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The single-family home rental sector should experience solid growth for at least the next decade, buoyed in part by demand from millennials, a shortage of housing and greater acceptance as a viable investment, according to the CEOs of single-family housing REITs.
The CEOs participated in a Dec. 6 panel discussion presented by the National Rental Home Council at the IMN SFR Investment Forum West in Phoenix.
In the latest episode of the NAREIT Podcast, Creede Murphy, vice president and investment analyst with American Assets Capital Advisers, discussed his firm’s research on REITs’ role in optimized investment portfolios.
Murphy said performance data show REITs have “typically” outperformed major asset classes over “just about any [long-term] time period.” REITs do have “slightly higher” volatility than stocks, according to Murphy.
Ben Moreland, president and CEO of Crown Castle International Corp. (NYSE: CCI), joined REIT.com for a CEO Spotlight video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.
Crown Castle went public in 1998, but didn’t begin operating as a stock exchange-listed REIT until the beginning of 2014. Moreland was asked to comment on the decision to elect REIT status.
“We thought the REIT corporate organization was the right long-term structure for us,” Moreland said, noting that Crown Castle has thought of itself as a real estate company since inception.
Public, non-listed REITs (PNLR) would realize additional long-term growth from proposed regulations that would increase their disclosures of fees and commissions paid to brokers, according to real estate industry practitioners.
