Videos and Interviews
Aug 8, 2019
Advisory Perspective on Effective Investor Communication
In this interview, Bayle Smith, Vice President in Green Street’s Advisory Group, stresses how important it is for REITs to clearly communicate their strategic vision, competitive advantage, and capital allocation philosophy with the investor community. Bayle further discusses areas where REITs generally can improve, primarily financial disclosure and investment materials, drawing connections to REITs’ relative performance versus peers.
Jul 26, 2019
Andy McCulloch Discusses Big Data and Proptech
In this brief interview, Andy McCulloch opines on how the explosion of data has changed the way Green Street approaches research, highlighting the increasing importance of more granular data and challenges with stock picking today. Is Green Street a Proptech company? Andy says, “Yes, and no.”
Jun 26, 2019
Vince Tibone Comments on Big-Box Issues, E-Grocery, and Mixed-Use Development
In a recent interview, analyst Vince Tibone opines on surprising demand for big-box space, e-grocery impact on shopping centers, and mixed-use development strategy. Vince makes a point to remind investors, “While mixed-use is heavily discussed today, for nearly every strip center REIT, non-retail will still only make up less than 10% of total income and therefore a small portion of the total portfolio.”
Jun 26, 2019
Senior Housing Pricing Across Dual Markets
In this 4-minute video, Lukas Hartwich shares insights on the senior housing sector, commenting on operating fundamentals and valuation differences between the private and public markets. Green Street believes senior housing is attractively priced in the private market today, versus fairly priced in the public market where senior housing REITs are trading at NAV premiums.
Jan 7, 2019
FlowTracker Helps Explain Disconnect in Public and Private Pricing
Dave Bragg discusses the relationship between public and private market real estate values. While REITs have, on average, traded in line with the underlying value of their assets over the last three decades, they have traded at least 10% above or below NAV about half the time. One explanation is that public pricing often leads private pricing. However, the public market periodically “predicts” changes in pricing that never transpire.
Dec 20, 2018
Office Cap-Ex Load Among Highest in its Property Universe
Analyst Danny Ismail shares perspective on the office sector and bright spots at the market-level. “The amount of tech companies that still want to locate in the city of San Francisco continues to be high,” he said, adding that Nashville, Austin, and Atlanta are also thriving. Ismail also said that co-working companies have had a lot of success the past few years, noting that WeWork did not exist 10 years ago, but today is the largest private tenant in Manhattan.