The REIT Stuff with Jon Cheigh of Cohen and Steers

Did you know that one of the biggest sectors in the REIT market today is cell phone towers? Or that REITs tend to generate positive returns in rising interest rate environments? This week on the Insight Bridge, Jon Cheigh, CIO and Head of Global Real Estate for Cohen & Steers sits down with FEG’s Greg Dowling to discuss all things REITs. From malls to cell towers and self-storage, REIT allocations have been shifting over time and have grown to positions of prominence in many portfolios, with over $1.6 trillion invested in U.S. REITs alone. In this episode, Jon shares his insights on the role of the indices as a forecaster for the future, his strategies for REIT valuation, and his thoughts on near- and longer-term trends in the space.

Chapters

0:30 Episode Introduction

1:15 Welcome

1:45 What exactly is a REIT?

3:02 The size and scope of the REIT universe

4:06 Factors behind the recent success of REITs

5:40 Rate sensitivity of REITs

7:01 The impact of COVID-19 on real estate

9:54 Best retail investment plays

12:18 Jon’s take on office space

16:53 Breaking down the rich pricing of hotels

19:32 REIT areas of interest and potential areas of growth

22:48 Best ways to value real estate

24:21 Comparing public and private valuations

27:37 How politics and policies impact real estate

29:39 The ex-U.S. REIT universe

33:20 The size of the average real estate portfolio and the role of REITs

Disclosures

This information was prepared by Fund Evaluation Group, LLC (FEG), a federally registered investment adviser under the Investment Advisers Act of 1940, as amended, providing non-discretionary and discretionary investment advice to its clients on an individual basis. Registration as an investment adviser does not imply a certain level of skill or training. The oral and written communications of an adviser provide you with information about which you determine to hire or retain an adviser. Fund Evaluation Group, LLC, Form ADV Part 2A & 2B can be obtained by written request directed to: Fund Evaluation Group, LLC, 201 East Fifth Street, Suite 1600, Cincinnati, OH 45202 Attention: Compliance Department.

This information is prepared for informational purposes only. It does not address specific investment objectives, or the financial situation and the particular needs of any person who may receive this presentation. Neither the information nor any opinion expressed in this report constitutes an offer, or an invitation to make an offer, to buy or sell any securities.

The information herein was obtained from various sources. FEG does not guarantee the accuracy or completeness of such information provided by third parties. The information in this presentation is given as of the date indicated and believed to be reliable. FEG assumes no obligation to update this information, or to advise on further developments relating to it.