Latest news with #EncoreBostonHarbor
Yahoo
17-07-2025
- Business
- Yahoo
Wynn Resorts' Quarterly Earnings Preview: What You Need to Know
Las Vegas, Nevada-based Wynn Resorts, Limited (WYNN) designs, develops, and operates integrated resorts. With a market cap of $11.6 billion, the company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The resort titan is expected to announce its second-quarter earnings for 2025 after the market closes on Thursday, August 7. Ahead of the event, analysts expect WYNN to report a profit of $1.22 per share on a diluted basis, up 8.9% from $1.12 per share in the year-ago quarter. The company beat the consensus estimates in one of the last four quarters while missing the forecast on three other occasions. More News from Barchart Dear Google Stock Fans, Mark Your Calendars for July 23 Dear UnitedHealth Stock Fans, Mark Your Calendars for July 29 Peter Thiel Is Betting Big on This Ethereum Treasury Stock. Should You Buy Shares Now? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For the current year, analysts expect WYNN to report EPS of $4.75, down 21.1% from $6.02 in fiscal 2024. However, its EPS is expected to rise 5.5% year over year to $5.01 in fiscal 2026. Over the past year, WYNN shares have surged 27.8%, outperforming the S&P 500's ($SPX) 10.5% gains and the Consumer Discretionary Select Sector SPDR Fund's (XLY) 12.7% gains over the same time frame. WYNN stock grew marginally following the release of its Q1 results on May 6. The company's revenues decreased 8.7% year-over-year to $1.7 billion, missing the Street's expectations, primarily due to a decline in revenue contributions across segments and properties in Macau, Las Vegas, and Boston. Moreover, its adjusted EPS of $1.07 missed the consensus estimates by 12.3%. Analysts' consensus opinion on WYNN stock is highly upbeat, with a 'Strong Buy' rating overall. Out of 15 analysts covering the stock, 11 advise a 'Strong Buy' rating, one suggests 'Moderate Buy,' and three suggest a 'Hold.' WYNN's average analyst price target is $111.75, indicating a 1.7% potential upside from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
01-07-2025
- Business
- Globe and Mail
Can Realty Income's Expansion Into New Sectors Fuel Future Growth?
Realty Income O, a leader in net lease real estate, is expanding beyond traditional U.S. retail into high-value sectors and international markets, strengthening its growth trajectory and defensive positioning. With more than 15,600 properties across eight countries, the REIT leverages scale, diversification, and disciplined underwriting to drive long-term value. The company's strategy emphasizes sectoral and geographic diversification. In recent years, Realty Income has entered gaming with a $1.7 billion acquisition of Encore Boston Harbor and a $650 million preferred equity investment in Bellagio Las Vegas. In data infrastructure, it committed $200 million via a joint venture with Digital Realty, gaining exposure to Northern Virginia's data center hub. International expansion is also a key. Since 2019, nearly 30% of sourced volume has come from international markets, mainly Europe, where public net lease REIT competition is limited. From 2020 to 2024, Realty Income sourced $335 billion in opportunities and acquired $31 billion through a selective, analytics-driven approach. Its global addressable market now stands at an estimated $14 trillion. In first-quarter 2025, Realty Income invested $1.4 billion at a 7.5% cash yield, $893 million in Europe (7.0%) and $479 million in the United States (8.3%). It now expects full-year 2025 investments to total $4 billion. With a 5% AFFO CAGR since 1996 and stable EBITDA margins, Realty Income's platform offers a compelling mix of income stability and growth. Long leases, strong tenant credit, and a scalable capital base further support its global expansion strategy. Where are Other Retail REITs Investing? Simon Property Group SPG is revamping its portfolio with premium acquisitions and transformative redevelopments. It recently acquired Swire Properties' stake in the retail and parking component at Brickell City Centre, which is a mixed-use property in Miami. SPG earlier owned a 25%, non-managing interest in the retail at Brickell City Centre and now has secured full ownership and operational control. The retail REIT also has ongoing expansion efforts across geographies through new anchors, big-box tenants, and restaurants. Kimco Realty KIM is pursuing opportunistic investments to strengthen its portfolio. In first-quarter 2025, it acquired The Markets at Town Center in Jacksonville for $108 million and two shopping center fee interests for $24.2 million. The RPT acquisition boosted scale in key markets. For 2025, Kimco plans $100-$125 million in acquisitions and similar spending on redevelopment efforts. O's Price Performance, Valuation and Estimates Shares of Realty Income have risen 7.9% year to date against the industry 's decline of 8.8%. From a valuation standpoint, O trades at a forward 12-month price-to-FFO of 13.23, below the industry. It carries a Value Scor e of D. The Zacks Consensus Estimate for O's funds from operations (FFO) per share has been revised marginally upward over the past 30 days. At present, Realty Income carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See 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 Simon Property Group, Inc. (SPG): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report
Boston Globe
05-05-2025
- Business
- Boston Globe
Krafts pledge more development will follow soccer stadium in Everett
Advertisement 'We've had people from outside of Massachusetts trying to get us to move the team,' Robert Kraft said. 'But we want to be here in this state, and do something really cool and creative.' Jonathan Kraft said that if the Krafts go ahead with the project, it would open up a fenced-off waterfront for yearlong public access, not to mention future development opportunities in this part of Everett, also home to Wynn's Encore Boston Harbor casino. He noted how the Kraft family Since then, the Krafts have additionally invested well over twice that amount in the stadium and surrounding properties, Jonathan Kraft said, pointing to the adjacent Patriot Place retail development and upgrades to the stadium, currently shared by the Pats and Revs. Advertisement 'If we're fortunate enough to be able to build this stadium, I'm confident that working together with the community of Everett and the political leaders, that this will only be the beginning,' Jonathan Kraft said. 