Market Analysis & Research

Most private equity investment managers measure their performance using IRR, and illustrates how SLOCs and forward commitments can be used to manipulate IRR computations to make performance appear better than it really is. 

Net operating income (NOI) of listed REITs rose nearly 50 percent over the past four years. The steady increases in same-store NOI at a pace above the inflation rate should continue to drive earnings, and valuations, upward in the future.

There are a multitude of signs that REIT performance will likely remain strong in the months ahead.

Are low cap rates flashing a signal that speculative pricing is setting the market up for a correction? 

It is often said that “correlations spike to one during a crisis,” but REIT-stock correlations have actually been lower during the worst stock market downturns in history, reinforcing the case for REITs as a portfolio diversifier even during crises.

The economy is enjoying above-trend growth, with some boost from last year’s tax cuts, which supports demand for nearly all types of commercial real estate.

The comprehensive survey includes data from 132 companies and information on 192 positions.

REITs have provided investors solid returns over the years, despite short-term zigs and zags along the way, in part because of structural features of the REIT model.

How to construct an inflation-protecting portfolio without exposing yourself to the risk of guessing wrong about an increase the inflation rate.

Investors who depend on commodity investments to protect against inflation risk negative returns if inflation doesn’t meet their expectations, whereas REITs have historically provided strong returns in both high-inflation and low-inflation environments.