Bayle Smith, vice president, advisory and consulting, at Green Street Advisors, joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.
Smith stressed that effective investor communication should be a core competency for any REIT. Green Street advises REITS to demonstrate their strategic vision, competitive advantage, and capital allocation philosophy. A lot of REITs struggle with this, he noted, most often REITs that are new to the public market or which have underperformed their peers.
As for areas where REITs can improve, Smith pointed to financial disclosure and investor presentation materials. He also stressed that Green Street likes to see companies having an open dialog with investors as to where the difficulties in the portfolio lie.
Smith also touched on the ways in which communication styles can change between what is shown in disclosure materials versus investor presentations.