watch (Series 7) continues the tech company's dominance in the smartwatch space, offering wearers a versatile fitness tracker that's full-featured, easy to use, and incredibly powerful.Pros: Wide range of accurate activity tracking, clean, stylish design, great for iPhone users, easy-to-read always-on touchscreen display, music integrationCons: Battery life isn't that great (you'll need to recharge it almost every day)You can't have a guide to the best fitness trackers without the appearance of the Apple Watch — it's that good. And aside from its quality, the Apple Watch is also one of the most important fitness wearables thanks to its ability to seamlessly blend fitness tracking and smartwatch capability. Other trackers in this guide offer something similar but Apple's wearable is by far and away the best to do it. From a fitness tracking perspective, it has a deep offering of trackable activities but excels with your basics like running, swimming, and cycling, as well as the company's new streaming service, Apple Fitness+. There's even a Nike version of the watch that comes with the Nike Run Club app pre-installed, so you know Apple intends for this to be on the wrist of a runner.It works really well in practice, too. The watch was always quite comfortable on my wrist, even on longer runs or bike rides, and the screen is really easy to read mid-activity. Its GPS isn't as quick as the Suunto 7 but it wasn't as fussy as my experience with Fitbit's Charge 4. When it does finally sync, it's quite accurate and routinely produced that same accuracy over days and weeks of testing. The Series 7 is rounded out by both its smartwatch offerings and advanced health analytics. There's sleep tracking, a blood oxygen sensor, an ECG reader, and even handwash tracking. I didn't find myself using everything all the time but it was nice knowing I had access to some of the more in-depth features whenever I wanted. Being able to respond to text messages and use it as a true smartwatch made it that much more valuable to me (especially as an iPhone user). Best budget fitness trackerGarminGarmin Forerunner 35$136.48 FROM AMAZONOriginally $169.99 | Save 20%The Forerunner 35 utilizes so much of what makes Garmin one of the best fitness tracker brands on the market, including accurate GPS, reliable activity tracking, and a sleek, comfortable design.Pros: Great battery life, plenty of functionality despite its basic design, lightweight, waterproof, built-in GPSCons: No swimming mode despite its waterproof design, GPS signal can be slow to lock onOften when you see the words "budget" and "fitness tracker" next to each other, you find a wearable offering the most basic of function and tracking capability. Then there's the Garmin Forerunner 35. Though vanilla in design, the Forerunner 35 is anything but "budget" in what it offers yet still has a very reasonable price tag of less than $100.If you've ever used a Garmin fitness tracker or smartwatch before, you know just how capable its ecosystem is — and the 35, though inexpensive, is no different. It features 24/7 heart rate monitoring, accurate GPS tracking, and compatibility with running and cycling (among a few others). What I liked best about the 35 during my tests was its attention to running features that more expensive watches just don't have, specifically its running cadence analysis and an interval training mode. With the run cadence feature, I was able to have a more in-depth look into my mechanics and could make more informed adjustments. For advanced runners, this data is invaluable. Navigation-wise, the Forerunner 35 is a breeze. Just a few buttons flank the bezel, each of which is straightforward in allowing you to access the watch's suite of features. It won't wow you in terms of design but this is one of the best bang-for-buck fitness trackers on the market. Best basic fitness trackerFitbitFitbit Charge 5$128.95 FROM AMAZONOriginally $179.95 | Save 28%$129.95 FROM TARGETOriginally $179.95 | Save 28%$129.95 FROM BEST BUYOriginally $179.95 | Save 28%If exercising is part of your routine, you'll love being able to track your workout in real-time on the bright, easy-to-read screen of the Fitbit Charge 5. Pros: Comfortable design, easy to read display, built-in heart rate monitor, in-depth sleep tracking, advanced workout features, real-time workout tracking on-screen, long battery life, user-friendly appCons: No music storage, basic black & white displayThe Fitbit Charge 5 supplants the Fitbit Charge 4 (our prior recommendation as the best budget fitness tracker), with a few new features that again make it one of the best values for any current fitness wearable.In addition to counting steps like any good fitness tracker should, the Charge 5 also measures stairs climbed, calories burned, resting, and active heart rate, and offers in-depth sleep tracking. It even shows which type of sleep you're in, be it light, deep, or REM. You can also see how your habits stack up against those of other people your age via the app. If you're feeling stressed, this tracker also offers breathing exercises to help you relax. And, diving into more of the workout features, the Charge 5 has dedicated functions for recording a wide range of activities, including running, cycling, cardio, and strength training. There's even a timer option for HIIT (High-Intensity Interval Training).It also lets you pause and resume workouts, and if you do forget to tell it you're starting an activity or workout it can automatically detect a session and start monitoring it.Other new features like a stress management score provide unique insights into your health, and there's even a new daily readiness score that lets you know if you're body is rested enough for another workout or if you should focus on rehabbing for the day (this is only accessible via a Fitbit Premium membership, however).  Best fitness tracker for feedbackAdam Molina/InsiderGarmin Forerunner 745$499.99 FROM GARMINThe Forerunner 745 is the perfect representation of the power of Garmin's ecosystem, offering wearers fine-tuned workout recommendations and valuable fitness insight in an easy-to-use package.  Pros: Huge variety of trackable activities, built-in pulse oximeter, and accurate heart-rate monitor, motivating recommended workouts and detailed accuracy as you wear it more, offers valuable fitness insight, excellent battery lifeCons: The menu system can be clunky, expensiveGarmin's long-made highly advanced fitness trackers that have always done well to satiate the needs of hardcore athletes. With the Forerunner 745, it brings that in-depth approach to a wider audience, providing highly valuable fitness insight and feedback to anyone, regardless of how active they are. The beauty of this watch rests with the advanced data it provides. During workouts, the 745 displays everything from time active and heart rate to distance covered and pace. Each of which is highly useful in the moment if you're interval training or aiming for a certain time on a run or bike ride. It's also quite easy to customize this screen so you have exactly what you want when you want it. Though that in-the-moment date is great, it's what the watch offers after the activity (or between workouts) that's even better. This includes challenging workout recommendations that adapt to your output, the ideal amount of rest you need between activities (which is highly important), and customized training plans. Neither of these is just tacked-on, too, and I found myself gravitating toward them more and more as I tested the watch even though I've always preferred my own workouts to anything pre-written for me. Its tracking accuracy is also highly precise, and I found it to be similar to that of Suunto's 7 and the Apple Watch Series 6. It syncs with GPS rather quickly and would consistently produce very similar metrics (both in terms of distance and pace) no matter if I was cycling or running. If there was something to nitpick about the Forerunner 745, it'd be its clunky menu system. Like most Garmin watches, the OS isn't exactly intuitive, though it does get easier the more you use it (as would anything). It's not enough to be a dealbreaker, especially considering how much else this watch does that's superior to most fitness trackers currently available. Best multisport fitness trackerCorosCoros Apex$300.00 FROM REI$299.00 FROM AMAZONThe Apex from Coros is a multisport athlete's dream: It offers in-depth support for a range of activities, it has excellent battery life and a comfortable fit that almost makes you forget you're wearing it.Pros: Long battery life, even while using GPS, multisport functionality that goes beyond just tracking heart rate, comfortable design, great app experience, perfect for triathletes, built-in GPSCons: The screen can be too dim at times, easy to accidentally press the dials to change modesIf you spend much of your active time doing something different from the day before, then the Coros Apex is the fitness tracker you need. It's especially adept at tracking running, biking, and swimming, making it perfect for the budding or seasoned triathlete. But that's not only who the Apex is for; Coros consistently updates the watch's software to add new activities and modes, including sports like snowboarding, gym cardio, and hiking. This only adds to its versatility and the newly added modes do a good job of being accessible and easy to use as soon as they're available. The Apex truly proves its worth for ultrarunners. Thanks to excellent battery life, highly accurate GPS, and a dedicated trail running mode, it's the watch a grab for when I know I'm going to be out for a long run that won't just consist of running on the sidewalk or through my local park. Its comfortable design makes it easy to wear for long periods of time, too, without irritating my wrist or becoming a drag on my running form. Though these are its high points, the Apex does also offer basic fitness tracking capability in the form of heart rate, steps, calories, and so on, so it's not just for advanced athletes. Rather, it's great for anyone looking to spend more time running, biking, or cycling, and who has an inclination to try new activities.Its $300 price point puts it solidly in the middle in terms of other watches featured in this guide but its incredible capability makes it highly worth the expense. How I test fitness trackersAmazon; Alyssa Powell/InsiderEach of the fitness trackers included in this guide went through a series of tests to determine how well they performed across these four categories: Fit & comfort, tracking accuracy, added features, and value. Here's how we considered each category while testing:Fit & comfort: If a fitness tracker isn't comfortable or doesn't fit well, you'll be far less likely to want to wear it very often — and if you don't wear it often, what's the point? Tracker manufacturers also know this, for the most part, so many of the best active wearables feature bands that not only stay comfortable for long periods of time but don't chafe or become bothersome while you sweat. When testing, I looked at everything from how they felt the moment we put them on to whether we noticed any discomfort throughout short and long workout sessions. Tracking accuracy: Testing a fitness tracker's accuracy isn't always straightforward; you can literally wear two different watches and get different GPS readings, pace readings, and so on. So, instead of using a second tracker to test a wearable's accuracy, I would map out how far an exact mile was from my house before running it a few times wearing the same watch. The trackers that ultimately made the cut all produced results that were within no more than .1 miles off. Added features: Testing for this category was straightforward: Did the tracker have any supplemental features outside of just tracking steps, calories burned, or heart rate? This could be anything from extra activities it's capable of logging, the ability to act like a smartwatch and get smartphone notifications, etc. This wasn't a dealbreaker category, however, as trackers aren't defined by their added features — but it is still a nice touch and something that can separate a good tracker from a great one. Value: The value of a fitness tracker isn't just its sticker price but also how valuable it is from a function standpoint to the user. Does it have the features you need? Will it track and compile the data you want it to? Can it actually serve as something that benefits your fitness as opposed to detracting from it? These are all questions you want to consider when shopping to find a tracker's true value. This becomes more of a subjective category when viewed that way but when testing, I still was able to judge how well the tracker's held up across each of the above categories — and still considered how much they cost, as well. FAQsIs it worth getting a fitness tracker?Yes, so long as you actually use the tracker, and the data it collects, to inform your fitness goals. This means understanding what the fitness tracker you buy offers, and opting for one that offers insight into what you specifically need. For instance, if you just need something to motivate you to increase your daily activity, you shouldn't buy a full-featured watch like the Coros Apex or Suutno 7. Something like the Apple Watch or Fitbit's Versa 3 would be better suited to your lifestyle.And although there's nothing wrong with wearing a fitness tracker to only keep tabs on your daily steps or calories burned, that information it accrues can be vital for anyone who wants to develop a daily, weekly, or monthly fitness routine.The term "worth" as it applies to fitness wearables is relative to how exactly that information is used and who is using it. You first need to decide how you intend to use a fitness watch to truly determine how worthwhile it can be. What do fitness trackers do?Fitness trackers monitor and accrue a variety of activity data such as the number of steps a wearer takes each day, how many calories they've burned, and the flights of stairs they've climbed, among many others.Basic fitness trackers often offer tracking for just those listed above while more advanced wearables, and fitness smartwatches, provide a slew of advanced features such as workout tracking (running, cycling, weight lifting, etc.), heart beat monitoring, smartphone notifications, and more. Some trackers even have compatible smartphone apps that centralize the data it collects, allowing users to chart their progress over time via a dashboard or activity calendar. What are the pros and cons of fitness trackers?Deciding whether the pros of a fitness tracker outweigh its cons ultimately comes down to how you intend to use it. If you plan on being routinely active and using the data it collects to develop and maintain a fitness routine, then it can be extremely beneficial. However, if you don't ever look at the amassed data or buy a watch that has too many features you'll never use, then it will surely become an expensive digital timepiece that tracks fitness data for no reason. Fitness trackers are powerful tools that can offer deep insight into one's health profile — but they can also be quite expensive. This is why it's important to not only figure out how you want to use the watch before you buy one but to research which watch is best fit for your lifestyle and your goals. What should I look for in a fitness tracker?Those looking for a device dedicated to tracking daily activity, workouts, and sleep have a vast number of choices even without including members of the smartwatch family. Here's what to consider:Comfort and design: Since you'll wear the tracker daily (even to bed for sleep tracking), comfort is a high priority. If it's not comfortable, you won't want to wear it; plain and simple. The same goes for design. If you have a small wrist, you may want a tracker with a sleek, understated look. Fitness trackers come in all shapes and sizes, so you'll be able to find one that suits your style.Features: If you're looking for a no-frills fitness tracker, then one that only tracks steps and your sleep habits may suffice. However, if you work out often or want insight into how your activity impacts your overall health, a more advanced tracker with a heart rate monitor or built-in GPS may be the one for you.You should also consider the types of workouts you like to do. For example, if you're a swimmer, waterproofing is a must. If you're just starting a new fitness routine, then a device that coaches you and gives you goals to work towards may provide the extra motivation you need.App experience: Most fitness trackers are designed to work in tandem with your smartphone, syncing the data collected with a downloaded application. This allows you to gain even more insight into your health and save the information collected to track your progress over time.Unfortunately, not all companion apps are that effective and you may find there are some experiences you prefer over others. It's important to choose a fitness tracker that gives you a good app experience. Easy navigation and compatibility with your phone's operating system are a must.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 3rd, 2022

