Seeking Alpha

RayJay updates top REIT picks

  • American Residential Properties (ARPI +1.6%) is added to Raymond James' REIT Priority List - since its introduction 15 years ago, the Priority List has delivered a cumulative return of 249% vs. 181% for the MSCI U.S. REIT Index.
  • ARPI is boosted thanks to the team's increasingly positive view on the single-family rental business as well as the valuation - an 18% discount to NAV.
  • Removed from the list are CubeSmart (CUBE -1.3%) and Pebblebrook Hotel Trust (PEB +0.3%) after both have strongly outperformed the broader REIT sector YTD.
  • Remaining on the list are: Parkway Properties (PKY), Ramco-Gershenson Properties Trust (RPT), Rayonier (RYN), RLJ Lodging Trust (RLJ) and Stag Industrial (STAG).
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