'There will be more investment that follows.' They left the building without taking comments, leaving Revs president Brian Bilello and vice president Cathal Conlon to talk about the project's details. Bilello said the stadium could host concerts for up to 30,000 people, high-profile soccer games outside of Major League Soccer, and community events and festivals. 'There's really no end [to] how we could use the facility,' he said. Planning for the stadium is still in the early stages. The first step was removing the 43-acre site from a state regulated zone known as a Designated Port Area, where only marine industrial developments can occur; the state Legislature DeMaria hosted last week's meeting, and tried to limit discussions to comments about what people want to see in Everett's community impact agreement. The most frequent concern raised was the potential traffic issues on game days, although there would be only minimal parking on the stadium site itself — echoing similar concerns raised by nearby Boston residents. DeMaria expressed optimism that most game attendees would Advertisement DeMaria brushed away calls from a few critics in the audience to hold a citywide referendum over whether the stadium should be built, saying the Krafts' proposal is the best use that the city could hope for to clean up and reuse the site. City councilor Michael Marchese said that what Everett really needs is more tax revenue, much like the millions that used to flow each year into the city's coffers from the power plant during its heyday. (The annual amount the Krafts would contribute to the city hasn't been determined yet.) 'Those ugly towers, which nobody likes, they supported the city pretty damn well over the last 100 years,' Marchese said. 'I just want to see what the trickle-down part is for us, the people of Everett. ... It looks fantastic [but] we need to make money also, not just the billionaires.' Stephanie Ebbert of the Globe staff contributed to this report. Jon Chesto can be reached at
Boston Globe
12-03-2025
- Business
- Boston Globe
Public transit, traffic, parking: Charlestown residents share concerns, priorities with Wu over proposed Everett stadium
Related : 'We have to leverage the stadium for what it is, we have to leverage it for fixing the road systems,' said one resident. Advertisement Speaking to the crowd Tuesday, Wu emphasized the importance of public input as her administration bargains over what benefits the Kraft Group will agree to provide Boston residents in order to get the city's sign off on the project. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'We need to make sure that the community that's most impacted by this proposal is right here with us, sharing what you're thinking, how you're feeling, how the other impacts that are already happening in the neighborhood have to be factored in,' Wu said. A While the project site, currently a shuttered power plant, is located in Everett, much of the traffic that would flow to the proposed stadium for games, concerts, and other events would go through Charlestown, just across the Mystic River from the 43-acre site. Everett Mayor Carlo DeMaria has been in conversations with the Kraft Group over the proposal, and signed a preliminary agreement with the team in November 2023. But state lawmakers included Boston in the legislation passed in November, in response to concerns that the Wu administration was left out of those discussions. Advertisement Wu has argued the stadium, which currently only includes plans for about 75 parking spots, would have a significant impact on Charlestown, particularly on its transportation infrastructure and increased traffic at the Sullivan Square MBTA station. City officials at Tuesday's meeting said the administration is prioritizing securing investments related to transportation, open space, coastal resilience, and benefits for local businesses and the community, in the mitigation agreement. Related : State Representative Daniel J. Ryan and state Senator Sal DiDomenico, both Democrats who represent Charlestown on Beacon Hill, also attended the meeting, along with Boston City Councilor Gabriela Coletta Zapata, whose district includes Charlestown. The Globe previously reported that negotiations between the Revs and the city of Boston have gotten off to a tense start as a state-imposed deadline looms. The preliminary agreement DeMaria signed with the Kraft Group only includes an offer of $750,000 for improvements to Charlestown athletic fields. The Wu administration called that an inadequate starting point, particularly when taking into account a $68 million deal the city reached with the nearby Encore Boston Harbor casino nine years ago. According to the statewide legislation passed in November, the two sides must come to a deal by May 1, at which point a mediator would get involved. If the parties don't come to an agreement by Dec. 31, it'll go to an arbitration panel. But on Tuesday, Wu said she didn't have much of an update on those discussions to share with residents. 'Things really haven't kicked off very much in terms of substantive conversations, because there really hasn't been that much to discuss from the project proponents: We haven't really seen specific details,' Wu said. 'To this date, I still have not gotten a call from the Krafts. ... There's been just radio silence.' Advertisement Wu added that her team has had two meetings with the Kraft Group, and conversations are continuing, but her administration is waiting on more details. In the meantime, they intend to take community feedback and use that to inform what benefits the city pushes for in the agreement. 'I am not sold on a soccer stadium for the sake of soccer stadium,' Wu said. 'I would welcome this one, if we can get the transportation impacts right, if we can get them again to sign a legally binding agreement that does right by Charlestown residents and Boston residents. I hope we can get there.' A representative for the Kraft Group and the New England Revolution did not immediately return the Globe's request for comment. Longtime philanthropist Josh Kraft, the third son of Patriots and Revs' owner Robert Kraft, is challenging Wu as she runs for reelection this year. Kraft has said he would recuse himself from any negotiations involving his family's businesses should he become mayor of Boston. Wu, speaking on GBH's 'Boston Public Radio' Tuesday morning had a more curt response when asked what she would do in Kraft's position. 'I would stay working for my father,' she said. Jon Chesto of the Globe staff contributed to this report. Niki Griswold can be reached at
