Franklin Street Properties Corp.

Macerich

Kilroy Realty

Retail Opportunity Investments

Whitestone REIT

Park Hotels & Resorts

One Liberty Properties

Douglas Emmett

Acadia Realty Trust

Gladstone Commercial

Cambria Global Real Estate ETF

BLDG is actively-managed to provide exposure to the real estate sector and its related industries. Stocks are selected using Cambrias multi-factor algorithm.

Alpine Global Premier Properties Fund

Xtrackers California Municipal Bond ETF

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

FlexShares Global Quality Real Estate Index Fund

Home Appreciation US REIT ETF

Xtrackers International Real Estate ETF

Hoya Capital Housing ETF

iShares Cohen & Steers REIT ETF

iShares International Developed Real Estate ETF

CBRE Global Real Estate Income Fund

Pacer Benchmark Industrial Real Estate SCTR ETF

IREIT - Marketvector Quality REIT Index ETF

iShares U.S. Home Construction ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

VanEck Mortgage REIT Income ETF

Direxion Daily Homebuilders & Supplies Bull 3X Shares

NETLease Corporate Real Estate ETF

Neuberger Berman Real Estate Securities Income Fund Inc

Nuveen Short-Term REIT ETF

InfraCap REIT Preferred ETF

For income-focused investors willing to venture outside the United States, Canadian REITs offer appealing qualities as a potential portfolio diversifier alongside their larger and more established U.S. peers. Canadian REITs, on average, offer higher monthly dividend yields and trade at lower P/FFO multiples compared to their U.S. counterparts, but typically have weaker balance sheets with higher debt ratios. In this report, we take a quick look at 30 Canadian REITs and break down the industry on a sector-by-sector level. We also take a deep dive into H&R REIT.

Canadian REITs: Higher Yield Up North

Avantis Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

REITs have historically tended to outperform in the 12 months following the end of a rate hiking cycle by the Fed, making now an interesting time to consider REIT ETFs. REIT ETFs allow investors to gain exposure to the real estate market with a tax- and cost-efficient, highly liquid vehicle.

Is Now the Right Time to Consider REIT ETFs?

iShares Core U.S. Aggregate Bond ETF

AGNC Investment

AGNC Investment Corp - FXDFR PRF PERPETUAL USD 25 - Ser D 1/1000th int

AGNC Investment Corp. Deposit Shs Repr 1/1000th Cum Conv Red Pfd Registered Shs Series C

American Healthcare REIT Inc

American Homes 4 Rent

American Tower

Alexandria Real Estate Equities

AvalonBay Communities

Blackstone Group

Blackstone Mortgage Trust

Crown Castle International

CubeSmart

Digital Realty Trust

Healthpeak Properties Inc

Equinix

Equity Residential

Essex Property Trust

Extra Space Storage

REITweek, the annual REIT industry conference, was held last week in New York City. Humbled by two years of rate-driven headwinds, the venue halls were as quiet as any REITweek. Excitement was muted after numerous "false starts" on the long-awaited Fed pivot, a dearth of IPO and M&A activity, and a two-year period of significant underperformance versus the broader market. It can only get better: since the start of the Fed's rate hike cycle in March 2022, the REIT Index has underperformed the S&P 500 by a whopping 40 percentage-points.

State Of REIT Nation: Waiting At The Bottom

Active REIT ETFs are a strong choice for 2024 as they can potentially offer uncorrelated returns to portfolios. REIT ETFs allow investors to gain exposure to the real estate market via a tax- and cost-efficient, highly liquid vehicle.

4 Active REIT ETFs for 2024

JPMorgan BetaBuilders MSCI US REIT ETF

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

First Trust Alerian Disruptive

Nuveen Real Asset Income & Growth Fund

US Diversified Real Estate ETF

iShares Global REIT ETF

ProShares Short Real Estate

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

REIT index performance can be a leading indicator for the asset class as a whole. Our latest Asset Allocation recorded a strong quarter for listed real estate, showing signs of long-awaited resurgence. REITs send encouraging signals. A deeper analysis of sectoral returns since the Great Financial Crisis reveals no clear pattern, vindicating broad sectoral exposure.

