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Bruce Duncan, president and CEO of First Industrial Realty Trust, Inc. (NYSE: FR), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
First Industrial owns and operates industrial real estate for multinational corporations and regional customers in major markets across North America.
Duncan discussed the firm’s current development pipeline and the outlook for leasing.
REITs outperformed the broader market in June and the first half of the year, as sector fundamentals and capital markets remained healthy during a period of global uncertainty, analysts said.
The FTSE/NAREIT All REIT Index had a total return of 6.7 percent in June, while the S&P 500 Index gained 0.3 percent.
For the year to July 1, the FTSE/NAREIT All REIT Index had a total return of 13.8 percent, while the S&P 500 Index gained 4.1 percent. The yield on the 10-year Treasury note fell 0.8 percent during the first six months of the year.
Joel Beam, managing director at Salient Partners, joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
According to Beam, volatility has been the dominant theme for REITs in the first half of 2016.
“Volatility really has been the story from our point of view, and I think it’s really what gives investment managers that challenge of staying steady at the wheel,” he said.
Looking to the second half, Beam said he will be focused on “the landscape of returns.”
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.
First Potomac Realty Trust’s (NYSE: FPO) new CEO Bob Milkovich sees multiple drivers of growing demand in the Washington, D.C., office market following a period of protracted softness.
Bruce Duncan, president and CEO of First Industrial Realty Trust, Inc. (NYSE: FR), 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.
First Industrial owns industrial real estate in major markets across the United States.
Duncan said he is “very encouraged” by industry fundamentals heading into 2016. During the third quarter, First Industrial’s occupancy rate increased to 95.5 percent from 95.1 percent, he said.
REIT returns lost ground in the first half of 2015, in part over expectations of the potential market impact of rising interest rates.
For the year to July 6, total returns from the FTSE/NAREIT All REIT Index declined 3.2 percent. The S&P 500 was up 1.5 percent during the same period. The yield on the 10-year Treasury note gained 0.1 percent during that time.
C. Patrick Scholes, managing director with SunTrust Robinson Humphrey, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Scholes said healthy fundamentals in the hotel REIT sector are likely to continue into 2015, based on a favorable supply-and-demand balance. Revenue per available room (RevPAR) should accelerate in the first half of 2015, according to Scholes.
REIT returns doubled up the broader market during the first half of 2014, helped by low interest rates and muted supply, according to industry observers.
As of July 7, the FTSE NAREIT All REITs Index has had a total return of 16 percent, compared with 8.1 percent for the S&P 500 Index.
“The first half of the year has surprised us a little bit with how strong the REIT performance has been,” said Todd Lukasik, Morningstar senior analyst.
