Category: REIT

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Houses Passes TRIA Extension

Terrorism Risk Insurance Act

One day after the new session of Congress convened, the U.S. House of Representatives passed a bill on Jan. 7 to reform the Terrorism Risk Insurance Act (TRIA) and reauthorize the program for six years through 2020.

The “Terrorism Risk Insurance Program Reauthorization Act of 2015” (H.R. 26), which passed by a vote of 416-5, is identical to legislation (S. 2244) that was overwhelmingly passed by the House in December by a vote of 417-7. That bill died when the Senate failed to consider the measure before the last session of Congress adjourned.

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Investors Real Estate Trust CEO Says Bakken Oil Field Boosting Growth

Timothy Mihalik, president and CEO of Investors Real Estate Trust (NYSE: IRET), 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.

Investors Real Estate Trust operates a diversified portfolio of properties in the multifamily, office, health care, retail and industrial sectors. Its properties are located throughout 12 states in the Midwest.

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Quick Study: REITs Post Above-Average Historical Returns in 2014

In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, highlighted the REIT market’s outperformance of the broader stock market during 2014. He also suggested that investors pay close attention to supply conditions in 2015.

The FTSE NAREIT All REITs Index had a total return of 27.2 percent for 2014, compared to a return of 13.7 percent for the S&P 500 Index.

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CEO Says American Assets Trust Focusing on Development

John Chamberlain, president and CEO of American Assets Trust (NYSE: AAT), 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.

American Assets Trust acquires and develops retail, office, multifamily and hospitality properties in high-barrier-to-entry markets, primarily in Southern California, Northern California, Oregon, Washington and Hawaii.

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Senior Housing Properties Trust CEO Sees Broad Benefits from Demographic Trends

David Hegarty, president and COO of Senior Housing Properties Trust (NYSE: SNH), 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.

Hegarty explained that, despite its name, almost 50 percent of the company’s assets consist of medical office buildings, with senior housing accounting for the remaining portion. The majority of the properties, which are spread across 39 states, are triple net-leased.

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Hospitality Properties Trust Renovation Program Benefitting Portfolio, CEO Says

John Murray, president and COO of Hospitality Properties Trust (NYSE: HPT), joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.

Founded in 1995, Hospitality Properties Trust owns hotels and highway travel centers located throughout the United States, Canada and Puerto Rico.

Turning first to fundamentals for the hotel side of the company, Murray noted that the lodging sector has been in a recovery phase for the past five or six years.

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Neuberger Berman Fund Manager Says Higher Interest Rates Should be Good Sign for REITs

Steve Shigekawa, managing director at Neuberger Berman, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.

Shigekawa noted that the biggest surprise for the REIT industry during 2014 has been the decline in interest rates.

“At the beginning of the year, the 10-year Treasury note was 3 percent. At the time, the consensus view was that interest rates would go higher, which would be a headwind for the REIT market. What we’ve actually seen is the opposite,” he observed.

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Eaton Vance Fund Manager Paying Increased Attention to Accounting Checks and Balances

J. Scott Craig, vice president and portfolio manager at Eaton Vance Management, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.

Craig discussed ways in which his background as a certified public accountant influences his approach to investing.

“It’s very easy to take accounting for granted and to assume everything is fine,” Craig said. He added that he has now started to have conversations with companies regarding their systems of checks and balances in accounting.

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