AvalonBay Communities (AVB) Q1 FFO In Line, Revenues Miss

AvalonBay Communities (AVB) witnesses lackluster first-quarter performance as the top line lags estimates. AvalonBay Communities, Inc.’s AVB first-quarter 2022 core funds from operations (FFO) per share of $2.26 matched the Zacks Consensus Estimate.However, total revenues of $613.9 million lagged the consensus estimate of $615.4 million.On a year-over-year basis, core FFO per share increased 15.9% and total revenues grew 11.4%.The first-quarter results reflected a year-over-year increase in same-store residential revenues, partially offset by rising operating expenses.The collected residential revenues fell to 94.9% as of Mar 31, 2022, from 95.3% reported at the end of Dec 31, 2021.Quarter in DetailIn the reported quarter, the same-store residential rental revenues on a cash basis increased 8.5% year over year to $540.7 million. Same-store operating expenses rose 4.7% to $169.6 million, while the same-store residential net operating income (NOI) increased 10.3% to $371.1 million.Same-store average rental rates grew from $2,588 as of Dec 31, 2021, to $2,635 as of Mar 31, 2022. Same-store economic occupancy marginally rose from 96.2% to 96.4% sequentially.As of Mar 31, 2022, AvalonBay had 16 consolidated development communities under construction (expected to contain 4,903 apartment homes and 39,000 square feet of commercial space). The estimated total capital cost of these development communities at completion is $2.05 billion.Portfolio ActivityDuring the first quarter, AVB acquired Avalon Flatirons for $95 million. This is a wholly-owned operating community containing 207 apartment homes and 16,000 square feet of commercial space located in Lafayette, CO.AvalonBay sold three wholly-owned operating communities containing 588 apartment homes for $235 million in the reported quarter. The properties include Avalon West Long Branch in West Long Branch, NJ, Avalon Ossining in Ossining, NY and Avalon East Norwalk in Norwalk, CT.Balance SheetAVB had $457.4 million of unrestricted cash and cash in escrow as of Mar 31, 2022. As of on the same date, the company did not have any borrowings outstanding under its $1.75-billion unsecured credit facility.Total debt principal was $8.1 million at the end of the first quarter. Additionally, its annualized net debt-to-core EBITDAre for the January-March period was five times and the unencumbered NOI for 2022 was 95%.OutlookFor second-quarter 2022, AvalonBay expects core FFO per share to lie in the range of $2.25-$2.37. The Zacks Consensus Estimate for the same is pegged at $2.34.For 2022, AVB expects core FFO per share between $9.38 and $9.78, with the mid-point at $9.58. The Zacks Consensus Estimate for the same is $9.55. Management expects same-store residential revenues to lie between 8.25% and 9.75%.AvalonBay Communities currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.AvalonBay Communities, Inc. Price, Consensus and EPS Surprise AvalonBay Communities, Inc. price-consensus-eps-surprise-chart | AvalonBay Communities, Inc. QuotePerformance of Notable REITsEquity Residential’s EQR reported first-quarter 2022 normalized FFO per share of 77 cents, missing the Zacks Consensus Estimate of 80 cents. Rental income came in at $653.3 million, lagging the consensus mark of $658.07 million. Nonetheless, on a year-over-year basis, normalized FFO per share improved 13.2%, while rental income climbed 9.3%.EQR’s normalized FFO grew based on strong lease demand, while same-store revenue witnessed growth driven by strong physical occupancy and improvement in pricing power.Mid-America Apartment Communities, Inc. MAA reported first-quarter 2022 core FFO per share of $1.97, surpassing the Zacks Consensus Estimate of $1.92. The reported number increased 20.1% year over year.The rental and other property revenues came in at $476.1 million, outpacing the Zacks Consensus Estimate of $474.20 million. The reported figure was 12% higher than the previous-year quarter’s $425 million.MAA’s quarterly results were driven by an increase in the average effective rent per unit for the same-store portfolio. The average physical occupancy for the same-store portfolio also increased year over year.Alexandria Real Estate Equities, Inc. ARE reported first-quarter 2022 adjusted FFO per share of $2.05, surpassing the Zacks Consensus Estimate of $2.00. The FFO per share also compared favorably with the year-ago quarter’s $1.91.Rental revenues in the quarter were $615.1 million. Also, rental revenues climbed 28.2% from the prior-year quarter’s $479.8 million.Alexandria witnessed continued healthy leasing activity and rental rate growth during the quarter.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report Equity Residential (EQR): Free Stock Analysis Report MidAmerica Apartment Communities, Inc. (MAA): Free Stock Analysis Report Alexandria Real Estate Equities, Inc. (ARE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 29th, 2022

