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Storage REITs Return to Positive Growth Performance in 2008
Storage REITs appear to have emerged intact following the storms of 2007, returning to the more normal pattern of steady and positive performance.
[May/June 2008]
Health care REITs prove to be a solid investment
Health care REITs, which represent just 5 percent of all U.S. REITs, are attracting more than their share of attention from investors and analysts in 2008.
[March/April 2008]
Office REIT Sector Recovery Gaining Strength
Limited new supply and strong demand kept office sector fundamentals strong in 2007, although stocks traded at appreciate discounts to net asset values.
[January/February 2008]
Multifamily REIT Fundamentals Remain Solid into 2008
Multifamily REITs began the year energized by last year's 40 percent total return.
[November/December 2007]
Industrial Optimism Driven by Rising Construction
Undaunted by a downturn in the housing sector and a weakened U.S. dollar, the industrial sector has been enjoying a recovery from the relative weakness of the sector as recently as two years ago.
[September/October 2007]
Lodging REITs: Sector In Demand
Sept. 11, 2001 cast a long shadow over the lodging industry, sending the industry’s metrics into a long downslide. However, after nearly two years of poor performance, lodging finally started to come out of the slump in the second half of 2003.
[July/August 2007]
Retail Sector Continues Its Winning Streak
Little does the average consumer know that weekend errands of shopping for groceries, finding a new couch or purchasing a sweater have helped the retail sector become one of the strongest and most stable REIT sectors over the past 10 years.
[May/June 2007]
Self Storage Expands Beyond Mom-and-Pop Roots
Self-storage REITs are coming of age.
[March/April 2007]
Health Care REITs Begin to Seek Size to Compete
Over the past year, the health care REIT sector entered a new trend of merger and acquisitions.
[January/February 2007]
Office REITs: Building Momentum
During the first half of this decade, there was no question that the national office market was not doing well.
[November/December 2006]
Multifamily Enjoys National Recovery as Fundamentals Improve
Key fundamentals in the multifamily market are strengthening across the U.S., both regionally and nationally, following a period of significant pressure.
[September/October 2006]
Changes on the Horizon in Industrial Market
Following a couple of years of improving space demand and higher rents attributable to economic growth, change looms ahead for the industrial market.
[July/August 2006]
Mortgage REITs: Fed's Up, What's Next?
It wasn't too long ago that mortgage REITs were the darlings of the industry, handily outperforming their equity REIT peers.
[May/June 2006]
Fundamentals Remain in
Regional Mall REITs' Favor
Business certainly has been good for regional mall REITs, and fundamentals are such that it is not expected to change any time soon.
[March/April 2006]
Lodging on the Mend: Less Room at the Inn
The lodging industry has faced its share of challenges in recent years.
[January/February 2006]
Self-Storage REITs Boost Market
Penetration, Boost Leadership
Unlike some other commercial real estate sectors, the self-storage property sector remains highly fragmented with numerous private, local owners, many of which are "mom-and-pop" operations.
[November/December 2005]
Residential REITs Building on Slow and Steady Recovery
The steady climb in homeownership rates, tepid job growth, and an unabated supply of new apartment units have combined to severely stress apartment owners.
[September/October 2005]
Industrial REITs Span the Globe for Growth Opportunities
Soft domestic property fundamentals and skyrocketing property valuations have industrial REITs looking at the global landscape for development opportunities to expand their portfolios.
[July/August 2005]
Health Care REITs Enjoy a Smoother Ride
Not too long ago the health care REIT sector seemed to be fighting an uphill battle.
[May/June 2005]
Slow and Steady Wins the Race for Office REITs
The office REIT sector contains some of the largest and most well- known companies in the publicly traded real estate industry.
[March/April 2005]
Resting Easier in Lodging
After three years of challenging times for a lodging sector shaken by weak economic conditions, geopolitical instability, health and terrorism concerns, 2004 showed significant improvement.
[January/February 2005]
Multifamily Makeover–Recovery in the Works
Following some challenging market fundamentals, the multifamily REIT sector appears to be on the mend.
[November/December 2004]
Office Fundamentals Turning But Recovery Still Tepid
Three years ago, a dramatic pullback in tenant demand sent ripples throughout the office REIT sector impacting occupancy, rental rates and tenant concessions.
[September/October 2004]
Retail REITs: Quality Merchandise
Throughout the recent economic downturn, retail REITs have continued to deliver strong operating results.
[July/August 2004]
Has the lodging recovery checked in?
The last several years for the lodging sector, particularly since Sept. 11, 2001, can best be characterized as turbulent.
[May/June 2004]
Industrial Shows Signs of Improvement, But Uncertainties Remain
The market for industrial real estate in the U.S. has been under pressure from the doldrums that have afflicted the broader economy over the last few years.
