Market Commentary Tracking Property Prices and REIT Total Return Beyond the Core Sectors New indices introduced by Green Street allow us for the first time to compare property price performance to total returns for property types outside of the traditional core REIT sectors. 10/03/2018 Image
Market Commentary Rising Homeownership, Apartment Demand, Single Family Home Rentals and REITs The recovery in housing markets has generated concerns among investors in apartment properties that a rebound in homeownership could undermine the demand for apartments. Nothing could be further from the truth! 09/28/2018 Image
Market Commentary Looking Between the Sectors: REIT Price Multiple Performance A comparison of recent trends of the P/E ratio for the S&P 500 to the price-to-FFO ratio for REITs shows a contrasting risk/reward tradeoff between the broad equity market and REITs. 09/06/2018 Image
Market Commentary IRR is an Easily Manipulated “Performance” Metric Most private equity investment managers measure their performance using IRR, and illustrates how SLOCs and forward commitments can be used to manipulate IRR computations to make performance appear better than it really is. 09/05/2018 Image
Market Commentary Expansion and Growth of REIT Earnings Net operating income (NOI) of listed REITs rose nearly 50 percent over the past four years. The steady increases in same-store NOI at a pace above the inflation rate should continue to drive earnings, and valuations, upward in the future. 08/28/2018 Image
Market Commentary FFO of listed REITs rose 5.5 percent, to $16.4 billion, in Q2 There are a multitude of signs that REIT performance will likely remain strong in the months ahead. 08/24/2018 Image
Market Commentary Low Cap Rates Are Flashing a Signal, but is it Yellow, Red… or Green? Are low cap rates flashing a signal that speculative pricing is setting the market up for a correction? 08/22/2018 Image
Market Commentary The REIT-Stock Correlation Has NOT “Spiked to One” During Market Crises It is often said that “correlations spike to one during a crisis,” but REIT-stock correlations have actually been lower during the worst stock market downturns in history, reinforcing the case for REITs as a portfolio diversifier even during crises. 08/21/2018 Image
Market Commentary A Strong Economy Boosts Commercial Real Estate in Q2 The economy is enjoying above-trend growth, with some boost from last year’s tax cuts, which supports demand for nearly all types of commercial real estate. 08/10/2018 Image
Nareit Developments Nareit 2018 Compensation Survey Now Available The comprehensive survey includes data from 132 companies and information on 192 positions. 08/01/2018
Market Commentary What Are the Structural Factors That Boost Long-Term REIT Performance? REITs have provided investors solid returns over the years, despite short-term zigs and zags along the way, in part because of structural features of the REIT model. 07/23/2018 Image