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Hudgins: REITs Still Highly Correlated To Real Estate
REITs are still highly correlated to real estate despite the fact that they trade and react like equity, says Michael Hudgins, VP and global REIT strategist at JPMorgan Asset Management. In short, they still have the best of both worlds. "With a long-term recovery in real estate valuations ahead, there are good prospects for total returns for REITs," Hudgins said. At the same time, they can react to short-term events such as a lower interest rate.
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Litt: Cap Rates Down, Fundamentals Up
By Allen Kenney
(March 9)—While cap rates continue to fall, commercial real estate market fundamentals appear ready to begin slowly turning a corner, according to Jonathan Litt, managing principal of real estate investment firm Land and Buildings Investment Management LLC.
Litt said in a report that recent meetings with more than 50 management teams had shown that the debt and equity markets are approaching “more normalized spreads,” leading cap rates to trend downward. He noted that transaction activity had started to increase, with assets changing hands at prices higher than expected.
Litt also said there was optimism that the market’s overall picture for fundamentals would soon improve, albeit at a slower pace than expected.
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REIT.com features 2009 year-end tax reporting data from NAREIT corporate members. The data are updated daily as new information is received, and historical data are available beginning in 1995. The current year-end tax data are a valuable resource for investors seeking detailed dividend information when preparing their annual federal tax returns. CLICK HERE to view the data.
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FTSE NAREIT U.S.
| Price Index($) | Percent Change* |
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All REITs
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116.00
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0.74 |
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Equity REITs
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364.32
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0.77 |
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Mortgage REITs
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6.64
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0.61 |
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View All
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FTSE EPRA/NAREIT
| Price Index(€) | Percent Change* |
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Global
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1,184.94
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0.85 |
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Developed
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1,193.22
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0.87 |
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Emerging
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1,840.21
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0.61 |
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