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John Guinee, managing director at Stifel Nicolaus, joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Guinee discussed the valuation of REITs relative to the broader equity and bond markets. According to Guinee, REITs are “appropriately valued right now.”
Guinee noted that REITs have outperformed the broader equity market by 300 to 500 basis points so far this year in a declining interest rate environment.
Scott Craig, vice president and portfolio manager at Eaton Vance Management, joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Craig shared his views on interest rate movements and their likely impact on REIT stocks. He stressed that real estate is a long-duration asset class.
“The forward yield curve today implies that five years from now, the 10-year U.S. Treasury rate will be less than 2.5 percent. That’s a very supportive environment for real estate,” he said.
Arlen Nordhagen, chairman, president and CEO of National Storage Affiliates (NYSE: NSA), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
National Storage currently owns 318 self-storage facilities located in 18 states.
Nordhagen said the company’s decision to increase its quarterly dividend by 10 percent reflected strong growth in funds from operation (FFO) per share.
Rick Romano, managing director and portfolio manager at PGIM Real Estate , joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Romano commented on the surprise developments he has seen in the REIT market so far this year. One of the biggest surprises, according to Romano, has been the disconnect between net asset value (NAV) and price performance for core real estate.
Eric Mendelsohn, president and CEO of National Health Investors (NYSE: NHI), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
NHI’s portfolio includes independent, assisted and memory care communities, skilled nursing facilities, medical office buildings and specialty hospitals.
Mendelsohn described the senior housing cycle as “bifurcated.” Investors appear to be avoiding skilled nursing, he said, so cap rates are rising quickly in response.
Dennis Gershenson, president and CEO of Ramco-Gershenson Properties Trust (NYSE: RPT), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Ramco-Gershenson owns and manages multi-anchor shopping centers primarily located in about a dozen of the largest metropolitan markets in the United States. The REIT is celebrating its 20th anniversary as a publicly traded company this year.
Drew Alexander, president and CEO of Weingarten Realty (NYSE: WRI), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Weingarten owns and operates neighborhood and community shopping centers in major metropolitan markets located in 18 states across the country.
Alexander said the company remains “cautiously optimistic” about new development, noting that Weingarten is working on a number of complicated projects that can take many years to finalize.
Mark Alfieri, president, CEO and COO of Monogram Residential Trust (NYSE: MORE), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Monogram’s portfolio includes investments in 55 multifamily communities in 10 states comprising more than 15,000 apartment homes.
Alfieri stressed the importance of development for the company, noting that it will continue to account for about 70 percent of growth in the long term.
