Real Estate & Construction · Week of Nov 2, 2026
Tariff refunds, a housing pullback and condo contracts: the week
Third-quarter results from Stanley Black & Decker and Ares Commercial Real Estate, a cooling October housing report, and three FirstService contract wins.
Quarterly earnings led the week. Stanley Black & Decker says net IEEPA tariff refunds added about $0.67 to third-quarter EPS and lifted gross margin, and it raised 2026 EPS and free cash flow guidance. Ares Commercial Real Estate reported higher GAAP net income on the sale of a real estate owned office property, repaid a $90 million term loan after quarter end and declared a $0.15 dividend. Its credit loss reserve rose from year-end 2025.
On the housing side, Realtor.com says buyers pulled back in October as 30-year mortgage rates averaged 7.33%. Homes under contract fell 10.5% year over year while active inventory grew. In property services, FirstService Residential announced three management contracts in Florida, Maryland and Pennsylvania. Otis said two of its elevators at Tianjin 117 received a Guinness World Records title.
Stanley Black & Decker, Inc.
Stanley Black & Decker Reports 3Q 2026 Results
Stanley Black & Decker reported third-quarter 2026 net sales of $3.7 billion, down 1% in total and up 4% organically, with diluted EPS of $1.83 and adjusted EPS of $2.31, both including about $0.67 from net IEEPA tariff refunds. The company raised 2026 GAAP EPS guidance to $5.45 to $5.85, raised free cash flow guidance to $1.0 billion to $1.2 billion, and its Board approved a new $1 billion share repurchase authorization on October 29, 2026.
Ares Commercial Real Estate Corp
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS
Ares Commercial Real Estate reported third-quarter 2026 GAAP net income of $10.0 million, or $0.18 per diluted share, and Distributable Earnings of $6.7 million, or $0.12, including a $7,082 thousand gain on the sale of a real estate owned office property. Its current expected credit loss reserve rose to $139,325 thousand at September 30, 2026 from $125,756 thousand at December 31, 2025, and the company says it is reducing office and real estate owned exposure.
Ares Commercial Real Estate Corporation
ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS THIRD QUARTER 2026 RESULTS
A second Ares Commercial Real Estate release, dated Nov. 6, 2026, repeats the third-quarter figures and says the company fully repaid and terminated its $90 million secured term loan after quarter end. It adds that the fourth quarter 2026 dividend of $0.15 per common share is payable January 15, 2027 to stockholders of record as of December 31, 2026.
Realtor.com
Active Inventory Grows as Sellers Keep Homes on the Market: Realtor.com® October Housing Report
Realtor.com says October 2026 new listings fell 7.5% year over year to 357,000, while active listings rose 7.4% to 1,183,500 and the national median list price fell 2.2% to $415,000, the 12th straight annual decline. Homes under contract fell 10.5%, the steepest annual drop since October 2023, as 30-year mortgage rates averaged 7.33%, while delisting rates and price-cut shares stayed near last year's levels.
Otis Worldwide Corporation
Otis Receives Guinness World Records™ Title for Tallest Elevator at Tianjin 117
Otis says two of its SkyRise elevators at Tianjin 117 in China, rising 597.2 meters, received the Guinness World Records title for "Tallest Elevator in a Building." The company is supplying all 266 elevators and escalators for the 117-story tower, which is scheduled for completion by the end of 2027 and includes what Otis says is its largest number of double-deck elevators in any building.
Firstservice Residential, Inc.
FirstService Residential selected for Sarasota's historic Mira Mar redevelopment
FirstService Residential was selected by Seaward Development to provide property management and lifestyle and amenities management for Mira Mar Sarasota, a development of 70 residences in two 18-story towers that includes restoration of the historic 1922 Mira Mar building. Residences range from about 3,200 to 6,000 square feet with pricing beginning in the high $3 million range, and the release does not state when services begin.
FirstService Residential
FirstService Residential Selected to Manage Scarlett Place Condominium in Baltimore
FirstService Residential says it was selected to provide full-service property management for Scarlett Place Condominium, a high-rise overlooking Baltimore's Inner Harbor. The release says the community is now managed by the company but gives no start date or contract terms.
FirstService Residential
FirstService Residential Expands in Pennsylvania, Welcoming The Highlands Community Association
FirstService Residential says it was selected to provide full-service property management for The Highlands Community Association in Chalfont, Pennsylvania, in Bucks County. The release gives no contract terms, community size or previous manager.
This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Times Beats reporting.