Videos and Interviews
Apr 19, 2018
Mike Kirby at the NYU Schack 23rd Annual REIT Symposium
Mike Kirby was featured at a recent NYU industry conference. In a ~15-minute interview, he shared his views on timing inflection points, Green Street’s contrarian view on valuation, and the outlook for malls. Mike expressed his disappointment in REIT corporate governance practices, and his perspective on index funds in the REIT market. Taking questions, Mike affirmed Green Street’s confidence in the signaling power of the public market in the face of increasingly passive ownership of publicly-traded real estate.
Mar 7, 2018
Interview with Green Street’s Executives on Real Estate and Capital Markets
In this in-depth interview, Craig Leupold and Jim Sullivan share insight on Green Street’s approach to research, the outlook for commercial property, public-private market pricing, M&A, capital flows and more.
Feb 23, 2018
Jim Sullivan on the Signals from the Listed Real Estate Market
Jim Sullivan, President of Green Street's Advisory & Consulting group, discusses the reasons why all real estate investors should look to the public market for signals on operating fundamentals and valuations.
Jan 26, 2018
Single-Family REITs Benefitting from Focus on Operations
The single-family residential REITs have done a great job controlling costs across their platform, but they are still in the early innings of finding efficiencies in operations. On the revenue side, ancillary income opportunities could be exploited in 2018 and 2019. Analyst John Pawlowski described last year’s merger between Invitation Homes (NYSE: INVH) and Starwood Waypoint Homes (NYSE: SFR) as “positive” overall, with the new merged company now “better positioned” to be a consolidator.
Jan 12, 2018
Ryan Burke Still Positive on Self-Storage
Ryan Burke, Senior Analyst, argues that the long-term outlook for the self-storage sector is pretty good despite near-term pressures. He still sees room for the overall self-storage utilization rate to increase, even though mobility is at a cyclical low in the United States. Ryan highlights the systemic underpricing that has occurred in the self-storage sector, which has allowed investors to achieve sizeable risk-adjusted returns to date.
Jan 12, 2018
Best Practices for Small Companies Competing for Capital
Green Street’s Advisory Group undertook a study of small and mid-sized REITs to identify key trends among the most successful companies and compare them to their larger REIT peers. “We found that the smaller REITs had higher highs and lower lows, so it’s a volatility issue not an underperformance issue,” Phil Owens says. He further discusses the market cap threshold to attract institutional capital, challenges for smaller companies, and areas of opportunity to become more marketable to the investment community.