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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.
John Brady, managing director of RBC Capital Markets, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Brady discussed action in the initial public offering (IPO) market for REITs in 2014, noting that activity “is more back-ended this year than it has been in prior years.”
Going forward, Brady predicts a “healthier” IPO market in general with an uptick in the number of offerings.
NAREIT Chair David Neithercut, the president and CEO of Equity Residential (NYSE: EQR), joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Neithercut’s tenure as NAREIT’s chair began this month. He described the current state of the REIT industry as “terrific,” noting that the absolute market cap of the REIT industry is approaching $ 900 billion and that the total enterprise value of the industry is approaching $ 2 trillion.
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, noted that REITs continued to outperform the broader stock market during October with solid gains across most property types.
“It was another very strong month,” Case said. The FTSE NAREIT All REITs Index had a total return of 8.7 percent in October. The S&P 500 Index gained 2.4 percent for the month. Looking at year-to-date data, Case pointed out that while the S&P 500 has gained about 11 percent, REIT returns are close to 23 percent.
Capital flows into the REIT sector from domestic and international investors remain robust, according to a panel of industry figures at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT.
The panelists also said the limited supply of real estate assets is pushing valuations higher.
“Capital is chasing a relatively few number of assets,” said Louis Taylor, senior vice president at Paulson & Co., Inc. “Prices are fair to pretty full.”
NAREIT presented its Industry Leadership and Industry Achievement Awards in Atlanta on Nov. 5 during REITWorld 2014: NAREIT’s Annual Convention for All Things REIT to Debra Cafaro and Keith Pauley, respectively.
The Edward H. Linde Leadership Award, named in recognition of Ed Linde, the late CEO of Boston Properties (NYSE: BXP), was awarded to Debra Carafo, chairman and CEO of health care REIT Ventas, Inc. (NYSE: VTR). The award is presented annually to a REIT executive who has made significant and lasting contributions to the growth and betterment of the industry.
The heads of four REITs made the Harvard Business Review’s latest ranking of the 100 best-performing CEOs in the world.
