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Hines Global Income Trust (HGIT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Hines Global Income Trust (HGIT) Q2 2026 earnings results →
Q2 2026 Revenue up 28% year over year to $130M · 7¢ of every $1 of revenue lost · operating margin 5.1%
Hines Global Income Trust made $130M in Q2 2026 (+28% Y/Y): Residential/Living Investments $39.0M, Industrial Investments $34.7M, Office Real Estate Investments $23.9M. Operating margin 5.1%, net loss $9.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
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What changed this quarter
Revenue was $129.8M in Q2 2026, up 28% year over year and down 2% from the previous quarter. Residential/Living Investments was the largest line at 30% of revenue. Retail Investments added $13.0M year over year (up 120%), 45% of the total change. Other Investment declined 9%.
Gross margin was 60.8%, down 3.7 points from Q2 2025. Operating profit was $6.7M, a 5.1% margin (down 1.1 points year over year). Of the extra revenue versus Q2 2025, 1% reached operating profit, below the 6% margin then. Operating expenses grew 23% against revenue growth of 28%. The fastest-growing cost line was General & admin (+53%). The quarter ended with a net loss of $9.5M, after a profit of $39.8M the previous quarter. Minority interests bore $618K of it: to shareholders the quarter was a loss of $8.9M. Net interest and other expense of $16.2M was the main reason.
Operating cash flow was $33.4M (up 298% year over year). Non-cash charges added back $51.0M of depreciation and amortization. Working capital and other items used $8.1M. Capital expenditures of $10.7M left free cash flow of $22.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $130M | +28% | 5.1% | −$9.5M | $33.4M |
| Q1 2026 | 10-Q | May 14, 2026 | $133M | +42% | 5.6% | $39.8M | −$24.9M |
| Q4 2025 | 10-K | Mar 30, 2026 | $124M | +37% | -4.2% | −$51.3M | $6.5M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $107M | +23% | 8.8% | −$20.1M | $30.6M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $101M | +17% | 6.2% | −$26.3M | $8.4M |
| Q1 2025 | 10-Q | May 14, 2025 | $93.6M | +10% | 13.4% | $115M | $9.1M |
| Q4 2024 | 10-K | Mar 26, 2025 | $90.4M | +9% | 13.1% | −$11.3M | $12.5M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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📈Investments: gains and what it boughtinteractive
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About Hines Global Income Trust
Hines Global Income Trust, Inc. (“Hines Global”), is a Maryland corporation formed in 2013 for the purpose of raising capital through public stock offerings and investing in a diversified portfolio of quality commercial real estate properties and other real estate investments located throughout the United States and internationally, and to a lesser extent, invest in real-estate related securities. Hines Global is sponsored by Hines, a fully integrated global real estate investment and management firm that has acquired, developed, owned, operated and sold real estate for over 68 years.
In its own words, from its 10-K, filed Mar 30, 2026.
Hines Global Income Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +28% against the peers' median +14%. Operating margin: 5.1% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HGIT Hines Global Income Trust | Q2 2026 | $130M | +28% | 5.1% |
| WELL Welltower | Q3 2026 | $3.7B | +38% | 9.1% |
| AMT American Tower | Q3 2026 | $2.8B | +2% | 45.6% |
| EQIX Equinix | Q3 2026 | $2.6B | +11% | 23.3% |
| PLD Prologis | Q1 2026 | $2.3B | +7% | 52.7% |
| IRM Iron Mountain | Q3 2026 | $2.0B | +14% | 20.6% |
| DLR Digital Realty Trust | Q3 2026 | $1.9B | +21% | 15.9% |
| WY Weyerhaeuser | Q3 2026 | $1.9B | +8% | 5.4% |
| VTR Ventas | Q3 2026 | $1.8B | +23% | 2.9% |
Source: Hines Global Income Trust 10-Q on SEC EDGAR · CIK 1585101 · Real Estate Investment Trusts
More on HGIT
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results