Listed Real Estate: Searching For Positive Signals While Reviewing The Case For REITs

Ashford Hospitality Trust

Angel Oak Mortgage

Apple Hospitality REIT

Braemar Hotels & Resorts Inc

CBL & Associates Properties

City Office REIT

Camden Property

CareTrust REIT

Following the best week of the year, U.S. equity markets were mixed this week as interest rates rebounded from the prior week's plunge after Fed officials pushed back on market optimism. Posting gains in nine out of ten sessions since dipping into "correction territory" at the end of October, the S&P 500 gained 1.4% on the week, but Mid-Caps and Small-Caps posted declines. Following their best week since 2020, REITs took a step back this week as upward pressure on benchmark interest rates offset a solid conclusion to a strong earnings season.

Fed Says 'Not So Fast'

Arlington Asset Investment

Agree Realty

Boston Properties

Diversified Healthcare Trust

Ellington Financial

EPR Properties

U.S. equity markets closed-out a volatile first-half at their highest-levels of the year as investors cheered data showing continued resilience in economic activity alongside further signs of cooling inflationary pressure. Rebounding from its worst week since March, the S&P 500 advanced 2.3% to close at its highest-levels since April 2022. The Mid-Cap 400 and Small-Cap 600 each rallied over 4%. Lifted by a recovery in the most beaten-down property sectors, real estate equities led the rally on the week. The Equity REIT Index advanced 4.3% while Mortgage REITs surged 6%.

REITs Lead Quarter-End Rally

Invesco S&P 500 Equal Weight Real Estate ETF

Rates Up, REITs Down? Whether fundamentally justified or not, commercial and residential real estate markets continue to bear the brunt of the Federal Reserve's historically swift monetary tightening cycle. Commercial real estate, in particular, has been the boogeyman that bank executives have blamed for unrelated distress. While there are pockets of distress, actual default rates remain historically low. The pockets of distress are almost entirely debt-driven, with the notable exception of coastal urban office properties. Nearly every property sector reported "same-store" property-level income above pre-pandemic levels.

State Of REITs: Distress Brings Opportunity

American Assets

Armada Hoffler Properties

Alexander's

Brookfield Asset Management

Brandywine Realty

CIM Commercial Trust

Cousins Properties

Easterly Government Properties

Elme Communities

Equity Commonwealth

Empire State Realty Trust

Highwoods Properties

Hudson Pacific Properties

The new pariah of the commercial real estate sector, Office REITs, have remained in free-fall in recent months, plunging another 30% this year following a plunge of nearly 40% last year. Just how bad is it? The surge in interest rates has turned a weak-but-manageable situation into a bleak one, but there is more nuance than what the prevailing narrative would suggest.

Office REITs: The New Malls

Arbor Realty Trust

AFC Gamma

Great Ajax

Great Ajax Corp. 7.25 % Convertible Notes 2017-30.04.24 Global

Broadmark Realty Capital Inc.

Cherry Hill Mortgage

iPath Bloomberg Commodity Index Total Return ETN

Ellington Residential Mortgage REIT

U.S. equity markets finished lower for a second-straight week as data showing an encouraging cooldown of inflationary pressures was offset by ongoing regional bank instability and an unresolved debt ceiling standoff. Declining for a second week after ending April at its highest levels of the year, the S&P 500 slipped 0.3% on the week, but the tech-heavy Nasdaq 100 gained nearly 1%.

Inflation Cools, But Nobody Believes It

CBRE Group

Americold Realty

EastGroup Properties

First Industrial Realty Trust

Industrial Logistics Properties

Indus Realty Trust Inc

Jones Lang LaSalle

Lexington Realty

No slowdown here. After the worst year of performance on record in 2022, Industrial REITs have rebounded this year after earnings results showed a surprising re-strengthening of property-level fundamentals. Recent earnings results showed that demand continues to substantially outpace available supply. Rent growth reaccelerated in early-2023, with rental spreads averaging over 40%, while occupancy rates climbed to fresh record.

Industrial REITs: We Love Logistics

Bed Bath & Beyond

iShares CMBS ETF

Equity LifeStyle Properties

REIT Earnings Preview: When The Tide Goes Out.

REIT Earnings Preview: When The Tide Goes Out

Life Storage

National Storage Affiliates Trust

Storage REITs are the best-performing property sector this year after lagging in late 2022, lifted by surprisingly solid earnings results and a thawing of the previously icy-cold housing market. Storage demand is driven largely by housing activity – specifically, home sales and rental market turnover - and the recent moderation in mortgage rates has eased concern of a deepening housing recession.

Storage Wars

Ares Commercial Real Estate

BrightSpire Capital

Centerspace REIT

U.S. equity markets oscillated forcefully while interest rates plunged this week as contagion from a pair of mid-sized bank collapses spread to other lenders while authorities scrambled to contain the fallout. On brand with the "March Madness" theme this week, the S&P 500 seesawed between gains and losses in each session but ultimately ended the week higher by 1.1%.

