AH Realty Trust, Inc. (AHRT) · Nov 2, 2026 · Earnings

AH Realty Trust earnings beat as 2026 FFO guidance rises

Beat — FFO/share $0.16 vs ~$0.14 consensus

AH Realty Trust earnings modestly beat on adjusted FFO and lifted 2026 guidance, though revenue missed consensus and AFFO declined.

AH Realty Trust is midway through a deliberate shift into a simpler retail-and-mixed-use office REIT, selling multifamily and real-estate-financing assets while using proceeds to reduce debt. The quarter supports the operating core, but the balance sheet and portfolio transition remain the larger story.

Core earnings modestly beat the market bar. Adjusted FFO was $0.16 per diluted share, ahead of the roughly $0.14 published consensus, while same-store cash NOI grew 6.8% in retail and 5.2% in office. The beat is real, but not dramatic: total revenue of $52.3 million trailed the roughly $53.6 million consensus, and GAAP loss per share was $0.07 versus an external estimate of about $0.05.

Metric	Q3 2026	Comparison	Consensus
Adjusted FFO/share (Highlights)	$0.16	Q2 2026: $0.14	~$0.14
Revenue (Summary Income Statement)	$52.3M	Q3 2025: $53.1M	~$53.6M
AFFO/share (FFO & AFFO)	$0.15	Q2 2026: $0.18
Retail same-store cash NOI (Same Store NOI by Segment)	6.8%	Q3 2025: 2.9%
Office same-store cash NOI (Same Store NOI by Segment)	5.2%	Q3 2025: 8.3%
FY2026 adjusted FFO/share guidance (Revised Outlook)	$0.57-$0.59	Prior: $0.53-$0.57

The guidance raise is the clearest positive change. Full-year adjusted FFO guidance moved to $0.57-$0.59 per share from the prior $0.53-$0.57 range, reflecting better same-store NOI, share repurchases, and continued portfolio simplification. This is a modest improvement rather than a reset of the company’s trajectory: management still expects no acquisitions in 2026 and is relying on asset-sale proceeds for roughly $57 million of secured and $100 million of unsecured debt paydowns.

Property execution is healthy, but uneven. Retail leasing was particularly strong, with 16.5% cash spreads on new leases and 5.8% on renewals. Office new leases produced a strong 23.3% cash spread, but office renewal spreads were only 1.5%, and office economic occupancy fell to 89.6% from 90.5% in the prior quarter. That makes the quarter supportive of rent growth, not proof that the office portfolio has fully stabilized.

The balance-sheet repair is progressing, though leverage remains elevated. Net debt declined to about $997 million and net debt to adjusted EBITDAre held at 7.1x, while the October 28 credit-facility recast and new swaps are expected to take fixed or hedged debt to 100%. That reduces refinancing and interest-rate exposure, but it does not eliminate the underlying leverage burden; the improvement depends on completing the remaining asset sales and applying proceeds as planned.

The transition is still costing reported earnings. AHRT posted a $6.6 million net loss attributable to common stockholders and OP unitholders, versus a $3.6 million loss a year ago, while discontinued operations produced a $3.3 million quarterly loss. Those items are largely tied to disposing of non-core businesses and assets, so adjusted FFO is the better operating measure—but they show the cleanup is not frictionless.

Bottom line: This is a modestly better quarter for AHRT’s operating story: adjusted FFO beat and guidance rose, supported by solid retail and new-lease execution. The improvement is limited by softer revenue, lower AFFO, office occupancy pressure, and still-high leverage during the asset-sale transition.

What to watch next

Completion of remaining asset sales and debt paydowns by year-end

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

Bull 58%Neu 27%Bear 15%

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AH Realty Trust earnings beat as 2026 FFO guidance rises

What to watch next

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