• Alex Pettee, CFA

Real Estate Earnings Recap: Housing REITs Lead Recovery

  • For full report, click here to visit Seeking Alpha!

  • Following several years of floundering stock price performance, REITs have outperformed in 2019, boosted by receding interest rates and strengthening property-level fundamentals.

  • Residential REITs have led the recovery this year as an intensifying housing shortage has reignited rent growth, a result of strong household formations and slowing new construction.

  • The 'REIT Rejuvenation' has restored the coveted NAV premium, giving these REITs the currency to re-open the acquisition pipeline which had essentially shut down since 2017.

  • First-quarter earnings results were generally better-than-expected across most real estate sectors. Retail REITs, however, continue to struggle with a seemingly endless wave of store closings.

  • As counterintuitive as it may be, we explain that elevated valuations are welcome news for REITs. 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
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REIT Portfolio Strategy
REITs Taxes
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