Fed Fights 'Ghost Of Inflation Past'

AlerisLife

Chimera Investment

DigitalBridge Group

U.S. equity markets rebounded following their worst week of the year as investors parsed data showing surprising resilience in global economic activity this winter despite stiff interest rate headwinds. Snapping a three-week skid and notching its best week since late January, the S&P 500 advanced 2.0% this week, while the tech-heavy Nasdaq 100 rallied nearly 3%.

Warm Winter For Global Economy

Apartment Income REIT Corp

Apartment Investment and Management

BRT Apartments

Clipper Realty

Invitation Homes

Apartment REITs were the second-worst-performing property sector in 2022 - barely outperforming the troubled office sector - despite delivering a record year of operating performance highlighted by 20% FFO growth. Following two years of historic rent growth, there is little doubt that growth will moderate over the coming quarters. Market consensus sees a "hard landing" with rising vacancies and declining rents.

Apartment REITs: Tracking For Soft Landing

Active REIT ETFs are a strong choice for 2023 as they started the year off on a high note, outpacing broader markets. Large drawdowns in global REIT's performance last year have led to higher future return potential.

4 Active REIT ETFs for 2023

Despite delivering the strongest earnings growth of any property sector in 2022, Self-Storage REITs have stumbled of late amid a post-pandemic demand normalization and pressure from elevated supply growth. Storage demand is driven largely by housing activity – specifically home sales and rental market turnover. Rental market turnover finished 2022 near historic-lows while home sales also dipped to decade-lows.

Storage REITs: Downsized Demand

Airbnb

Booking Hlds

Carnival

Choice Hotels Int.

Chatham Lodging Trust

DiamondRock Hospitality

Expedia

Hyatt Hotels

Hilton Worldwide Holdings

Host Hotels & Resorts

Hersha Hospitality Trust Class A

Despite lingering recession concerns and recent travel disruptions, Hotel REITs have been among the better-performing sectors over the past year, buoyed by steady post-pandemic operating improvement fueling long-awaited dividend resumptions. Several years of pent-up leisure demand helped to offset a sluggish business and group travel recovery. Hotel revenues eclipsed record highs in 2022, but with wide dispersion between markets and segments.

Hotel REITs: Dividends Are Back

Amazon

FedEx

Home Depot

Lowe's

Pressured by global recession concerns, Industrial REITs dipped by 30% in 2022 - the sector's worst year on record- snapping a seven-year streak of outperformance over the broader REIT Index. The frenzied investment in logistics space clashed with already-tight supply, fueling an incredible surge in rent growth across logistics and warehouse properties. Market rents have soared 50% since early 2021.

Industrial REITs: Shortages Become Gluts

REITs have been the top-performing asset class in eight of the past 22 years and are currently trading at substantial discounts, unveiling a compelling investment opportunity for long-term investors.  REIT values can drift from the net asset value of their underlying assets, leading to the REIT trading at premiums or discounts to NAV.

As REITs Trade at Substantial Discounts, Check Out These 4 Active ETFs

Despite interest rates rising to their highest level in recent years, real estate is still an attractive investment and hedge against inflation. Global REIT performance hasn't rebounded like traditional stock markets, and large drawdowns have led to higher future return potential.

4 Active ETFs for Adding Exposure to Real Estate in Q4

Real estate as an asset class has been favored for its low correlation with traditional stock and bond investments and ability to generate current income, as these trusts must distribute at least 90% of their income to investors, according to VettaFi.

Get Exposure to Real Estate With These 4 ETFs

Global Net Lease

Healthcare Realty Trust Inc

New York City REIT Inc

Pennsylvania Real Estate Investment Trust

Strategic Residential & Apartment Real Estate ETF

Schwab U.S. REIT ETF

Simon Property Group

Presidio Property Trust

Global X SuperDividend REIT ETF

Seritage Growth Properties

Vanguard Real Estate ETF

Wheeler Real Estate Investment Trust

The REIT sector has achieved gains in only 2 of the first 7 months of 2022, including a +9.74% total return in July. Small cap (+11.68%) and mid cap (+9.09%) REITs had the greatest total returns, while large caps (+8.72%) and micro caps (+6.73%) saw more modest gains in July.

The State Of REITs: August 2022 Edition

News for Cambria Global Real Estate ETF ETF (BLDG)