New Nareit Chair Discusses Outlook for 2017

Tim Naughton

Tim Naughton, the 2017 Nareit Chair and the chairman and CEO of AvalonBay Communities, Inc. (NYSE: AVB), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: Nareit’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

Naughton described the current state of the listed REIT industry as “very healthy.” He underscored that dividends for the REIT industry are approaching $50 billion. “Total shareholder returns continue to be very healthy, particularly when compared to other sectors,” he said.

In addition, the equity market capitalization of the industry is now above $1 billion, and assets under management total approximately $1.5 trillion.

Naughton also said the REIT industry as a whole is “now touching virtually every part of the economy.”

As far as goals for his tenure as Chair, Naughton highlighted the need to build upon the “platform of visibility” that now exists for REITs as a result of real estate gaining its own headline sector within the Global Industry Classification Standard (GICS).

Naughton also commented on the impact of the general election. With new committee assignments in Congress, and the prospect of tax reform likely to be on the agenda, “we need to make sure our industry’s voice is heard,” Naughton said.