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Global Net Lease, Inc. (NYSE: GNL), which began trading on the New York Stock Exchange June 2, plans to increase its exposure to European net lease assets by taking advantage of the current supply-and-demand imbalance in the region.
Formerly known as AR Capital Global Trust, Inc., Global Net Lease is a REIT focused on sale-leaseback properties in the United States and Europe. Its portfolio of more than 300 assets is located across five countries and includes 79 tenants and 35 industries.
Easterly Government Properties, Inc. (NYSE: DEA) is confident that the federal government’s preference for leasing properties will support its business strategy for decades to come.
The government’s shift toward leasing has been evident since the 1960’s and is unlikely to change any time soon, according to Easterly President and CEO William Trimble. In an interview with REIT.com, Trimble noted that during the Nixon administration, the federal government owned about 70 percent of its properties and leased 30 percent.
REITs held steady in May, as concerns over interest rate increases and uneven economic data continued to put pressure on the market.
The total returns of the FTSE/NAREIT All REIT Index slipped 0.1 percent in May, while the S&P 500 Index gained 1.3 percent. The yield on the 10-year Treasury note rose 0.1 percent for the month.
Through the end of May, total returns from the FTSE/NAREIT All REIT Index were 1.0 percent lower. The S&P 500 was up 3.2 percent during the same period.
FTSE Group and NAREIT have launched the FTSE NAREIT PureProperty Index Series, which provides a daily measure of U.S. real estate price and total returns at the level of both property and equity investments.
The index series’ values are based on price appreciation and income distributions generated by portfolios of properties owned by stock exchange-listed U.S. Equity REITs.
Brad Case, NAREIT’s senior vice president for research and industry information, described the new series as “potentially a watershed in institutional investment in real estate.”
In the latest episode of the NAREIT Podcast, David Funk, director of the Baker Program in Real Estate at Cornell University, discussed his recent paper on elevating real estate to a fourth permanent asset class for institutional investors to join equities, fixed-income and cash.
NAREIT is releasing a new report, the Total REIT Industry Tracker Series, or as T-Tracker. Calvin Schnure, NAREIT senior vice president for research and economic analysis, provided an overview of the new report.
Schnure explained that T-Tracker is a quarterly report containing a series of measures of operating performance of all U.S. listed REITs. The Tracker Series has three components: the Funds From Operations (FFO) tracker; the Net Operating Income (NOI) tracker; and the Dividend Tracker.
I expect the U.S. economy to keep growing at roughly trend rate for the next couple of years.
