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REIT Replay: Markets rebound as trade-war fears abate

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Six trends shaping the industries and sectors we cover in 2021

Six trends shaping the industries and sectors we cover in 2021

Capital Markets View – January 2021


REIT Replay: Markets rebound as trade-war fears abate

After recording their biggest one-week declines since January 2016, the Dow Jones Industrial Average soared almost 670 points and the S&P 500 pushed higher amid indications of a trade policy rhetoric reassessment between the U.S. and China. Real estate investment trusts also closed in the black Monday, March 26.

Pure Industrial Real Estate Trust said after market close Friday that its proposed sale to an affiliate of private equity giant Blackstone Group LP's core-plus real estate investment unit received approval from the industrial REIT's unit holders.

Pure Industrial shares gained 0.25% to close at C$8.09.

Ventas Inc. brought in former Jones Lang LaSalle Inc. executive Peter Bulgarelli to serve as its executive vice president of office and president and CEO of its medical office building and university-based life science portfolio. The healthcare REIT said the appointment will take effect April 9.

Ventas shares climbed 0.21% to close at $48.21.

Diversified REIT Forest City Realty Trust Inc. is partnering with Trademark Property to develop a 40-acre mixed-use complex that will initially feature 400,000 square feet of shopping and restaurant space and up to 4 million square feet of commercial and residential space in Dallas, according to The Dallas Morning News.

Forest City shares inched up 0.30%, closing at $19.96.

Canadian Real Estate Investment Trust's proposed merger with Choice Properties Real Estate Investment Trust, which focuses on supermarket- and drug store-anchored shopping centers and stand-alone supermarkets and drug stores, gained support from two proxy advisers. Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC recommended that Canadian REIT unit holders approve the merger at the diversified REIT's April 11 special meeting.

Canadian REIT shares edged 0.22% higher to close at C$50.47, and Choice Properties shares ticked up 0.78% to close at C$11.69.

Healthcare REIT Quality Care Properties Inc. disclosed after markets closed Friday that its shareholders now have the power to amend the company's bylaws via an affirmative majority vote.

Shares of Quality Care Properties added 1.78%, ending the day at $18.92.

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Family offices becoming more aggressive players in real estate arena: Advisers to high-net-worth families described increasingly proactive real estate investment strategies in their client base, as attractively priced assets have become scarce and families' lists of beneficiaries have expanded.

Research Roundup: Evercore upgrades Forest City Realty; Mizuho initiates First Industrial Realty: Analysts also reiterated their ratings on Healthcare Trust of America and Vornado in this roundup of recent research reports.

Market prices and index values are current as of the time of publication and are subject to change.