Fidelity Portfolio Manager says REIT NAV Discount Generating Activity

Steve Buller, portfolio manager at Fidelity Investments, joined REIT.com for a video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.

Buller said 2015 has lived up to his initial expectations of being a year with a high level of transaction activity within the REIT industry.  A major reason behind that has been the fact that REITs have been trading at a discount to net asset value (NAV) throughout the year.

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Easterly Government CEO Highlights Safety of Tenant Base

William Trimble, president and CEO of Easterly Government Properties, Inc. (NYSE: DEA), 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.

Easterly focuses on the acquisition, development and management of Class A commercial properties leased to federal government agencies that serve essential functions.

Trimble pointed out that 96 percent of the company’s leasings are derived from “the safest source of credit in the world.”

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Regency CEO Says FFO, NOI Growth Product of Demand, Portfolio Quality

Hap Stein, chairman and CEO of Regency Centers (NYSE: REG), 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.

Regency has posted gains in funds from operations (FFO) and net operating income (NOI) in 2015. Stein cited “robust” demand for space and the quality of Regency’s portfolio as drivers behind the performance. Stein also noted that the company’s occupancy rate now sits at north of 96 percent.

Hap Stein

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Quick Study: Investor Uncertainty Produces Quiet Month for REITs

In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, a “fairly quiet” November for REITs and other asset classes.

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. Case pointed out that mortgage REITs gained 1 percent for the month while producing strong dividend yields.

Brad Case

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Morgan Stanley Banker Says Timing Not Right for REIT IPOs

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.

Jackson Hsieh

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