Cashbox Ventures Ltd. (Formerly Wikileaf Technologies Inc.) Reports Financial Results for the 2021 Fiscal Year

VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) -- Cashbox Ventures Ltd. (the "Company") (CSE:CBOX) announces its financial results for the 2021 fiscal year. For complete details of the consolidated audited financial statements and accompanying management's discussion and analysis for the year ended December 31, 2021, please see the Company's filings on SEDAR at www.sedar.com The Company made a significant change to its operations in September 2021 by selling all of its digital online platform assets to publicly traded Fire & Flower (TSX:FAF) and its wholly owned subsidiary HiFyre. Based on strategic review and analysis it was determined that Fire & Flower's growing retail presence, alongside the HiFyre technology stack and the resources and expertise was the best path for the platform to reach its full potential and realizable shareholder value. Operational and Financial Highlights Sale of digital assets to Fire & Flower for $7.5 million Financial Results: Net earnings of $2.1 million for 2021, up from a $3.6 million loss in 2020 Company Restructuring: Operating expenses of $1.85 million in 2021, down from $3.7 million in 2020 Mr. Cruise stated "The Cannabis market has become hyper competitive. While management believes in the sector long term, a material change was warranted for the Company. We believe our intermediate objectives were achieved through the asset sale to Fire & Flower, a reputable leader within the cannabis space and remain committed to searching out and evaluating opportunities that can create shareholder value." The Company ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaApr 28th, 2022

