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    Undervalued REITs Poised for Recovery

    Opublikowano przez Adam Nowacki włączony 3 stycznia, 2024
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    Real estate investment trusts (REITs) have faced challenges in recent years, but the outlook is now improving as these undervalued REITs adapt to changing market dynamics. Three portfolio managers have identified their top picks for REITs that are poised for a strong recovery.

    Dean Orrico, CEO of Middlefield Capital Corp., highlights Granite Real Estate Investment Trust (GRT-UN-T) as a top pick. This industrial REIT is benefiting from the e-commerce trend and growing onshoring activity. Despite initial concerns about rising interest rates and an increase in industrial building supply, Granite’s unit price has steadily risen, offering an attractive investment opportunity.

    Minto Apartment Real Estate Investment Trust (MI-UN-T) is another top pick, according to Orrico. This Canadian-focused REIT is well-positioned to meet the growing demand for rental accommodations in the face of a housing shortage. The REIT has been addressing rising interest rates by selling non-core assets to reduce debt. Orrico predicts that Minto Apartment REIT’s unit price could potentially reach the $18-19-per-unit range within the next seven months.

    Lee Goldman, portfolio manager at CI Global Asset Management, recommends First Capital Real Estate Investment Trust (FCR-UN-T). This retail-focused REIT owns grocery store-anchored shopping malls in major Canadian cities. Limited retail development over the past decade positions First Capital to benefit from rising lease rates. While elevated interest rates have affected the REIT, its asset divestment strategy is improving its balance sheet. Goldman believes that First Capital has further room for growth and expects its unit price to increase.

    Ventas Inc. (VTR-N) is highlighted as a top pick by Goldman. This U.S.-based health care REIT is poised to capitalize on the growing demand for seniors’ lodging driven by the aging baby boomer population. Despite challenges from high interest rates and operational issues, Ventas is positioned for recovery as occupancy rates rebound. Goldman notes that Ventas trades at a significant discount compared to its main competitor, Welltower Inc., suggesting potential future growth.

    Lastly, Dennis Mitchell, CEO of Starlight Capital Inc., identifies RioCan Real Estate Investment Trust (REI-UN-T) as a top pick. This Toronto-based REIT is involved in the development of retail-focused projects and mixed-use properties. With several projects nearing completion, RioCan’s profit is expected to ramp up. The REIT’s positive cash flow from leased retail space in The Well retail-and-condo project in downtown Toronto further adds to its growth potential.

    As these undervalued REITs adapt to changing market conditions, investors have the opportunity to capitalize on their potential rebound. It’s important to consider the associated risks and conduct thorough research before making investment decisions.

    The source of the article is from the blog reporterosdelsur.com.mx

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