Category: REIT

REIT returns were higher in June as broadly positive fundamentals continued to support the market, according to industry watchers.

The total returns of the FTSE Nareit All REITs Index rose 4.1 percent in June, while the S&P 500 rose 0.6 percent. The total returns of the FTSE Nareit Mortgage REIT Index gained 1.5 percent in June.

The yield on the 10-year Treasury note was flat in June.

Brad Case, Nareit senior vice president for research & industry information, noted that REITs have now outperformed the broader stock market for four consecutive months.

John Kessler, president and COO of Empire State Realty Trust, Inc. (NYSE: ESRT), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

The New York office market remains competitive, according to Kessler. The high level of interest in the sector from private equity and other sources has kept prices stable and cap rates low, he said.

Chad Carpenter, chairman and CEO of Reven Housing REIT, Inc. (NASDAQ: RVEN), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Chris Constant, president and CEO of Getty Realty Corp. (NYSE: GTY), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Getty Realty received an investment grade rating from Fitch Ratings in May. Constant said the rating reflects the company’s repositioning and growth, and will open up new sources of capital.

Michael Landy, president and CEO of Monmouth Real Estate Investment Corp. (NYSE: MNR), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Landy discussed the expansion of the Panama Canal, calling it a “game changer” for the global supply chain. He noted that in anticipation of the expansion, some of the largest companies have shifted operations from the West Coast to the East Coast.

Jay Sugarman, chairman and CEO of iStar (NYSE: STAR), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

iStar finances, invests in, and develops real estate and real estate-related projects as part of an integrated investment platform.

Ashford Hospitality Trust, Inc. (NYSE: AHT) says a new funding program with its external advisor, Ashford Inc., should give the REIT an enhanced competitive edge when it comes to bidding for hotel acquisitions.

James Stewart, CEO of MGM Growth Properties LLC (NYSE: MGP), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Stewart described the REIT as a leader in the diversification of entertainment activities in Las Vegas. On the Las Vegas Strip, approximately one third of revenue is generated by casino gaming—the rest comes from restaurants, bars and live entertainment, he said.

Andrew Sims, chairman and CEO of Sotherly Hotels Inc. (NASDAQ: SOHO), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

In March, Sotherly acquired the Hyatt Centric Arlington located in Arlington, Virginia. Sims said Sotherly has been trying to enter the Washington, D.C. market for several years now as it serves as a feeder for the company’s other hotels.

Dave Schulte, president and CEO of CorEnergy (NYSE: CORR), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

As the first publicly-listed energy infrastructure REIT, CorEnergy’s business model can sometimes be a challenge to explain to investors.