Dril-Quip, Inc. Announces First Quarter 2022 Results

HOUSTON, April 28, 2022 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip") today reported operational and financial results for the first quarter of 2022. Results for the first quarter of 2022 included: Revenue of $83.1 million for the first quarter of 2022, an increase of $5.2 million from the fourth quarter of 2021 on higher subsea products revenue; Booked $66.5 million of new orders during the first quarter of 2022, including approximately $17 million in product and service orders for projects in Brazil; Reported a net loss of $8.9 million, or a $0.26 loss per share, an improvement of $54.5 million, or $1.55 per share compared to the fourth quarter of 2021, due to increased revenue and lower restructuring and other charges Generated adjusted EBITDA of $3.2 million, or 3.8% of revenue; an increase of $2.6 million from the fourth quarter of 2021; First quarter net cash used by operating activities of $10.9 million and free cash flow of negative $13.0 million, inclusive of $2.1 million of capital expenditures Repurchased $5.8 million of shares at an average price of $21.20 during the first quarter of 2022. Jeff Bird, Dril-Quip's President and Chief Executive Officer, commented, "We continue to see a strengthening market that is supportive of customer activity and an increasing demand for our products and services. Orders this quarter represent the second straight quarter of strengthening bookings we saw off the pandemic lows of 2020 and most of 2021. This, along with our continued focus on our strategic growth pillars of peer-to-peer collaboration, downhole tools expansion and e-Series technology position us well for our expected 20% year-over-year growth in orders. The customer response from our Aker Solutions collaboration agreement has been strong, and we are beginning to align and dedicate resources to this effort that we expect will be an emerging revenue stream for us in the coming years. These strong order trends started to translate into revenue in the first quarter as revenue was up by approximately 7% sequentially. We would expect this trend to continue and ultimately drive revenues up 10% for the full year 2022 compared to 2021." "As discussed in our annual earnings call, we also continue to make progress in the strategy of creating product line teams that are organized and focused on end-to-end customer and financial execution of their respective product line and a smaller, leaner, more sustainable footprint. We expect this new model to create a more customer-focused organization that drives both operational and financial excellence. We are already beginning to realize the benefits of this more transparent organizational structure in several areas including manufacturing, supply chain, and sales. I look forward to discussing the timing and size of these benefits in the coming quarters." "As we look forward in 2022, we remain confident in our ability to achieve the goals we set forth during our annual earnings call. Bookings, revenue and adjusted EBITDA will be the primary focus of our team. We believe our strategic path and internal continuous improvement mindset coupled with our strong balance sheet will lead to a stronger Dril-Quip in the coming quarters and years for the benefit of our shareholders and stakeholders." In conjunction with today's release, the Company posted a new investor presentation entitled "First Quarter 2022 Supplemental Earnings Information" to its website, www.dril-quip.com, on the "Events & Presentations" page under the Investors tab. Investors should note that Dril-Quip announces material financial information in Securities and Exchange Commission ("SEC") filings, press releases and public conference calls. Dril-Quip may use the Investors section of its website (www.dril-quip.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. Information on Dril-Quip's website is not part of this release. Operational and Financial Results Revenue, Cost of Sales and Gross Operating Margin Consolidated revenue for the first quarter of 2022 was $83.1 million, up $5.2 million from the fourth quarter of 2021 and up $1.9 million compared to the first quarter of 2021. The sequential increase was primarily a result of higher subsea product volumes, primarily fabricated joints, partially offset by a decrease in downhole tools product and service revenues. The increase in revenue year-over-year was driven by higher leasing revenues across most regions related to improved subsea rental tool utilization due to increased customer activity. Cost of sales for the first quarter of 2022 was $64.0 million, an increase of $2.8 million from the fourth quarter of 2021 and an increase of $7.2 million compared to the prior year. Gross operating margin for the first quarter of 2022 was 23.0%, an increase from 21.5% in the fourth quarter of 2021 and a decrease from 30.1% in the first quarter of 2021. The increase in gross margins compared to Q4 2021 was mostly attributed to increased absorption of fixed overhead from higher product revenues, partially offset by a decrease in service revenues and unfavorable product mix. Selling, General and Administrative Expenses Selling, general and administrative ("SG&A") expenses for the first quarter of 2022 were $22.4 million, a decrease of $8.2 million compared to the fourth quarter of 2021 and a decrease of $7.2 million compared to the first quarter of 2021. The sequential decrease in SG&A was due to a reduction in expense related to the executive separation agreement, lower incentive compensation accrual and a decrease in reserve for bad debt. The year-over-year decrease in SG&A is primarily attributable to lower legal expenses in connection with the FMC Technologies, Inc. lawsuit, a decrease in professional fees and the non-recurrence of expense associated with the importation tax settlement under the Brazilian tax amnesty program. Engineering and product development expenses were down $0.2 million sequentially and $0.4 million lower than the first quarter of 2021 due to lower research and development expenses as a result of the completion of investments in certain strategic projects. Net Loss, Adjusted EBITDA and Free Cash Flow For the first quarter of 2022, the Company reported a net loss of $8.9 million, or a $0.26 loss per share. Adjusted EBITDA totaled $3.2 million for the first quarter of 2022 compared to $0.6 million for the fourth quarter of 2021, representing incremental margins of 48.9% quarter over quarter. Adjusted EBITDA for the first quarter of 2022 was down $4.9 million compared to the first quarter of 2021. The improvement in adjusted EBITDA sequentially can be attributed to increased revenues from subsea products. The decrease in adjusted EBITDA year-over-year can be mostly attributed to lower gross margins from unfavorable revenue mix, primarily lower margin subsea products contribution and a decrease in downhole tools product and service revenue. Net cash used by operations was $10.9 million and free cash flow was a negative $13.0 million for the first quarter of 2022. This decrease from the previous quarter was primarily driven by seasonal cash tax payments and short-term incentive compensation, partially offset by a decrease in working capital. Capital expenditures in the first quarter of 2022 were approximately $2.1 million, flat compared to the fourth quarter of 2021. The Company expects that capital expenditures will increase throughout the remainder of 2022 for rentals tools to support upcoming projects in Latin America and investments in information technology. Share Repurchases For the three-month period ended March 31, 2022, the Company purchased 273,629 shares under its share repurchase plan at an average price of $21.20 per share, totaling $5.8 million and retired such shares. The Company has purchased approximately $82 million of the $200 million currently authorized by the Board of Directors. The Company continues to evaluate the amount and timing of its share repurchases as part of the Company's overall capital allocation strategy. About Dril-Quip Dril-Quip is a developer, manufacturer and provider of highly engineered equipment, service and innovative technologies for use in the energy industry. Forward-Looking Statements Statements contained herein relating to future operations and financial results that are forward-looking statements, including those related to market conditions, anticipated project bookings, expected timing of completing strategic restructuring, anticipated timing of delivery of new orders, anticipated revenues, costs, cost synergies and savings, possible acquisitions, new product offerings and related revenues, share repurchases and expectations regarding operating results, are based upon certain assumptions and analyses made by the management of the Company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors. These statements are subject to risks beyond the Company's control, including, but not limited to, the impact of the ongoing COVID-19 pandemic, the effects of actions taken by third parties, including, but not limited to, governmental authorities, customers, contractors and suppliers, in response to the COVID-19 pandemic, the impact of actions taken by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC nations to adjust their production levels, the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry, declines in investor and lender sentiment with respect to, and new capital investments in, the oil and gas industry, project terminations, suspensions or scope adjustments to contracts, uncertainties regarding the effects of new governmental regulations, the Company's international operations, operating risks, the impact of our customers and the global energy sector shifting some of their asset allocation from fossil-fuel production to renewable energy resources, and other factors detailed in the Company's public filings with the SEC. Investors are cautioned that any such statements are not guarantees of future performance and actual outcomes may vary materially from those indicated. Non-GAAP Financial Information Adjusted Net Income (Loss), Adjusted Diluted EPS, Free Cash Flow and Adjusted EBITDA are non-GAAP measures. Adjusted Net Income (Loss) and Adjusted Diluted EPS are defined as net income (loss) and earnings per share, respectively, excluding the impact of foreign currency gains or losses as well as other significant non-cash items and certain charges and credits. Free Cash Flow is defined as net cash provided by operating activities less cash used in the purchase of property, plant and equipment. Adjusted EBITDA is defined as net income excluding income taxes, interest income and expense, depreciation and amortization expense, stock-based compensation, non-cash gains or losses from foreign currency exchange rate changes as well as other significant non-cash items and other adjustments for certain charges and credits. The Company believes that these non-GAAP measures enable it to evaluate and compare more effectively the results of our operations period over period and identify operating trends by removing the effect of its capital structure from its operating structure. In addition, the Company believes that these measures are supplemental measurement tools used by analysts and investors to help evaluate overall operating performance, ability to pursue and service possible debt opportunities and make future capital expenditures. Adjusted Net Income (Loss), Adjusted EBITDA and Free Cash Flow do not represent funds available for our discretionary use and are not intended to represent or to be used as a substitute for net income or net cash provided by operating activities, as measured under U.S. generally accepted accounting principles ("GAAP"). See "Unaudited Non-GAAP Financial Measures" below for additional information concerning non-GAAP financial information, including a reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. Non-GAAP financial information supplements and should be read together with, and is not an alternative or substitute for, the Company's financial results reported in accordance with GAAP. Because non-GAAP financial information is not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures. Investor Relations Contact Blake Holcomb, Director of Investor Relations and Corporate Planning(713) 939-7711Blake_Holcomb@dril-quip.com                         Dril-Quip, Inc. Comparative Condensed Consolidated Income Statement (Unaudited)               Three months ended   March 31, 2022   December 31, 2021   March 31, 2021   (In thousands, except per share data) Revenues:           Products $ 55,642     $ 48,694     $ 55,583   Services   17,499       19,380       17,667   Leasing   9,996       9,838       7,989   Total revenues   83,137       77,912       81,239   Costs and expenses:           Cost of sales   63,995       61,197       56,787   Selling, general and administrative   22,393       30,620       29,558   Engineering and product development   3,676       3,834       4,037   Restructuring and other charges   32       52,913    .....»»

Category: earningsSource: benzingaApr 28th, 2022

Advanced Micro Devices Is a Solid Buy Below $100

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Buy AMD stock before the company announces results next week. It will take the stock higher if the company beats expectations. The post Advanced Micro Devices Is a Solid Buy Below $100 appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”.....»»

Category: topSource: investorplaceApr 28th, 2022

AvalonBay Communities (AVB) Meets Q1 FFO Estimates

AvalonBay (AVB) delivered FFO and revenue surprises of 0% and 0.24%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock? AvalonBay Communities (AVB) came out with quarterly funds from operations (FFO) of $2.26 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $1.95 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this apartment building owner would post FFO of $2.24 per share when it actually produced FFO of $2.27, delivering a surprise of 1.34%.Over the last four quarters, the company has surpassed consensus FFO estimates three times.AvalonBay, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $613.93 million for the quarter ended March 2022, missing the Zacks Consensus Estimate by 0.24%. This compares to year-ago revenues of $551.14 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.AvalonBay shares have lost about 3.3% since the beginning of the year versus the S&P 500's decline of -12.4%.What's Next for AvalonBay?While AvalonBay has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.Ahead of this earnings release, the estimate revisions trend for AvalonBay: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $2.34 on $628.84 million in revenues for the coming quarter and $9.55 on $2.54 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Residential is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, UMH Properties (UMH), has yet to report results for the quarter ended March 2022. The results are expected to be released on May 4.This real estate investment trust is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.UMH Properties' revenues are expected to be $44.97 million, up 4.3% from the year-ago quarter. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report UMH Properties, Inc. (UMH): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksApr 27th, 2022

