Third-quarter results and buybacks lead the week in real estate

Third-quarter earnings made up most of the week's releases. Stanley Black & Decker and Sunstone Hotel Investors both raised full-year 2026 guidance and reported share repurchases. Stanley Black & Decker's Board approved a new $1 billion authorization, and Sunstone reported $117.8 million of common and preferred stock repurchased in the quarter. NNN REIT maintained its Core FFO and AFFO guidance and raised its disposition volume outlook. Ares Commercial Real Estate reported higher GAAP net income and said it repaid a $90 million secured term loan after the quarter. Sunstone and Ares Commercial Real Estate both declared dividends payable January 15, 2027.

Outside earnings, Realtor.com's October report showed new listings down 7.5% and homes under contract down 10.5% year over year, with 30-year mortgage rates averaging 7.33%. Project news came from Otis Worldwide, which received a Guinness World Records title for the tallest elevator in a building at Tianjin 117. FirstService Residential was selected to manage the 70-residence Mira Mar Sarasota development in Florida.