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Insights

Friday Market Recap

Weekly Assessment of Global Real Estate Trends

Brookfield Property Partners LP (BPY)

In the U.S.: The U.S. and Mexico reached new trade agreement that would scrap the NAFTA name and call it the US-Mexico trade agreement. Although Mexican President Enrique Peña Nieto urged the U.S. to work on a trade deal with Canada, the White House and Canadian leaders were unable to come to an agreement. REIT Focus: Brookfield Property Partners

Pebblebrook Hotel Trust (PEB)

In the U.S.: As expected, the US started to impose additional 25% tariffs on 279 Chinese import products worth $16B, which includes semiconductors, chemicals, and plastics. China quickly retaliated with its own new tariffs on $16B worth of imports from the US, including fuel, steel products, autos and medical equipment. Fed Chairman Jerome Powell stated that the current path

MedEquities Realty Trust, Inc. (MRT)

In the U.S.: Via twitter, President Donald Trump suggested that he will have the SEC look into changing the quarterly reporting cycle for public companies to a six month system. President Trump stated that the move would allow greater flexibility and save public companies money. In earnings, 465 companies in the S&P 500 Index have reported, 83.8% beat, 0.6%

Featured Global Market Reports

Browse finance headlines from around the globe we’re keeping an eye on

The Benefits of Global Investing

With 2013 behind us, it is worth noting that Europe was the top performing global region within the FTSE EPRA/NAREIT Developed Index. Europe’s total return greatly exceeded those of Asia and North America, for dollar denominated investors, although Asia was the best performing region on a local currency basis. Europe’s strong performance comes on the heels of a good

Mexico: The Rise of Fibra

We conducted three days of due diligence on the nascent REIT industry in Mexico (two days in Mexico City and one in Monterrey), our itinerary filled with back-to-back meeting with management teams of five of the seven exiting Mexican REITs, called Fideicomisos de Infrastructura y Bienes Raices or Fibras for short. Our discoveries: Mexico is experiencing a manufacturing renaissance. 

A Greek Tragedy…or is it a Comedy?

A Greek Tragedy… or is it a Comedy? Clearly, it is a little of both. As the new Greek government fails to form a coalition, the entire “progress” of the Troika’s (IMF/ECB/EC – and Germany) negotiations reverts back to uncertainty and talk of a Greek exit from the Euro. It is comical that Greece can hold the entire Eurozone

UK CEO Panel Talks London Market

Our European analyst recently attended the BAML UK Real Estate conference in London.  One of the panel discussions involved five CEOs of prominent UK REITs talking about the state of the London real estate market.  The panelists were John Burns (DerwentLondon), Chris Grigg (BritishLand), David Atkins (Hammerson), David Fischel (Capital Shopping Centers), and now retired Francis Salway (Land Securities).

Domestic & Capital Market Insights

What’s happening at home, outlooks & reviews

2Q18 Capital Market Outlook

To a certain extent, all of the headwinds confronting the asset class are still gusting against the bow of USS REITs but perhaps the 13% decline to start the new year was overdone. Retail REITs still comprise 18% of the Index but sentiment has certainly shifted in favor of the tenants and, by extension, the landlords. The message coming

2Q18 Capital Market Review

US equity investors spent most of Second Quarter wondering if the various indices would revisit the lows made in February. From a top down perspective, they had every reason to worry: (i) an activist FOMC, (ii) trade wars all around and (iii) mega-cap tech companies under regulatory threat; however, the balance or risk did seem more favorable within the

1Q18 Capital Market Outlook

As another 7.5% decline in the Wilshire REIT Index and numerous quarters of underperformance to the various private commercial real estate and equity market indices demonstrate, being relatively cheap is not reason enough for a positive outcome.  At the recent Citi CEO conference, REIT management teams quietly bemoaned their Net Asset Value discounts and analysts and investors cried out

1Q18 Capital Market Review

After a start to the year where the equity markets moved close to hitting year-end targets in one month, volatility returned with a vengeance, spurred most likely by the release of the Employment Situation Summary on February 2nd reporting a 2.9% year-over-year increase in average hourly earnings. Everyone became a Philips Curve acolyte and fears of runaway inflation took