The Big Dramatic Pullback In Tesla

In his Daily Market Notes report to investors, while commenting on Tesla Inc (NASDAQ:TSLA), Louis Navellier wrote: Behind Tesla Pullback Microsoft posted better than expected earnings after the close on Tuesday, which should help to firm up the FAANG stocks. Google posted 23% annual revenue growth, but missed analyst estimates a bit due to slowing YouTube […] In his Daily Market Notes report to investors, while commenting on Tesla Inc (NASDAQ:TSLA), Louis Navellier wrote: Behind Tesla Pullback Microsoft posted better than expected earnings after the close on Tuesday, which should help to firm up the FAANG stocks. Google posted 23% annual revenue growth, but missed analyst estimates a bit due to slowing YouTube growth to a 14% annual pace. However, Facebook/Meta Platforms continues to struggle with its operating margins and may remain a drag on FAANG. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Amazon and Apple will round out the FAANG earnings announcements this week. I will be especially interested in Apple’s comments on the Foxconn factories in China that make its products after it announces its latest quarterly results. The big dramatic pullback in Tesla has a little more behind the speculations that Elon Musk might have to sell some of his shares to finance his successful $44B bid to take Twitter private. Tesla's profitability comes from its Shanghai plant where they make cars with iron phosphate batteries. It is imperative that Tesla gets that factory up and running. Otherwise, it is gonna crimp its second-quarter results.  Energy stocks, fertilizer, shipping, and food stocks are expected to release record results. Strong April Finish? Interestingly, NASDAQ has corrected 10% month to date many times. And every single time, it has gone up in the last three days of the month. So I'm expecting the market to finish somewhat on a positive note. April is a strong month historically.  Soft Landing There is mounting evidence that inflation peaked in March as crude oil and other commodity prices moderate. The 10-year Treasury bond yield has also been noticeably weak this week, which is raising hope that market rates may have peaked near-term.  The National Association of Realtors on Wednesday announced that pending home sales declined 1.2% in March as all four major regions it surveyed reported a decline.  Between tight inventory, higher mortgage rates, and affordability issues, pending home sales have declined for the past five months and have declined 8.2% compared to a year ago.  This is an example of a “soft landing” that the Fed is striving to engineer. Finally, the Atlanta Fed on Tuesday cut its first-quarter GDP estimate to a 0.4% annual pace.  The consensus of most economists ranges from a -0.2% to 2% annual pace, so the Atlanta Fed is currently below the median estimate. Coffee Beans U.S.-based crypto holders were able to generate $47 billion from trading Bitcoin and Co. last year. With estimated profits of $8.2 billion, $5.8 billion, and $5.8 billion, respectively, countries like the United Kingdom, Germany, and Japan are still in a different league than the United States. Source: Statista. See the full story here.   Updated on Apr 27, 2022, 4:15 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkApr 27th, 2022

Robinhood drops after the popular trading platform announces it is cutting 9% of staff after period of rapid growth

The cuts should "improve efficiency, increase our velocity," said Robinhood CEO Vlad Tenev. The firm grew rapidly during the pandemic. Robinhood co-founders Baiju Bhatt and Vlad Tenev attend Robinhood's IPO Listing Day on July 29, 2021, in New York City.Cindy Ord/Getty Images for Robinhood Robinhood shares fell Wednesday after the retail trading app said it's cutting hundreds of jobs.  The company will let go of more than 300 workers after headcount swelled to around 3,800 from 700 between 2020 and 2021.  Robinhood's move was announced ahead of the release of its first-quarter earnings report.  Shares of Robinhood fell Wednesday following plans by the trading platform to reduce its workforce and recalibrate after the pandemic fueled a boom in trading by amateur investors. Stock in the company valued at around $9 billion fell as much as 5.2% to $9.48 premarket, trading around all-time lows. The company went public in July 2021 and closed its first trading session at $34.82. Robinhood CEO and co-founder Vlad Tenev in a blog post late Tuesday said it would let go of approximately 9% of its full-time employees. He said its expanded its staff to around 3,800 from 700 between 2020 and 2021. The layoffs put the reductions at more than 300 workers. "This rapid headcount growth has led to some duplicate roles and job functions, and more layers and complexity than are optimal," said Tenev in describing a period of "hyper-growth" accelerated by COVID lockdowns, low-interest rates, and economic stimulus checks sent to millions of Americans by the federal government.News of the jobs cuts arrived before Robinhood released its first-quarter earnings report on Thursday. Analysts polled by FactSet expect the company to post a narrower per-share loss of $0.38 a share on a 32% revenue decline to $355 million from $522 million a year earlier. The stock dropped right after the release of its fourth-quarter results in January as Robinhood forecast first-quarter revenue of "less than $340 million," which was lower than Wall Street's average projection of $448 million.Read the original article on Business Insider.....»»

Category: personnelSource: nytApr 27th, 2022

NexPoint Residential Trust Inc. (NXRT) Q1 FFO Surpass Estimates

NexPoint Residential Trust Inc. (NXRT) delivered FFO and revenue surprises of 8.75% and 1.13%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock? NexPoint Residential Trust Inc. (NXRT) came out with quarterly funds from operations (FFO) of $0.87 per share, beating the Zacks Consensus Estimate of $0.80 per share. This compares to FFO of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 8.75%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.74 per share when it actually produced FFO of $0.77, delivering a surprise of 4.05%.Over the last four quarters, the company has surpassed consensus FFO estimates three times.NexPoint Residential Trust Inc., which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $60.79 million for the quarter ended March 2022, missing the Zacks Consensus Estimate by 1.13%. This compares to year-ago revenues of $51.8 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.NexPoint Residential Trust Inc. Shares have added about 6.8% since the beginning of the year versus the S&P 500's decline of -9.9%.What's Next for NexPoint Residential Trust Inc.While NexPoint Residential Trust Inc. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.Ahead of this earnings release, the estimate revisions trend for NexPoint Residential Trust Inc. Mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.87 on $63.21 million in revenues for the coming quarter and $3.42 on $253 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Residential is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, AvalonBay Communities (AVB), is yet to report results for the quarter ended March 2022. The results are expected to be released on April 27.This apartment building owner is expected to post quarterly earnings of $2.26 per share in its upcoming report, which represents a year-over-year change of +15.9%. The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level.AvalonBay Communities' revenues are expected to be $615.41 million, up 11.7% from the year-ago quarter. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NexPoint Residential Trust, Inc. (NXRT): Free Stock Analysis Report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 26th, 2022

Brown & Brown, Inc. announces quarterly revenues of $904.7 million, an increase of 11.0%, diluted net income per share of $0.77, Diluted Net Income Per Share - Adjusted of $0.78 and a quarterly dividend of $0.1025 per share

DAYTONA BEACH, Fla., April 25, 2022 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) (the "Company") today announced its unaudited financial results for the first quarter of 2022. Revenues for the first quarter of 2022 under U.S. generally accepted accounting principles ("GAAP") were $904.7 million, increasing $89.4 million, or 11.0%, compared to the first quarter of the prior year, with commissions and fees increasing by 11.1% and Organic Revenue increasing by 7.8%. Income before income taxes was $265.0 million, increasing 10.8% from the prior year with Income Before Income Taxes Margin remaining consistent with the prior year at 29.3%. EBITDAC - Adjusted was $323.3 million, increasing 11.1% from the prior year with EBITDAC Margin - Adjusted remaining consistent with the prior year at 35.7%. Net income was $220.3 million, increasing $20.6 million, or 10.3%, and diluted net income per share increased to $0.77, or 10.0% as compared to the first quarter of the prior year. Diluted Net Income Per Share - Adjusted increased to $0.78, or 11.4%, compared to the first quarter of the prior year.  J. Powell Brown, president and chief executive officer of the Company, noted, "We are very pleased with the strong results achieved for the first quarter of 2022. Our teammates continue to perform at a high level, delivering innovative solutions to our customers." In addition, the Company today announced that the Board of Directors has declared a regular quarterly cash dividend of $0.1025 per share. The dividend is payable on May 18, 2022, to shareholders of record on May 9, 2022. Reconciliation of Commissions and Fees to Organic Revenue Three Months Ended March 31, 2022 and 2021 (in millions, unaudited)       Three Months Ended       3/31/2022     3/31/2021   Commissions and fees   $ 904.3     $ 814.0   Profit-sharing contingent commissions     (28.6 )     (25.9 ) Core commissions and fees     875.7       788.1   Acquisitions     (29.3 )     —   Dispositions     —       (2.4 ) Foreign Currency Translation     —       (0.7 ) Organic Revenue   $ 846.4     $ 785.0   Organic Revenue growth   $ 61.4         Organic Revenue growth %     7.8 %       See information regarding non-GAAP measures presented later in this press release. Reconciliation of Diluted Net Income Per Share to Diluted Net Income Per Share - Adjusted Three Months Ended March 31, 2022 and 2021 (unaudited)       Three Months Ended     Change       3/31/2022     3/31/2021     $     %   Diluted net income per share   $ 0.77     $ 0.70     $ 0.07     10.0 % Change in estimated acquisition earn-out payables     (0.01 )     —       (0.01 )       (Gain)/loss on disposal     —       —       —         Acquisition/Integration Costs     0.02       —       0.02         Foreign Currency Translation     —       —       —         Diluted Net Income Per Share - Adjusted     0.78       0.70       0.08     11.4 % See information regarding non-GAAP measures presented later in this press release. Reconciliation of Total Revenues to Total Revenues - Adjusted, Income Before Income Taxes to EBITDAC - Adjusted and Income Before Income Taxes Margin to EBITDAC Margin - Adjusted Three Months Ended March 31, 2022 and 2021 (in millions, unaudited)       Three Months Ended       3/31/2022     3/31/2021   Total revenues   $ 904.7     $ 815.3   Foreign Currency Translation           (0.7 ) Total Revenues - Adjusted   $ 904.7     $ 814.6   Income before income taxes   $ 265.0     $ 239.2   Income Before Income Taxes Margin     29.3 %     29.3 % Amortization     31.1       29.5   Depreciation     8.1       7.5   Interest     18.3       16.3   Change in estimated acquisition earn-out payables     (3.4 )     (0.9 ) EBITDAC   $ 319.1     $ 291.6   EBITDAC Margin     35.3 %     35.8 % (Gain)/loss on disposal     (0.2 )     (0.2 ) Acquisition/Integration Costs     4.4       —   Foreign Currency Translation     —       (0.3 ) EBITDAC - Adjusted     323.3       291.1   EBITDAC Margin - Adjusted     35.7 %     35.7 % See information regarding non-GAAP measures presented later in this press release. Brown & Brown, Inc. Consolidated Statements of Income (in millions, except per share data; unaudited)       Three Months Ended March 31,     2022   2021 REVENUES             Commissions and fees   $ 904.3     $ 814.0   Investment income     0.2       0.3   Other     0.2       1.0   Total revenues     904.7       815.3   EXPENSES             Employee compensation and ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaApr 25th, 2022

