Episodios

  • Episode 320: Macerich CEO Says Consumers Largely Confident, Despite Current Uncertainty

    Episode 320: Macerich CEO Says Consumers Largely Confident, Despite Current Uncertainty
    May 27 2022

    Consumers remain largely confident about their personal situations, despite a host of broader economic and geopolitical concerns, says Tom O’Hern, CEO of Macerich (NYSE: MAC). That sentiment is fueling sales and leasing volumes across the REIT’s portfolio of retail and mixed-use real estate.

    “The resiliency of the American consumer is amazing, and it is once again on display. Shoppers have come roaring back to our centers to shop with a purpose,” O’Hern told the REIT Report.

    During the first quarter, sales were 111% of what they were pre-COVID.

    “Despite the economic uncertainty regarding inflation that we haven't frankly seen in decades, higher mortgage rates, a very volatile stock market, and the war in Ukraine, American consumers remain largely confident about their own situations,” O’Hern said.
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  • Episode 300: Economy on Sound Footing Entering 2022, Providing Solid Backdrop for REIT Performance

    Episode 300: Economy on Sound Footing Entering 2022, Providing Solid Backdrop for REIT Performance
    Dec 10 2021

    The economy will enter 2022 on a firm footing and should be able to withstand a variety of challenges that have emerged in recent months, providing a backdrop for continued solid REIT performance, says Nareit Senior Economist Calvin Schnure.

    Schnure noted that the economic mood has shifted over the last couple of months, reflecting the new Omicron COVID-19 variant, supply chain issues, price spikes, and labor shortages, among other issues.

    “Overall, though, the economy is quite sound. It has a lot of strength and should be able to handle these challenges pretty easily in the year ahead,” Schnure said, particularly since many of the current challenges are related to the pandemic and should ease as COVID cases come down.

    As for the hot topics of inflation and interest rates, Schnure pointed out that inflation is still very connected to short-term bottlenecks. “We’re going to see continued concern about inflation, which the Fed is going to be watching closely,” he said, with gradual increases in interest rates likely to begin around the middle of next year.
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  • Episode 292: Homeowners Should Broaden Investment Outlook to Include Commercial Real Estate

    Episode 292: Homeowners Should Broaden Investment Outlook to Include Commercial Real Estate
    Oct 8 2021

    Investors who own their own homes may be taking a limited view of real estate investment, and in turn are missing out on the benefits of owning commercial real estate through REITs, according to Nicole Funari, Nareit vice president of research.

    Speaking on the REIT Report, Funari noted that oftentimes homeowners think they are already invested in real estate simply by owning their own home. While that is true, they also need to examine the differences between homeownership and owning commercial real estate, she said.

    “They think they are covered in their investment portfolio when we feel that, no, you really are missing out on the benefits of commercial real estate,” especially because a lot of homeowners don’t consider the breadth of commercial real estate asset classes, Funari said.
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  • Episode 275: REIT Recovery From the Worst of the Pandemic Underway, Nareit T-Tracker Shows

    Episode 275: REIT Recovery From the Worst of the Pandemic Underway, Nareit T-Tracker Shows
    Mar 15 2021
    Nareit’s T-Tracker fourth quarter 2020 data indicate that the REIT industry is recovering from its weakest levels seen during the pandemic.

    Speaking on the REIT Report, Nareit Senior Economist Calvin Schnure said the REIT industry is “showing a good continuing recovery, not a complete recovery, but a recovery from the worst part of the pandemic a year ago.”

    According to the T-Tracker, funds from operations (FFO) of all equity REITs gained 11.3% in the fourth quarter from the third quarter, which itself was 10.3% higher than the second quarter. The recovery is not uniform, Schnure pointed out. Earnings for sectors at the front line of the shutdown, such as lodging and retail, continue to be quite weak. Other sectors have benefitted, namely those that support the digital economy, as well as industrial.
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  • Retail Sales Continued to Rebound in July, Supporting Retail REITs

    Retail Sales Continued to Rebound in July, Supporting Retail REITs
    Aug 17 2020
    Retail sales data for July point to a resumption in consumer spending, providing a boost for the retail REIT sector that has been under pressure throughout the coronavirus crisis, according to Nareit Senior Economist Calvin Schnure.

    Retail sales rose 1.2% in July. While the increase was slower than that seen in the previous two months, sales rose to a level that was higher than before the crisis. Schnure noted that this is the fastest in history that retail sales have ever fully reversed the decline that occurred during a recession.

    “This is good news for the retail REITs in the months ahead, that we’re seeing the retail spending coming back,” he said.
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  • Family Rental Housing Segment Plays Key Future Role, ULI Expert Says

    Family Rental Housing Segment Plays Key Future Role, ULI Expert Says
    Jul 16 2020
    Family renter households are likely to account for a growing share of the overall renter pool as the millennial generation begins to raise families and create homes of their own, says Christopher Ptomey, executive director of the Urban Land institute’s Terwilliger Center for Housing.

    Families currently account for about a third of the overall renter pool, Ptomey told Nareit’s REIT Report, but that is likely to change. “The millennial generation is reaching a tipping point demographically,” he said. “With the size of the millennial generation, we really expect that family renter cohort being a larger and larger portion of the overall number.”
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