[March/April 2004]
An Encouraging Checkup for Health Care Sector
Albeit slow to materialize, there is a turnaround happening in the health care REIT industry.
[January/February 2004]
Has the Office Market Recovery Arrived?
Company executives, analysts and investors have anxiously waited for the recovery in the office market to take hold.
[November/December 2003]
A Dark Cloud Lingering Over Multifamily REITs
In the fall of 2002, Moody’s Investors Service changed its outlook for the multifamily REIT sector to "negative," and little has changed over the past year to improve that view.
[September/October 2003]
Food for Thought in Retail
Food has become increasingly important in retail malls and community centers. For many years, food courts or similar offerings were the order of the day, with fast food restaurants (like McDonald’s or Burger King) being the leading format.
[July/August 2003]
Little Hope for a 2003 Lodging Recovery
U.S. lodging REITs’ performance has been under pressure since the latter part of 2001 as firms have wrestled with the unpleasant fact of negative RevPAR (revenue per available room) growth in many of their markets.
[May/June 2003]
Industrial Stability Faces Challenges
The industrial REIT sector is a prime example of making the most out of a bad situation.
[March/April 2003]
Are Assisted-Living Facilities on the Mend?
While government reimbursement issues remain, the health care REIT sector appears to be in stable condition. However, the diagnosis varies depending on which segment of the industry you examine.
[January/February 2003]
Discipline Offsets Deteriorating Office Fundamentals...but for How Long?
Faced with weakened market fundamentals and deteriorating operating performance, office REITs have maintained relatively stable credit profiles, benefiting from a favorable financing environment.
[November/December 2002]
Outlet Centers Come of Age Overseas
The concept of paying less than retail price is clearly a big seller with Americans, as outlet centers have become increasingly popular from coast to coast. [September/October 2002]
A New Phase for Mortgage REITs
Driven by successive cuts in short-term interest rates that began in late 2000 and continued through 2001, mortgage REITs have been one of the industry’s most dynamic sectors.
[July/August 2002]
Manufactured Housing Sector Looks to Build on Improved Fundamentals
Although it remains a small sub-sector of the commercial real estate industry, the manufactured housing market offers investors some interesting opportunities despite facing serious challenges.
[May/June 2002]
Lodging Dealt Major Blow, Slow Recovery Expected
Of all the commercial real estate sectors, the tragic events of 2001 took the biggest toll on the lodging industry. Reduced business travel due to a weakening economy had already adversely affected lodging industry performance—and then September 11 happened.
[March/April 2002]
Crossing the Line
Real estate companies have demonstrated a sound ability to confront the often-overwhelming challenges facing the health care industry over the past few years. As a result, the health care REIT sector is expected to continue improving and achieve credit stability over the near term.
[January/February 2002]
REITs Putting Self Storage on Investors' Radar
Often overlooked by investors in the past, self-storage facilities are management- intensive businesses with a heavy capital component in the form of property. Two important ingredients for a company's success in this industry is good facility management and creativity in providing additional services that strengthen competitive posi tioning and enhance revenues.
[November/December 2001]
Office REITs on Solid Ground, But Caution Is Warranted
Office properties have staged a remarkable turnaround since the last real estate recession of the late 1980s and early 1990s saw operating performance plummet and property values deteriorate.
[September/October 2001]
Separating the Wheat and the Chaff
Consumers are "shopped out," with closets full of clothes, countless electronic gadgets, and a new SUV in the garage.
[July/August 2001]
Neighborhood Shopping Centers vs. the Superstores
The expansion of superstores by Wal-Mart, Kmart and Target continues to affect community shopping centers, the physical formatting of grocery anchors and centers' in-line tenants.
[May/June 2001]
Lodging Sector Performance Is Good, But Volatility Remains
After a prolonged period of turbulence, the U.S. lodging property sector is showing signs of resilience as evidenced by strong RevPAR growth and occupancy increases, albeit modest.
[March/April 2001]
New Tenants, Demand Drives Industrial Sector
The industrial real estate sector remains one of the strongest segments of U.S. commercial real estate.
[January/February 2001]
Fundamentals Benefit Multifamily REITs
The multifamily property sector possesses substantial resilience, as well as some unique characteristics, that enhance its financial flexibility.
[November/December 2000]
Mortgage REITs:
Funding Management Is Key
Creative funding strategies are driving mortgage REIT activities. Far more than equity REITs, mortgage REITs rely on significant levels of direct or indirect leverage to generate adequate returns on inherently low margin assets.
[September/October 2000]
Healthcare Sector: Looking Long-Term
Lower reimbursement levels and a rapidly changing healthcare market continue to pose difficulties for operators of healthcare facilities, thus creating challenges for U.S. healthcare properties and healthcare REITs.
[May/June 2000]
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