The Latest From The World Of REITs: 10 Things You Need to Know Today
Here's the latest REIT news you need to know this Tuesday.
1. REITs saw some ups and downs in February, ending the month on a pretty flat note at -0.29%. Is it broader market behavior? Or has the sector plateaued? [UrbanLand]
2. Outside the country, other REITs are feeling the heat, as well. Turkish Ozak REIT's (OZKGY) 2015 net profit has dropped 52% from a year ago. [Reuters]
3. Things could be shining bright in Japan, however. According to Bloomberg, "the world's best REIT" handed Fortress (FIG), with $70B in AUM, a 700% gain on risky investments made after the 2011 tsunami. [Bloomberg]
4. ARMOUR Residential (ARR) should be in good shape, too, after picking up Javelin Mortgage Investment at an 87% discount. [SeekingAlpha]
5. Small cap REIT Slate Retail (SRT-U) rose to an all-time high of $15.18 per share on Monday. (The little guys need love, too.) The Toronto-based REIT specializes in owning and leasing grocery-anchored properties. [Sonoran]
6. Investment firm Compass Point has lowered the target price for City Office REIT (CIO) by nearly 13% to $13.50, reaffirming its buy rating. [FMN]
7. While the sector as a whole struggles, giants like Blackstone (BX) are pouncing on hotel REITs for private buyouts. [Bisnow]
8. Despite a downward trend among mortgage REITs, student lender-turned-housing financier Social Finance considers starting a REIT to fund its own mortgages. [Bisnow]
9. In Houston, Whitestone (WSR) sells another non-retail property in a $3.1M deal as it continues to shift its focus to shopping centers exclusively. [Chron]
10. And in one of the bigger recent stories, Hilton (HLT) plans to spin off its $10B hotel portfolio into a REIT. [Bisnow]
