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Stock exchange-listed equity REITs and other listed real estate companies will be reclassified from the Financials Sector and elevated to an 11th headline Real Estate Sector of the Global Industry Classification Standard (GICS), the leading global listed equity classification system maintained by MSCI Inc. and S&P Dow Jones Indices. Industry observers received the news as a major step in the growth of REIT-based real estate investment.
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, noted that REITs continued to outperform the broader stock market during October with solid gains across most property types.
“It was another very strong month,” Case said. The FTSE NAREIT All REITs Index had a total return of 8.7 percent in October. The S&P 500 Index gained 2.4 percent for the month. Looking at year-to-date data, Case pointed out that while the S&P 500 has gained about 11 percent, REIT returns are close to 23 percent.
David Henry, CEO of Kimco Realty Corp. (NYSE: KIM), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Kimco has gone through a high volume of property acquisitions and dispositions in 2014.
“Like most of the industry post-recession, we have been all about recycling,” Henry said. “We’re trying to sell the bottom parts of our portfolio and add high-quality properties.”
Jon Bortz, chairman, president and CEO of Pebblebrook Hotel Trust (NYSE: PEB), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Capital flows into the REIT sector from domestic and international investors remain robust, according to a panel of industry figures at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT.
The panelists also said the limited supply of real estate assets is pushing valuations higher.
“Capital is chasing a relatively few number of assets,” said Louis Taylor, senior vice president at Paulson & Co., Inc. “Prices are fair to pretty full.”
The National Association of Real Estate Investment Trusts (NAREIT) today announced the election of its 2015 officers, as well as the members of its Executive Board, the organization’s sole governing board.
Elected Chair was David J. Neithercut, President and CEO of Equity Residential. Neithercut takes the place of NAREIT’s 2014 Chair, Ronald L. Havner, Jr., Chairman, CEO and President of Public Storage.
High barriers to entry and limited supply are boosting long-term growth prospects for REITs in the cell tower, data center and outdoor advertising sectors, according to a panel at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT.
“Technology is changing the traditional model” of real estate, said panel moderator Jim Sullivan, managing director with Green Street Advisors.
