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REITs: This Cycle Is Just Getting Started

Chilton REIT Team profile picture
Chilton REIT Team


  • We present the top six reasons to add REITs to your portfolio today.
  • The lack of yield around the world and in most asset classes has made REITs and other yield alternatives a ‘hot’ asset class.
  • REITs are inexpensive compared to fixed income and equities.
  • REITs should be a beneficiary of the out of control fiscal stimulus actions ramping the reopening of the economy.
  • Others presented herein.
On the crest of the wave
PM Images/DigitalVision via Getty Images

As of July 31, 2021, the MSCI REIT Index has produced a year to date total return of +27.7%, which compares to our 2021 forecast of +13% to +19%. While the actual return exceeds our expectations, we also believe this is not the time to

This article was written by

Chilton REIT Team profile picture
The REIT Team of Chilton Capital Management, a Houston-based investment adviser, is headed by co-portfolio managers Bruce Garrison, CFA, and Matt Werner, CFA. Mr. Garrison has over 40 years of experience analyzing public REITs both on the buy-side and the sell-side. Mr. Werner joined Mr. Garrison on the Chilton REIT Team in 2009. The REIT Team’s strategy primarily pursues investments in publicly traded real estate investment trusts (REITs) and real estate related entities based primarily in North America. The REIT Team believes public REITs are superior vehicles for investing in real estate due to their liquidity, transparency, and total return characteristics. Investing in public securities enhances the REIT Team’s ability to diversify by geography, sector, strategy, property, and tenant while maintaining portfolio liquidity. REIT property types include apartments, regional malls, shopping centers, lodging, office, industrial, self-storage, data centers/cell towers, and a variety of health care related facilities. The REIT Team focuses on traditional methods of security analysis; primarily research, critical thought and analytical depth, which are integral to their investment process. The REIT Team’s investment approach seeks to combine its real estate industry experience with traditional methods of security selection to make sound investment decisions in real estate companies. The Chilton REIT Team manages Separately Managed Accounts (SMAs) for high net worth individuals and institutions. Additionally, the REIT Team is the sub-advisor for an open-end investment company, the West Loop Realty Fund (tickers: REIIX, REIAX, and REICX). Before investing one should carefully consider the West Loop Realty Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus and summary prospectus, a copy of which may be obtained by calling 800-207-7108. Please read the Fund’s prospectus or summary prospectus carefully before investing. The Fund may not be suitable for all investors. We encourage you to consult with appropriate financial professionals before considering an investment in the Fund. Liberty Street Advisors, Inc. is the advisor to the Fund. The Fund is part of the Liberty Street family of funds within the series of Investment Managers Series Trust. The Fund is Distributed by Foreside Fund Services, LLC. Chilton Capital Management, LLC is an independently owned and operated firm formed in 1996. Chilton provides investment advisory services for registered investment companies, private clients, family offices, endowments, foundations, retirement plans and trusts. For more information about Chilton Capital Management’s REIT Team, please visit www.chiltoncapital.com/reit/ or email info@chiltoncapital.com. Additional information about Chilton Capital Management LLC is also available on the United States Securities and Exchange Commission’s website at www.adviserinfo.sec.gov. The searchable IARD/CRD number for Chilton Capital Management LLC is 104592.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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Comments (5)

@Chilton REIT Team ,
Thanks for the article and the link to your portfolio. I didn't know you were running a REIT mutual fund. As a retiree, I'd like to see a TTM div yield above 1.28% on my REIT picks. Having said this I am holding AMT (with a 1.80% yield), but my other REIT holdings vary between 3.98% and 5.23% yield.
Governments want more inflation, it reduces the real cost of their debt and lets them spend more (ie. buy votes).

Inflation makes it harder for regular people to pay their bills but that doesn't bother governments at all because government leaders and workers salaries automatically rise more than the rate of inflation.
rickevantodd profile picture
Excellent article, however, a few recommendations would have been a nice touch. Long RQI.
Chilton REIT Team profile picture
@rickevantodd you can see our portfolio quarterly at www.morningstar.com/...
Very well written article with lots of facts and good perspectives
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