Activist Investors “Fact of Life” in Real Estate Now, Cicco Says

Marty Cicco, senior managing director at Evercore, joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.

Evercore is an independent investment banking advisory firm.

Cicco said he expects activist shareholders to continue to play a role in the commercial real estate sector. “It’s a fact of life in the public markets going forward,” he said.

Cicco also discussed the slowdown in the issuance of REIT preferred shares.

“Clearly there’s a demand for yield, both in the retail and institutional market. To the extent that the use of that capital becomes more obvious, I think you’ll see an increase in issuance,” Cicco observed.

Meanwhile, Cicco commented on mergers and acquisitions activity. He noted that the potential for further large consolidation across various property types is “not obvious.”