In the the latest episode of The REIT Report: NAREIT’s Weekly Podcast, veteran REIT investor Bob Steers reflected on his experiences launching the first real estate securities mutual fund in 1985 and offered his views on the future of the industry.
REITs posted a strong upswing in March, outpacing broader market gains as investor concerns about global macroeconomic issues eased during the month, according to market observers.
The total returns of the FTSE/NAREIT All REIT Index rose 10 percent in March, while the S&P 500 Index added 6.8 percent. For the year to April 1, the total returns of the FTSE/NAREIT All REIT Index are 5.9 percent, while the S&P 500 Index is 2.0 percent higher. The yield on the 10-year Treasury note is 0.5 percent lower for the year to April 1.
Bill Hankowsky, chairman, president and CEO of Liberty Property Trust (NYSE: LPT), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Liberty Property Trust owns industrial and office space throughout the United States and United Kingdom.
Hankowsky commented on the company’s decision to initiate a share buyback program in August 2015.
Mark Van Deusen, partner with the law firm Hunton & Williams LLP, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Van Deusen discussed some of the factors driving the market REIT initial public offerings (IPOs). First, he pointed out that portfolios in REIT IPOs traditionally face a discount. That creates an impediment, Van Deusen said, especially in environments in which capital is flowing into the real estate market from private sources.
After a solid start to the year in January, REITs lost ground in February as gains in the 10-year Treasury note prompted short-term capital flows out of the market.
Analysts stress, however, that positive fundamentals remain in place for the industry going forward.
The total returns of the FTSE NAREIT All REITs Index dipped approximately 2.6 percent in February, while the S&P 500 gained more than 5.8 percent for the month. For the year, the REIT market is up 2.9 percent, whereas the S&P 500 is up 2.6 percent.
Neithercut was asked about the traits shared by the top-performing markets for his company: Denver, San Francisco and Seattle. He cited job growth as a key factor.
“Our business is all about supply and demand,” he said. “These are three markets that have produced some very strong job growth over the past three or four years.”
Bruce Duncan, president and CEO of First Industrial Realty Trust (NYSE: FR), joined REIT.com for a CEO Spotlight video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.
This year marks the 20th anniversary of First Industrial being listed on the New York Stock Exchange. Duncan discussed the significance of this milestone.
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