Filing Flows › Hines Global Income Trust (HGIT) › Q1 2026 › vs Q4 2025
Hines Global Income Trust (HGIT) Q1 2026 vs Q4 2025 (quarter over quarter)
Hines Global Income Trust's revenue rose $9.0M (+7%) from $124M in Q4 2025 to $133M in Q1 2026. The biggest changes: Retail Investments +$3.6M (+17%); Office Real Estate Investments +$3.5M (+16%); Industrial Investments +$2.4M (+7%). Gross margin 61.4% against 61.4% (+0.0 pts).
Hines Global Income Trust, Q1 2026: revenue $133M (+42% year over year), operating margin 5.6%, net earnings $39.8M, operating cash flow −$24.9M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 61.4% | 61.4% | +0.0 pts |
| Operating margin | 5.6% | -4.2% | +9.8 pts |
| Net margin | 29.9% | -41.4% | +71.3 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Residential/Living Investments | $39.6M | $39.0M | $633K | +2% |
| Industrial Investments | $35.0M | $32.6M | $2.4M | +7% |
| Retail Investments | $25.3M | $21.6M | $3.6M | +17% |
| Office Real Estate Investments | $25.0M | $21.5M | $3.5M | +16% |
| Other Investment | $8.0M | $9.2M | −$1.2M | -13% |
| Revenue | $133M | $124M | $9.0M | +7% |
| Gross profit | $81.6M | $76.1M | $5.5M | +7% |
| Cost of revenue | $51.2M | $47.8M | $3.5M | +7% |
| Other income, net | $32.5M | −$45.3M | $77.8M | — |
| Operating profit | $7.4M | −$5.2M | $12.7M | — |
| Operating expenses | $74.2M | $81.3M | −$7.1M | -9% |
| Pre-tax earnings | $40.0M | −$50.5M | $90.5M | — |
| General & admin | $1.9M | $3.3M | −$1.5M | -44% |
| Other operating costs | $72.3M | $78.0M | −$5.7M | -7% |
| Net earnings | $39.8M | −$51.3M | $91.0M | — |
| Income tax | $174K | $734K | −$560K | -76% |
| Operating cash sources | $120M | −$1.6M | $121M | — |
| Depreciation & amortization | $55.2M | $56.2M | −$993K | -2% |
| Cash used in operations | $24.9M | −$6.5M | $31.4M | — |
| Working capital & other | $120M | −$1.6M | $121M | — |
Questions
How much did Hines Global Income Trust's revenue grow quarter over quarter in Q1 2026?
Hines Global Income Trust's revenue rose $9.0M (+7%) from $124M in Q4 2025 to $133M in Q1 2026.
What drove Hines Global Income Trust's revenue change in Q1 2026?
Retail Investments +$3.6M (+17%); Office Real Estate Investments +$3.5M (+16%); Industrial Investments +$2.4M (+7%).