Hal Morris, writing Thursday on his Grumpy Editor blog, has problems with a Wall Street Journal article that lumps all real estate investment trusts together in an outlook piece when many of them have different strategies.
“But the almost half-page story focuses mainly on office REITs and devotes three long paragraphs on Atlanta-based, New York Stock Exchange-listed Cousins Properties Inc., which the writer reported ‘posted a 3 percent loss in the third quarter — making it the worst performer in the Dow Jones index among REITs with a market capitalization greater than $500 million.’
“Cousins’ portfolio includes commercial and office properties, including a troubled 25-story office tower in Atlanta.
“While the office (and industrial) segment is a major part of the REIT industry’s mix, others in the field — with about 200 REITs publicly traded — distinguish themselves by specialization: • Retail; • Residential; • Health care; • Self storage; • Mortgage backed; • Lodging/resort; • Diversified; • Specialty.
“So a true REIT roundup should touch on representative companies in all categories.”
Read more here.
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