September 6, 2017

REIT Commentary

The MSCI US REIT Index (RMS) had a total return of -0.2% in August, while the S&P 500 had a total return of +0.3%. The Chilton REIT Composite outperformed the benchmark for the month by producing a total return of +0.0% both gross of fees and net of fees. Year […]
September 5, 2017

It’s a Great Time to Own a Warehouse

Supply chain innovation, e-commerce, and measured new supply have led to the best operating environment for industrial REITs that we can remember.  However, investor demand has also surged.  Industrial real estate is trading at record-high cash flow multiples in the public and private markets.  For the first time in our […]
August 1, 2017

REITerating our Conviction on High Quality Retail Real Estate: Strip Centers

It seems every day a negative news article is written about brick-and-mortar (B&M) retailers, questioning the future of retailers and retail real estate due to the impact of e-commerce (also read “Amazon” (NASDAQ: AMZN)).  As a result, the S&P Retail sector ETF (NYSE: XRT) is down 5.9% year to date, […]
July 7, 2017

Portfolio Insight

Volatility was surprisingly low in the second quarter of 2017 as a global economic recovery, accelerating domestic earnings growth, and continued optimism regarding President Trump’s pro-growth plans fueled a steady march to new all-time market highs. The S&P 500 index closed at 2,423 on June 30, posting a 3.1% total […]
July 5, 2017

REITerating our Conviction on High Quality Retail Real Estate: Malls

Stock performance over the long term should be based on fundamentals, but short term performance can be heavily influenced by sentiment.  Nearly impossible to quantify, sentiment can most certainly be felt, seen, and heard.  We believe the recent collapse in mall and shopping center REIT share prices may be the […]