• Alex Pettee, CFA

REIT Rejuvination on Solid Footing in 2019


  • Patience is a virtue for REIT investors. After three years of stumbling stock price performance, REITs have surged out of the gate in 2019, boosted by receding interest rates.

  • The REIT rejuvenation appears to be on solid footing from a fundamental perspective, as valuations remain reasonable. REIT metrics bottomed in 2017 and gradually improved through 2018.

  • After the nearly 20% jump, REITs are no longer trading at an NAV discount, but that’s a welcome relief. The acquisition pipeline could re-open this year as a result.

  • Faced with a challenging acquisition environment, REITs have focused more on new development. REITs have become some of the most active builders in the real estate industry.

  • REIT balance sheets are as solid as ever, calling into question the warranted degree of interest rate sensitivity. We analyze REIT fundamental data from the recently released NAREIT T-Tracker data.


Glass Buildings

Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

apartment REITs
homebuilders ETFs
single family rental REITs
manufactured housing REITs
student housing REITs
data center REITs
Cell tower REITs
net lease REITs
industrial REITs
storage REITs
office REITs
mall REITs
REIT Preferreds and Bonds
hotel REITs
Timber REITs
healthcare REITs
REIT ETFs
Billboard REITs
shopping center REIT
High-Yield Real Estate ETFs
Real Estate CEFs
Casino REITs
cannabis REITs
prison REITs
mortgage REITs
real estate crowdfunding
REIT Portfolio Strategy
REITs Taxes
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