Tag: REIT

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Ramco-Gershenson Director on Pressing REIT Tax Issues

Shari Thakady, director of tax at Ramco-Gershenson Properties Trust (NYSE: RPT), joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.

Ramco-Gershenson’s primary business is the ownership and management of multi-anchor shopping centers in strategic metropolitan markets throughout the Eastern, Midwestern and Central United States.

Thakady was asked to comment on the range of tax issues facing REIT tax directors and the ones causing the most concern.

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NYSE Executive Says REIT IPO Pipeline Relatively Dry

Ron Bohlert, managing director of the global corporate client group of the NYSE, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.

Bohlert was asked to discuss some of the initial trends in the market for REIT initial public offerings (IPOs) in 2014. Bohlert described the 2013 IPO market as “incredibly active.” Overall, 230 companies listed on the NYSE last year, generating approximately $ 55 billion in new capital. Seventeen REITs listed and raised a combined total of $ 4.5 billion.

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New York REIT Lists on NYSE

New York REIT, Inc., (NYSE: NYRT), which was created in September 2010 as a public, non-listed REIT, began trading on the New York Stock Exchange (NYSE) April 15.

Shares of the company’s stock opened at a price of $ 10.70 and were trading around $ 10.37 by late afternoon.

The company, which was previously known as American Realty Capital New York Recovery REIT, Inc., focuses on acquiring and operating a portfolio of institutional-quality office and retail properties in New York.

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Vornado Spinning Off Strip Shopping Centers, Malls into Separate REIT

Vornado Realty Trust (NYSE: VNO) said April 11 that it plans to simplify its business model by spinning off 81 strip shopping centers and four malls into a new stock exchange-listed REIT currently known as “SpinCo.”

“We seek a very clean exit from the retail business… it’s all very, very logical… we are in the business of focusing,” said Steven Roth, chairman and CEO of Vornado, during an April 14 conference call.

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JP Morgan Analyst Discusses REIT Debt Levels, Investment Grade Ratings

Mark Streeter, managing director at JP Morgan Chase, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.

Streeter was asked about appropriate debt levels for REITs and how the industry as a whole performs in this area. He noted that since the financial crisis, the REIT industry has been more focused on the metric of debt to earnings before interest, taxes, depreciation and amortization (EBITDA).

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S&P Credit Analyst Says REIT Debt Financing Growth

Lisa Sarajian, managing director at Standard & Poor’s Ratings Agency, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.

Sarajian was asked about the state of the market for the bonds and preferred stocks of REITs.

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Real Estate Sector Roughly at Mid-Cycle, REIT Executives and Analysts Estimate

The real estate sector is roughly at mid-cycle, with low levels of new supply, improving tenant demand, and ample capital supply all expected to support growth in the REIT industry over the next few years, according to industry executives and analysts.

“We’re past the deep distress period and are somewhere in the middle of a recovery in the U.S.,” said Jonathan Gray, global head of real estate at Blackstone, during the NYU Schack Annual REIT Symposium April 8.

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Phillips Edison–ARC Shopping Center REIT Seeing Rapid Expansion in 2014

D.J. Belock, senior vice president of finance with Phillips Edison & Company, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
 
Belock discussed what type of criteria the company’s public, non-traded REIT, Phillips Edison-ARC Shopping Center REIT, looks for in potential acquisitions, as well as which markets are currently most attractive.
 

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REIT Returns Outpace Gains in Broader Market During First Quarter

Returns on equity REITs far outpaced gains seen in the broader market during the first quarter of 2014, and analysts expect solid fundamentals to continue to support the sector.

Total returns for the FTSE NAREIT Equity REITs Index gained just under 10 percent in the first quarter, compared with the 1.8 percent gain seen in the S&P 500 Index in the same period. Gains for the FTSE NAREIT All REITs Index stood at 8.6 percent in the first quarter.

REIT returns softened in March compared with the first two months of the year.

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