Real Estate Investment Trusts

Conor Flynn, CEO of Kimco Realty Corp. (NYSE: KIM), joined Nareit for a video interview at REITworld 2017.

Kimco owns interests in 507 shopping centers in the United States, primarily in major metropolitan markets.

Flynn said Kimco sees an “enormous” opportunity in unlocking the embedded value of its real estate.

“We’re really just scratching the surface on what the highest and best use of the real estate could be…mixed-use in some cases is the best way to do that,” Flynn said.

Wendy Simpson, chairman, president and CEO of LTC Properties, Inc. (NYSE: LTC), joined Nareit for a video interview at REITworld 2017.

LTC primarily invests in senior housing and health care properties through sale-leaseback transactions, mortgage financing and structured finance solutions.

Simpson explained that LTC has found it “relatively challenging” to make new investments in 2017. She noted that prices have not come down to levels that the company had been expecting.

Keven Lindemann, senior director of global real estate at S&P Global Market Intelligence, joined Nareit for a video interview at REITworld 2017.

Lindemann described 2017 as a “surprisingly active” year from a REIT capital raising perspective, given the level of economic uncertainty.

Philip Hawkins, president and CEO of DCT Industrial Trust (NYSE: DCT), joined Nareit for a video interview at REITworld 2017.

DCT specializes in the ownership, development, acquisition, leasing and management of bulk-distribution and light-industrial properties.

Although Hawkins says it is difficult to quantify the impact of e-commerce on demand for industrial space, he estimates that it accounts for about a third of absorption in the DCT portfolio.

Jon Bortz, chairman, president and CEO of Pebblebrook Hotel Trust (NYSE: PEB), joined Nareit for a video interview at REITworld 2017.

Pebblebrook owns 28 full-service hotels located in nine states and the District of Columbia.

Bill Bayless, CEO and co-founder of American Campus Communities (NYSE: ACC), joined Nareit for a video interview at REITworld 2017.

The student housing REIT’s total managed portfolio consists of 204 properties with more than 130,000 beds.

William Stein, CEO of Digital Realty Trust (NYSE: DLR), joined Nareit for a video interview at REITworld 2017.

Digital Realty is a global provider of data center, colocation and interconnection solutions.

Stein highlighted some of the distinguishing features of Digital Realty, including its high level of reliability.

Greg Steele, managing director at Capital One, joined Nareit for a video interview at REITworld 2017.

According to Steele, one of the more surprising developments in real estate capital markets this year has been the impact of technology on real estate. The stock performance and capital raising of retail REITs have come under pressure this year, in part due to the impact of e-commerce.

Meanwhile, data center REITs and tower REITs have traded above net asset value, and capital raising in those sectors has proceeded at about twice last year’s pace, he said.

Steve Shigekawa, managing director at Neuberger Berman, joined Nareit for a video interview at REITworld 2017.

Neuberger Berman has a positive outlook for global real estate, based on low interest rates, continued strength in equity and debt markets, and supply that is below long-term averages in most markets, Shigekawa said.