What"s in Store for Mid-America Apartment (MAA) in Q1 Earnings?

Mid-America Apartment's (MAA) Q1 results are likely to reflect the improving demand for its apartment units, though the elevated supply might act as a deterrent. Mid-America Apartment Communities, Inc. MAA — commonly known as MAA — is slated to report first-quarter 2022 results on Apr 27 after market close. MAA’s quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share.The Germantown, TN-based residential real estate investment trust (REIT) delivered a surprise of 1.60% in terms of FFO per share in the last reported quarter. This residential REIT’s quarterly results were driven by a hike in the average effective rent per unit for the same-store portfolio.Over the trailing four quarters, MAA surpassed the Zacks Consensus Estimate on all occasions, the average being 2.65%. This is depicted in the chart below:MidAmerica Apartment Communities, Inc. Price and EPS Surprise MidAmerica Apartment Communities, Inc. price-eps-surprise | MidAmerica Apartment Communities, Inc. QuoteLet’s see how things have shaped up for the announcement.Factors to ConsiderFor the U.S. apartment market, the first quarter — typically a slow leasing period in other years — appears to be a solid one this year, with impressive demand for rental units, due to the pandemic that disrupted seasonal behavior.Per a report from the real estate technology and analytics firm, RealPage, the U.S. apartment market witnessed robust demand, with net demand for market-rate apartments aggregating a whopping 712,899 units nationally in the year ending the first quarter of 2022. This not only marks an 8% increase from the previous high a quarter earlier but also is 76% higher than the pre-pandemic-era highest established back in 2000. There is strong demand from young adults who are gaining from tight labor market conditions and record wage growth.As a result of the high demand, the apartment occupancy inched up 0.1 percentage point to 97.6% instead of seasonal cooling in the first quarter. Rent growth reached another all-time high, with the new lease effective asking rents increasing 15.2% year over year through March.With a well-diversified portfolio, MAA is likely to have benefited from this improving trend. The favorable in-migration trends of jobs and households in the Sun Belt submarkets are likely to have spurred demand and hiked the rent for MAA’s communities during the first quarter. Additionally, MAA’s focus on making strategic redevelopments augurs well.The Zacks Consensus Estimate for quarterly revenues is pegged at $473.3 million, suggesting an 11.4% rise from the year-ago quarter’s reported figure. Same-store revenues are projected at $465 million, indicating an increase from $444 million reported in the prior quarter and $407 million in the year-ago period.For the first quarter of 2022, MAA projected core FFO per share in the range of $1.83-$1.99.Before the first-quarter earnings release, the Zacks Consensus Estimate for the quarterly FFO per share has remained unrevised at $1.92 over the past month. However, this calls for year-over-year growth of 17.1%.The elevated supply might have put pressure on rental rates and affected the revenue growth tempo during the reported quarter.Here Is What Our Quantitative Model Predicts:Our proven model does not conclusively predict a surprise in terms of FFO per share for MAA this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an FFO beat. However, that’s not the case here.Earnings ESP: MAA has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: MAA currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.Stocks That Warrant a LookHere are three stocks from the residential REIT sector — Equity Residential EQR, Camden Property Trust CPT and Essex Property Trust, Inc. ESS — that you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter:Equity Residential, slated to release first-quarter earnings on Apr 26, has an Earnings ESP of +0.50% and a Zacks Rank of 3 at present.Camden Property Trust, scheduled to report quarterly figures on Apr 28, has an Earnings ESP of +1.25 % and a Zacks Rank of 2 currently.Essex Property Trust, slated to report quarterly numbers on Apr 26, has an Earnings ESP of +0.18% and carries a Zacks Rank of 3.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Equity Residential (EQR): Free Stock Analysis Report MidAmerica Apartment Communities, Inc. (MAA): Free Stock Analysis Report Essex Property Trust, Inc. (ESS): Free Stock Analysis Report Camden Property Trust (CPT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 23rd, 2022

Is a Beat in Store for AvalonBay (AVB) This Earnings Season?

