REIT Rankings Best Real Estate Investment Trust Rankings – REIT Rankings
New York REIT, Inc., (NYSE: NYRT), which was created in September 2010 as a public, non-listed REIT, began trading on the New York Stock Exchange (NYSE) April 15.
Shares of the company’s stock opened at a price of $ 10.70 and were trading around $ 10.37 by late afternoon.
The company, which was previously known as American Realty Capital New York Recovery REIT, Inc., focuses on acquiring and operating a portfolio of institutional-quality office and retail properties in New York.
John Good, partner and co-head of the REIT group at law firm Morrison Foerster, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
Good was asked to comment on the movement among a number of REITs to spin off portfolios of assets into separate companies. This occurred most recently when Vornado Realty Trust (NYSE: VNO) announced that it would spin off 81 strip shopping center assets and four malls from its portfolio into a new REIT.
Vornado Realty Trust (NYSE: VNO) said April 11 that it plans to simplify its business model by spinning off 81 strip shopping centers and four malls into a new stock exchange-listed REIT currently known as “SpinCo.”
“We seek a very clean exit from the retail business… it’s all very, very logical… we are in the business of focusing,” said Steven Roth, chairman and CEO of Vornado, during an April 14 conference call.
Mark Streeter, managing director at JP Morgan Chase, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
Streeter was asked about appropriate debt levels for REITs and how the industry as a whole performs in this area. He noted that since the financial crisis, the REIT industry has been more focused on the metric of debt to earnings before interest, taxes, depreciation and amortization (EBITDA).
Lisa Sarajian, managing director at Standard & Poor’s Ratings Agency, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
Sarajian was asked about the state of the market for the bonds and preferred stocks of REITs.
Peter Fass, partner in the New York office of the law firm Proskauer Rose LLP, discussed some of the latest trends and developments in the public, non-listed REIT (PNLR) market in an interview for the latest edition of the NAREIT Podcast.
Ari Frankel, head of ESG strategy, real estate, at Deutsche Asset & Wealth Management, joined REIT.com for a video interview at NAREIT’s 2014 Leader in the Light Working Forum in San Francisco.
Frankel was asked why gathering sustainability data has become a key project for the REIT industry. He responded that 100 percent of studies that have looked at the connection between sustainability performance and financial performance have demonstrated a positive correlation, which isn’t the case in other asset classes.
Tyler Morse, CEO of MCR Development LLC, joined REIT.com for a video interview at the St. Regis Hotel in Washington, D.C. during NAREIT’s 2014 Washington Leadership Forum.
New York-based MCR Development is one of the 20 largest hotel owner-operators in the country.
Morse was asked about the relative strength of the business and leisure travel segments of his company’s customers.
