The information contained herein should be considered to be current only as of the date indicated, and we do not undertake any obligation to update the information contained herein in light of later circumstances or events. This publication may contain forward looking statements and projections that are based on the current beliefs and assumptions of Chilton Capital Management and on information currently available that we believe to be reasonable, however, such statements necessarily involve risks, uncertainties and assumptions, and prospective investors may not put undue reliance on any of these statements. This communication is provided for informational purposes only and does not constitute an offer or a solicitation to buy, hold, or sell an interest in any Chilton Capital Management investment or any other security.
In 2019, positive contributors to relative performance included stock selection within the lodging sector, an overweight to the data centers/tech sector, and an underweight to the self storage sector. Stock selection in the shopping center sector, along with an underweight to the triple net sector and an overweight to the regional mall sector detracted from relative performance.
Positive contributors to relative performance included stock selection within the lodging sector, an overweight to the data centers/tech sector, and an underweight to the triple net sector. Stock selection in the industrial and specialty sectors, along with an underweight to the self storage sector detracted from relative performance.
In the January 2020 REIT Outlook titled, “2020 Chilton REIT Forecast”, we reflect on our 2019 projection from a year ago and provide our forecast for the year to come. The 2019 RMS total return fell squarely in the middle of our revised forecast of +22-29% from September 1, though well above our initial forecast of +12-17%. We are proud that the many positives in our 2019 forecast came true, and applaud investors that maintained or added to REITs after a disappointing 2018. For 2020, we once again are positive on REIT fundamentals, and therefore project total returns for the index of +8% to +12%. Going into the year, the biggest overweights in the Chilton REIT Composite are Data Centers/Tech, Office, and Residential, which are discussed in the Outlook.
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