AvalonBay's (AVB) Q1 results are likely to benefit from the improving demand for its apartment units due to the solid rebound in the residential real estate market. AvalonBay Communities, Inc. AVB is slated to report first-quarter 2022 earnings on Apr 27 after market close. The company’s quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share.In the last reported quarter, this residential real estate investment trust (REIT) delivered a surprise of 1.34% in terms of FFO per share. Results reflected a year-over-year increase in same-store residential revenues.Over the last four quarters, AvalonBay surpassed the Zacks Consensus Estimate on all occasions, the average beat being 1.99%. The graph below depicts the surprise history of the company:AvalonBay Communities, Inc. Price and EPS Surprise AvalonBay Communities, Inc. price-eps-surprise | AvalonBay Communities, Inc. QuoteLet’s see how things have shaped up before this announcement.Factors to ConsiderFor the U.S. apartment market, the first quarter — typically a slow leasing period in other years — appears to be a solid one this year, with impressive demand for rental units, due to the pandemic that disrupted seasonal behavior.Per a report from the real estate technology and analytics firm, RealPage, the U.S. apartment market witnessed robust demand, with net demand for market-rate apartments aggregating a whopping 712,899 units nationally in the year ending the first quarter of 2022. This not only marks an 8% increase from the previous high a quarter earlier but also is 76% higher than the pre-pandemic-era highest established back in 2000. There is strong demand from young adults who are gaining from tight labor market conditions and record wage growth.As a result of the high demand, the apartment occupancy inched up 0.1 percentage point to 97.6% instead of seasonal cooling in the first quarter. Rent growth reached another all-time high, with the new lease effective asking rents increasing 15.2% year over year through March.AvalonBay, with its high-quality assets in some of the premium markets of the country, is likely to have benefited from the favorable environment. Moreover, AVB is banking on technology, scale and organizational capabilities to drive innovation and margin expansion in its portfolio. It is also likely to retain its balance sheet strength.According to its operational update, AvalonBay witnessed improvements in the occupancy level and like-term effective rents through February. This residential REIT also reported a 7.3% increase in same-store residential rental revenues for two months ended Feb 28, 2022 compared with the prior-year period. This is roughly 60 basis points higher than the company’s initial expectation.In the first-quarter operating update, AvalonBay reported that the economic occupancy for its same-store residential communities improved to 96.4% in February from 96.3% in January. This also marked an increase from 96.2% in the fourth quarter of 2021.The like-term effective rent change for same-store residential communities improved to 12.7% in February from 12.4% in January. The figure also marked an increase from 11% in the fourth quarter. The like-term effective rent change for AVB’s suburban communities improved to 10.8% in February from 10.5% in January and 9.7% in the fourth quarter. In the case of urban communities, the like-term effective rent change improved to 17.5% from 16.9% in January and 14% in the fourth quarter.The Zacks Consensus Estimate of $615.4 million for first-quarter revenues suggests an 11.7% year-over-year increase.In the fourth-quarter earnings release, AvalonBay projected core FFO per share in the range of $2.14-$2.26 for the first quarter of 2022.The Zacks Consensus Estimate for the January-March quarter’s FFO per share has moved a cent upward to $2.26 over the past week. Also, it suggests a year-over-year increase of 15.9%.Here Is What Our Quantitative Model Predicts:Our proven model predicts a surprise in terms of FFO per share for AvalonBay this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.AvalonBay currently carries a Zacks Rank of 3 and has an Earnings ESP of +0.19%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Other Stocks That Warrant a LookHere are three other stocks from the residential REIT sector — Equity Residential EQR, Camden Property Trust CPT and Essex Property Trust, Inc. ESS — that you may want to consider as our model shows that these also have the right combination of elements to report a surprise this quarter:Equity Residential, slated to release first-quarter earnings on Apr 26, has an Earnings ESP of +0.50% and a Zacks Rank of 3 at present.Camden Property Trust, scheduled to report quarterly figures on Apr 28, has an Earnings ESP of +1.25% and a Zacks Rank of 2 currently. You can see the complete list of today’s Zacks #1 Rank stocks here.Essex Property Trust, slated to report quarterly numbers on Apr 26, has an Earnings ESP of +0.18% and carries a Zacks Rank of 3.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report Equity Residential (EQR): Free Stock Analysis Report Essex Property Trust, Inc. (ESS): Free Stock Analysis Report Camden Property Trust (CPT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 23rd, 2022

UDR to Report Q1 Earnings: What"s in the Cards for the Stock?

UDR is expected to deliver solid Q1 results by capitalizing on its diversified portfolio and technological initiatives. UDR Inc. UDR is slated to report first-quarter 2022 earnings on Apr 26 after market close. Results are likely to reflect growth in revenues and funds from operations (FFO) per share from the respective year-ago reported figures.In the last reported quarter, the FFO as adjusted per share of this Denver, CO-based residential real estate investment trust (REIT) came in line with the Zacks Consensus Estimate. There was an increase in revenues from rental income, fueling the quarter’s top line. Decent operating trends, strong pricing power and accretive transactions were also witnessed.In the last four quarters, UDR’s earnings met the Zacks Consensus Estimate on three occasions while missing the mark in the remaining one, the average negative surprise being 0.52%.United Dominion Realty Trust, Inc. Price and EPS Surprise United Dominion Realty Trust, Inc. price-eps-surprise | United Dominion Realty Trust, Inc. QuoteLet’s see how things have shaped up before this announcement.Factors to ConsiderFor the U.S. apartment market, the first quarter — typically a slow leasing period in other years — appears to be a solid one this year, with impressive demand for rental units, due to the pandemic that disrupted seasonal behavior.Per a report from the real estate technology and analytics firm, RealPage, the U.S. apartment market witnessed robust demand, with net demand for market-rate apartments aggregating a whopping 712,899 units nationally in the year ending the first quarter of 2022. This not only marks an 8% increase from the previous high a quarter earlier but also is 76% higher than the pre-pandemic-era highest established back in 2000. There is strong demand from young adults who are gaining from tight labor market conditions and record wage growth.As a result of the high demand, the apartment occupancy inched up 0.1 percentage point to 97.6% instead of seasonal cooling in the first quarter. Rent growth reached another all-time high, with the new lease effective asking rents increasing 15.2% year over year through March.UDR is likely to have gained from this improving trend with a geographically diverse portfolio and a superior product-mix of A/B quality properties in the urban and suburban markets. UDR’s portfolio comprises properties throughout the United States, including the coastal and Sunbelt locations. This strategy of maintaining a diversified portfolio across various geographies and price points limits volatility and concentration risks and helps UDR generate steady operating cash flows.UDR enjoys a decent balance sheet position and banks on technological moves and process enhancements to fuel growth. UDR focuses on enhancing cost control through its Next Generation Operating Platform. Such efforts to find efficiencies throughout its operating platform are likely to have boosted workforce productivity and residents’ experiences during the first quarter. The adoption of technology is also anticipated to have bolstered UDR’s margin during the period under review.The Zacks Consensus Estimate for quarterly revenues is currently pegged at $353.8 million, indicating an 18% year-over-year rise.In its fourth-quarter earnings release, UDR projected its first-quarter 2022 FFO as adjusted per share in the range of 53-55 cents.Before the first-quarter earnings release, the company’s activities were not adequate to gain analysts’ confidence. The Zacks Consensus Estimate for quarterly FFO per share has remained unchanged at 55 cents in the past month. However, this suggests year-over-year growth of 17.02%.However, significant exposure to the challenged urban residential assets where the flexible working environment is still denting demand might have hurt UDR’s rental rates and occupancy levels. An oversupply in its urban markets and pandemic-related regulatory challenges also add to its woes.Here Is What Our Quantitative Model Predicts:Our proven model does not conclusively predict a surprise in terms of FFO per share for UDR this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an FFO beat. However, that’s not the case here.Earnings ESP: UDR has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: UDR currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.Stocks That Warrant a LookHere are three stocks from the residential REIT sector — AvalonBay Communities, Inc. AVB, Camden Property Trust CPT and American Homes 4 Rent AMH — that you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter:AvalonBay Communities, slated to release first-quarter earnings on Apr 27, has an Earnings ESP of +0.46% and a Zacks Rank of 3 at present.Camden Property Trust, scheduled to report quarterly figures on Apr 28, has an Earnings ESP of +1.25 % and a Zacks Rank of 2 currently.American Homes 4 Rent, slated to report quarterly numbers on May 5, has an Earnings ESP of +0.76% and carries a Zacks Rank of 3.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report United Dominion Realty Trust, Inc. (UDR): Free Stock Analysis Report Camden Property Trust (CPT): Free Stock Analysis Report American Homes 4 Rent (AMH): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksApr 21st, 2022

Is a Beat in Store for Essex Property (ESS) in Q1 Earnings?

