Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • 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.

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Hoya Capital Real Estate, LLC

(833) HOYA-CAP

Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

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The Easy Way To Invest In Real Estate