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A fragmented market and growing demand for rental housing puts larger companies in the single-family rental sector in a strong competitive position, according to some market observers.
In a webinar hosted by real estate research firm Green Street Advisors, Don Mullen, CEO and chief investment officer of Progress Residential Master Trust, a private REIT, said current conditions are creating “tremendous opportunity” in the sector.
Matthew Werner, portfolio manager at Chilton Capital Management, joined REIT.com for a video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
Werner offered advice to generalist investors who are considering entering the REIT market.
“At the end of the day, the ‘location, location, location’ thesis is something that should not be ignored at all,” Werner stressed. “Being mindful of risk should always be a top-of-mind decision when looking at a company.”
In the latest edition of Fundamentally Speaking, Calvin Schnure, NAREIT’s senior vice president for research and economic analysis, offered his opinions on the major trends facing the U.S. economy and real estate industry at the start of 2017.
Schnure dismissed worries about an economic slowdown as “overblown.”
REIT returns reversed a four-month downward trend in December as concerns about rising interest rates eased, market watchers said.
The FTSE/NAREIT All REIT Index had a total return of 4.2 percent in December, while the S&P 500 index return was 2.0 percent. Total returns of the FTSE/NAREIT All Equity Index were 4.5 percent in December, while total returns of the FTSE NAREIT Mortgage REITs Index were 0.7 percent.
Eric Frankel, analyst at Green Street Advisors, joined REIT.com for a video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
Frankel noted that the two primary components of industrial warehouse demand – trade and consumption – have held steady during the last several years. However, the method in which goods are consumed has changed, largely due to e-commerce.
David De La Rosa, senior vice president of advisory consulting at Green Street Advisors, joined REIT.com for a video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
De La Rosa discussed best practices for international real estate companies. He noted that best-in-class real estate companies in the United States share a number of characteristics: high-quality portfolios, specialized investment strategies, good capital allocation, strong balance sheets and limited development pipelines.
Joe Margolis, chief investment officer, executive vice president and incoming CEO of Extra Space Storage Inc. (NYSE: EXR), joined REIT.com for a video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
Margolis joined Extra Space in 2015 and will succeed Spencer Kirk as CEO of the company at the beginning of 2017.
Margolis commented on the transition process, joking that he and Kirk have been “joined at the hip for about 18 months now.”
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, noted that Equity REITs and Mortgage REITs have been on divergent paths in recent months.
The total returns of the FTSE NAREIT All REITs Index dropped 2.0 percent in November, while the S&P 500 Index gained 3.7 percent. Total returns of the FTSE NAREIT All Equity REITs Index fell 2.4 percent in November, while total returns of the FTSE NAREIT Mortgage REITs Index gained 1.7 percent.
Michael Torres, CEO of Adelante Capital Management, joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
Adelante is a global investment management firm focused on real estate securities, predominantly REITs.
REIT returns fell in November, as gains in long-term interest rates continued to put downward pressure on the sector, market watchers said.
The total returns of the FTSE/NAREIT All REIT Index dropped 2.0 percent in November, while the S&P 500 index gained 3.7 percent. Total returns of the FTSE/NAREIT All Equity Index fell 2.4 percent in November, while total returns of the FTSE NAREIT Mortgage REITs Index gained 1.7 percent.