Essex Property's (ESS) Q1 performance is likely to have gained on an improvement in market conditions, a decline in same-property cash delinquencies and high occupancy. Essex Property Trust, Inc. ESS is scheduled to report first-quarter 2022 earnings on Apr 26 after the closing bell. The company’s results are likely to reflect year-over-year growth in revenues and funds from operations (FFO) per share.In the last reported quarter, this San Mateo, CA-based residential real estate investment trust (REIT) delivered a surprise of 0.62% in terms of FFO per share. Results reflected improving rent growth amid the recovering economic conditions.Over the trailing four quarters, Essex Property surpassed the Zacks Consensus Estimate on each occasion, the average surprise being 0.98%. The graph below depicts the surprise history of the company:Essex Property Trust, Inc. Price and EPS Surprise Essex Property Trust, Inc. price-eps-surprise | Essex Property Trust, Inc. QuoteLet’s see how things have shaped up before this announcement.Factors to ConsiderFor the U.S. apartment market, the first quarter — typically a slow leasing period in other years — appears to be a solid one this year, with impressive demand for rental units, due to the pandemic that disrupted seasonal behavior.Per a report from the real estate technology and analytics firm, RealPage, the U.S. apartment market witnessed robust demand, with net demand for market-rate apartments aggregating a whopping 712,899 units nationally in the year ending the first quarter of 2022. This not only marks an 8% increase from the previous high a quarter earlier but also is 76% higher than the pre-pandemic-era highest established back in 2000. There is strong demand from young adults who are gaining from tight labor market conditions and record wage growth.As a result of the high demand, the apartment occupancy inched up 0.1 percentage point to 97.6% instead of seasonal cooling in the first quarter. Rent growth reached another all-time high, with the new lease effective asking rents increasing 15.2% year over year through March.Essex Property has a sturdy property base and substantial exposure to the West Coast market and banks on its technology, scale and organizational capabilities to drive innovation and margin expansion in the portfolio. This residential REIT is also likely to have benefited from its improving fundamentals.The Zacks Consensus Estimate of $376.3 million for first-quarter revenues calls for a 5.96% increase year over year. The consensus estimate for same-property revenues is pegged at $338 million, up from $330 million reported in the prior quarter and $318 million in the year-ago period.This residential REIT is also likely to have maintained a decent balance sheet and financial flexibility during the quarter under review.In its fourth-quarter earnings release, ESS projected first-quarter 2022 core FFO per share in the range of $3.24-$3.36.However, the outmigration trend of population and business from its markets emerged as a concern. The oversupply in its urban markets and pandemic-related regulatory challenges also add to its woes.Before the quarterly earnings release, analysts do not seem optimistic about the company’s prospects as the Zacks Consensus Estimate for the January-March quarter’s FFO per share has moved south by a cent to $3.34 over the past week. However, it suggests a year-over-year increase of 8.8%.Here Is What Our Quantitative Model Predicts:Our proven model predicts a surprise in terms of FFO per share for Essex Property this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is the case here.Essex Property currently carries a Zacks Rank of 3 and has an Earnings ESP of +0.28%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Stocks That Warrant a LookHere are three other stocks from the residential REIT sector — AvalonBay Communities, Inc. AVB, Camden Property Trust CPT and American Homes 4 Rent AMH — that you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter:AvalonBay Communities, slated to release first-quarter earnings on Apr 27, has an Earnings ESP of +0.46% and a Zacks Rank of 3 at present.Camden Property Trust, scheduled to report quarterly figures on Apr 28, has an Earnings ESP of +1.25 % and a Zacks Rank of 2 currently.American Homes 4 Rent, slated to report quarterly numbers on May 5, has an Earnings ESP of +0.76% and carries a Zacks Rank of 3.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report Essex Property Trust, Inc. (ESS): Free Stock Analysis Report Camden Property Trust (CPT): Free Stock Analysis Report American Homes 4 Rent (AMH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 21st, 2022

What"s in Store for Equity Residential (EQR) in Q1 Earnings?

Equity Residential's (EQR) Q1 results are likely to benefit from the improving demand for its apartment units due to the solid rebound in the residential real estate market. Equity Residential EQR is slated to report first-quarter 2022 earnings on Apr 26 after the closing bell. The company’s quarterly results are likely to reflect growth in revenues and funds from operations (FFO) per share.In the last reported quarter, this Chicago, IL-based residential real estate investment trust (REIT) delivered a surprise of 2.50% in terms of FFO per share. Results highlighted strong physical occupancy and a substantial improvement in pricing power.Over the trailing four quarters, Equity Residential surpassed the Zacks Consensus Estimate on three occasions and met the same on the other, the average surprise being 4.15%. The graph below depicts this surprise history:Equity Residential Price and EPS Surprise Equity Residential price-eps-surprise | Equity Residential QuoteLet’s see how things have shaped up for EQR before this announcement.Key FactorsFor the U.S. apartment market, the first quarter — typically a slow leasing period in other years — appears to be a solid one this year, with impressive demand for rental units, due to the pandemic that disrupted seasonal behavior.Per a report from the real estate technology and analytics firm, RealPage, the U.S. apartment market witnessed robust demand, with net demand for market-rate apartments aggregating a whopping 712,899 units nationally in the year ending first-quarter 2022. This not only marks an 8% increase from the previous high a quarter earlier but also is 76% higher than the pre-pandemic-era highest established back in 2000. There is strong demand from young adults who are gaining from tight labor market conditions and record wage growth.As a result of the high demand, the apartment occupancy inched up 0.1 percentage point to 97.6% instead of seasonal cooling in the first quarter. Rent growth reached another all-time high, with new lease effective asking rents increasing 15.2% year over year through March.Equity Residential is expected to benefit from this improving trend due to its portfolio diversification in the urban and suburban markets. It has a healthy balance sheet and banks on technology, scale and organizational capabilities to drive growth.The Zacks Consensus Estimate for the company’s quarterly revenues stands at $658.07 million, indicating a 10.12% increase year over year. The consensus estimate for total same-store revenues is currently pegged at $627 million, indicating growth from $612 million in the prior quarter and $593 million in the year-ago period.The Zacks Consensus Estimate for the January-March quarter’s FFO per share has remained unrevised at 80 cents over the past month. However, it suggests a year-over-year increase of 17.6%.For the first quarter of 2022, Equity Residential projected normalized FFO per share in the band of 76-80 cents.Here Is What Our Quantitative Model Predicts:Equity Residential has the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or higher — for increasing the odds of an earnings beat.Earnings ESP: EQR has an Earnings ESP of +0.50%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Equity Residential currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Stocks That Warrant a LookHere are three other stocks from the residential REIT sector — AvalonBay Communities, Inc. AVB, Camden Property Trust CPT and American Homes 4 Rent AMH — that you may want to consider as our model shows that these have the right combination of elements to report a surprise this quarter:AvalonBay Communities, slated to release first-quarter earnings on Apr 27, has an Earnings ESP of +0.46% and a Zacks Rank of 3 at present.Camden Property Trust, scheduled to report quarterly figures on Apr 28, has an Earnings ESP of +1.25 % and a Zacks Rank of 2 (Buy) currently.American Homes 4 Rent, slated to report quarterly numbers on May 5, has an Earnings ESP of +0.76% and carries a Zacks Rank of 3.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report Equity Residential (EQR): Free Stock Analysis Report Camden Property Trust (CPT): Free Stock Analysis Report American Homes 4 Rent (AMH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 21st, 2022

Wolters Kluwer 2022 Annual General Meeting of Shareholders adopts all resolutions

 Wolters Kluwer 2022 Annual General Meeting of Shareholders adopts all resolutions Shareholders approve a total dividend of €1.57 per ordinary share April 21, 2022 – Wolters Kluwer (AEX: WKL), a leading global provider of expert solutions, insights and services for professionals, announces that all resolutions were adopted as proposed at today's Annual General Meeting of Shareholders (AGM). "In 2021, Wolters Kluwer delivered strong financial results and advanced on several ESG fronts," said Nancy McKinstry, CEO and Chair of the Executive Board at the AGM. "We developed our new three-year strategic plan which will see us take steps in coming years to accelerate our expert solutions, expand our reach and evolve our core capabilities." Changes in the Supervisory BoardThe Supervisory Board has appointed Ms. Ann Ziegler as new Chair of the Supervisory Board. She will succeed Mr. Frans Cremers, who has retired from the Supervisory Board at the end of this Annual General Meeting. Mr. Jack de Kreij will succeed Ms. Ziegler as Vice-Chair of the Supervisory Board. Ms. Heleen Kersten has been appointed as new member of the Supervisory Board for a term of four years. She will succeed Mr. Cremers as member of the Selection and Remuneration Committee. The Supervisory Board members represent a diversity of nationality, experience, talent, and expertise. Four (57%) of the seven Supervisory Board members are female. 2021 Financial Statements and DividendShareholders voted to adopt the Financial Statements for 2021 as included in the 2021 Annual Report and approved a total dividend of €1.57 per ordinary share, resulting in a final dividend of €1.03 per ordinary share, payable in May 2022. The cash dividend will be paid net of 15% dividend withholding tax where applicable. RemunerationThe 2021 remuneration report, including an overview of remuneration ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaApr 21st, 2022