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REITs Continue to Outpace Broader Market

In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, pointed out that while REIT returns dropped modestly in February, the sector outperformed the broader market on a year-to-date basis.

The total returns of the FTSE/NAREIT All REIT Index fell 0.3 percent in February, while the S&P 500 Index lost 0.1 percent. For the year to March 3, the total returns of the FTSE/NAREIT All REIT Index dropped 0.1 percent, while the S&P 500 Index fell 2.1 percent.

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Viewpoint: Sovereign Wealth Funds Among Major Stories for REITs

Greg Steele

The prospects for REITs in 2016 are encouraging, with sovereign wealth funds continuing to invest aggressively in U.S. markets and the Fed’s policy of incremental interest rate hikes signaling confidence in the U.S. economy as a whole. Although the precipitous decline in oil prices has created headwinds in Houston, especially for multifamily and office sectors, even here, job growth remains positive. In the meantime, REITs are reconfiguring their portfolios to focus on new uses of space in the industrial and office sectors in response to new business models and advances in technology.

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Brandywine Named Lead Developer on Philadelphia Project

Brandywine Realty Trust (NYSE: BDN) announced March 2 that it has been selected by Drexel University as the master developer for Philadelphia’s Schuylkill Yards, a 14-acre master planned community featuring educational facilities, research laboratories, corporate offices, and residential and retail spaces.

“Together, we will create a dynamic and world-class innovation hub to attract the brightest minds to our region,” said Jerry Sweeney, president and CEO of Philadelphia-based Brandywine.

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REITs Hold Steady in February; Fundamentals Positive

REITs fell back slightly in February, but fundamentals in the sector remain on a solid footing, according to analysts.

The total returns of the FTSE/NAREIT All REIT Index fell 0.3 percent in February, while the S&P 500 Index lost 0.1 percent. For the year to March 1, the total returns of the FTSE/NAREIT All REIT Index dropped 1.3 percent, while the S&P 500 Index fell 2.8 percent.

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Research Finds Target Date Funds Need Higher REIT Allocations

John Worth, NAREIT’s senior vice president for research and investor outreach, joined Kurt Walten, NAREIT’s senior vice president for investment affairs and investor education, for a REIT.com video to discuss new NAREIT-sponsored research from investment advisory firm Wilshire Associates on the role of REITs and listed real estate equities in target date fund (TDF) asset allocations.

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Hilton to Spin Off Real Estate into REIT

Hilton Worldwide said Feb. 26 that it plans to spin off the bulk of its hotel real estate holdings into a publicly traded REIT by the end of the year.

McLean, Virginia-based Hilton Worldwide noted that it received a private letter ruling from the Internal Revenue Service regarding the spin-off. The hotel company intends to file appropriate registration statements with the Securities and Exchange Commission (SEC) during the second quarter.

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