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Jackson Hsieh, vice chairman at Morgan Stanley, joined REIT.com for a video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
In the March/April edition of REIT magazine, Hsieh said that while the market for traditional IPOs is still open, the bar is “very high.” In the subsequent months the bar for REIT IPOs has only got higher, he noted.
With REIT indexes basically flat, investors aren’t making money on existing floated companies, Hsieh said.
Paul Pittman, chairman, president and CEO of Farmland Partners Inc. (NYSE: FPI), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
W. Edward Walter, CEO of Host Hotels & Resorts Inc. (NYSE: HST), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Michael Schall, president and CEO of Essex Property Trust, Inc. (NYSE: ESS), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Essex invests in transit-accessible urban and suburban apartment assets within the coastal California and Seattle markets. Schall described the ongoing housing shortage on the West Coast.
REITs lost ground in November, as uncertainty over the timing of interest rate changes and concerns about economic data weighed on the sector.
The total returns of the FTSE/NAREIT All REIT Index fell 0.3 percent in November, while the S&P 500 Index gained 0.3 percent. The yield on the 10-year Treasury note was up 0.1 percent for the month.
Through the end of November, REIT total returns for 2015 were up 1.1 percent, while the S&P 500 Index was up 3.0 percent.
Ed Fritsch, president and CEO of Highwoods Properties, Inc., and NAREIT’s 2016 chair, joined REIT.com for a video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Fritsch provided an overview of the current state of the REIT industry.
David Neithercut, president and CEO of Equity Residential (NYSE: EQR), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Neithercut, who served as NAREIT’s 2015 Chair, reflected on the main challenges and opportunities for the industry going into 2016.
David Toti, managing director and senior equity research analyst in the real estate group of BB&T Capital Markets, joined REIT.com for a video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Toti was asked whether interest rates will continue to be a key topic of conversation for REITs in 2016.
“Absolutely. Interest rates will always be part of the conversation of an asset that is levered, particularly after a very long period of ultra-low rates because of global liquidity forces,” Toti responded.
Lauralee Martin, president and CEO of HCP, Inc. (NYSE: HCP), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Martin discussed some of the themes that the health care REIT’s investors are consistently bringing up in meetings. She noted that investors are curious as to whether the changes in the cost of capital for REITs and the anticipated rise in interest rates will result in a readjustment of asset prices and capitalization rates.
