The Market Commentary blog on reit.com presents analysis of the macro- and micro-economic fundamentals impacting the REIT and commercial real estate industry. The Nareit economics team offers their commentary on the state of the market, the outlook for commercial real estate and breaking macroeconomic news. The opinions set forth here are solely those of its author(s), and do not necessarily reflect the views of the Nareit or its membership.
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REIT Capital Market Update: September 2022
U.S. REITs raised $6.2 billion from secondary debt and equity offerings in the third quarter of 2022, down from $11.1 billion raised in the second quarter.
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REITs Own 535,000 Properties in the U.S.
Nareit’s annual update of REIT property counts and estimated gross asset values by state and property sector is now available on the REITs Across America website.
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REITs Fell Sharply Along with Broader Markets in September
In September, REITs and stocks posted their worst monthly performance since March 2020, as a hawkish Federal Reserve warned that measures to bring inflation under control could bring “some pain” to U.S. financial markets, and Treasury yields continued to rise.
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REITs Supported 3.2 Million Jobs in 2021
REITs supported an estimated 3.2 million fulltime equivalent (FTE) jobs in the U.S. in 2021, producing $229 billion in labor income, according to EY’s latest Economic Contribution of REITs report, commissioned by Nareit.
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Return to Office Surges Post-Labor Day
The average office occupancy rate rose almost 4% in the week after the holiday.
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Morningstar Analysis Shows Importance of Meaningful REIT Allocations
A new Morningstar Associates analysis, sponsored by Nareit, found that the optimal portfolio allocation to REITs ranges between 5% and 18%.
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Demand Outstrips Supply in Industrial and Retail Sectors in Second Quarter 2022
Recent data from CoStar highlight some of the supply and demand differences across sectors. In the second quarter of 2022, demand continued to outstrip supply for both industrial and retail, while apartment and office demand fell short of their respective supply counterparts.
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Survey Finds Institutional Investor Interest in Technology, Health Care Real Estate Increases
A preview of the institutional investor survey by Wealth Management’s Real Estate division (WMRE) showed institutional investors are looking to newer property types, such as data centers, life sciences, and medical offices to drive returns in their portfolios.
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The Recovery and Resiliency of U.S. REIT Operational Performance
The U.S. economy has faced numerous headwinds over the last few years.
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REITs Declined Along with Broader Markets in August
The FTSE Nareit All Equity REITs Index posted a total return of -5.9% and the FTSE Nareit Equity REITs Index fell 6.0% in August.
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Solid Fundamentals for Commercial Real Estate in Second Quarter 2022 Despite Economic Uncertainties
In the second quarter of 2022, continued solid fundamentals reflect an ongoing healthy demand for commercial real estate across most sectors, even as concerns about a slowing economy dominate the outlook.
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Greenhouse Gas Emissions and Climate Change Top the List of Topics Investors Asked Equity REITs in 2021
REITs have seen a large increase in investor interest in ESG with greenhouse gas emissions (GHG) and climate change top of mind.