Real Estate Securities

Real Estate Securities

The modern REIT market is continuously evolving and expanding, providing access to a diverse global opportunity set led by new-economy property types. Integrating listed REITs with private real estate investments may provide benefits to implementation and return potential. REITs have historically been effective diversifiers, delivering strong, low-correlated returns, attractive dividends and inflation-hedging characteristics.

Despite the prospect of near-term volatility, REITs are well positioned to help mitigate higher interest rates, sticky inflation and challenging economic conditions, in our opinion

REITs

REITs have historically delivered strong performance following interest-rate increases

Listed real estate securities are well positioned to withstand elevated inflation as well as stagflation

REITs have solid dividend growth prospects and cash flow growth estimates above their historical average

The Real Estate Reel: The listed REIT selloff, valuations, and the private CRE correction
November 2023 | 4 mins
We see a regime change in what’s driving the recent listed REIT selloff. REIT valuations appear cheap. And the pattern in the decline in private real estate is reminiscent to what occurred in the wake of the 1990s S&L crisis, indicating the selloff and recovery could be a slow grind. Watch this month’s Real Estate Reel to find out what these data points mean for real estate investing.
Author Profile Picture

Rich Hill


Putting the recent selloff in U.S. listed REITs into perspective
October 2023 | 10 mins
We’ve argued over the course of this year that markets presented attractive entry points for listed real estate. Recent declines in listed REIT valuations, driven by macroeconomic uncertainty, do not alter this view.
The Real Estate Reel: We’re watching institutional allocations, CRE debt and property price disconnects
October 2023 | 5 mins
Institutional investors have increased their allocations to real estate, CRE debt delinquency rates are increasing but remain relatively low, and CRE valuations are down more than 16% so far this year. Watch this month’s Real Estate Reel to find out what these data points mean for real estate investing.
Author Profile Picture

Rich Hill

Sign up to get our insights delivered to your inbox

OUR TEAM

Cohen & Steers has been at the forefront of real estate investing for more than 30 years. Founded as the world’s first investment manager dedicated to real estate securities, we leverage our expertise in an effort to deliver superior results to our clients. Today, Cohen & Steers employs one of the world’s largest teams of investment professionals dedicated to real estate securities, with portfolio managers, research analysts and traders located in offices in New York, London and Hong Kong.

Author Profile Picture 1168

Jon Cheigh, Executive Vice President, Chief Investment Officer and Head of Real Estate, leads the investment department and oversees the real estate team.

Author Profile Picture 1191

Rogier Quirijns, Senior Vice President, is Head of Europe Real Estate and a senior portfolio manager and oversees the research and analyst team for European real estate securities.

Author Profile Picture 1187

William Leung, Senior Vice President, is Head of Asia Pacific Real Estate and a portfolio manager for global real estate securities portfolios.

Author Profile Picture 1197

Jason A. Yablon, Executive Vice President, is Head of U.S. Real Estate and a senior portfolio manager for U.S. real estate securities portfolios and oversees the research process for U.S. real estate securities.

Author Profile Picture 1185

Mathew Kirschner, CFA, Senior Vice President, is a portfolio manager for U.S. real estate securities portfolios.

Author Profile Picture 1181

Leonard Geiger, CFA, Senior Vice President, is a portfolio manager and a senior research analyst who oversees the research of the office and residential sectors in Europe.

Author Profile Picture 1199

Ji Zhang, CFA, Senior Vice President, is a portfolio manager for global real estate portfolios.

Author Profile Picture 1180

Dane Garrood, Senior Vice President, is a portfolio manager for Asia Pacific real estate securities portfolios and has security coverage responsibility for Australia and New Zealand.

As private real estate sells off, our conviction in REITs grows

Watch video

Recent market events, including a downturn in private real estate, give us greater conviction in our analysis showing favorable entry points emerging for listed REITs.

Investing in Real Estate Securities

Watch video

Real estate securities allow investors to access the beneficial investment characteristics of real estate ownership, while addressing some of the challenges that arise from the capital-intensive and illiquid process of investing in properties directly. Portfolio Specialist Evan Serton provides a brief overview of the global REIT market, its attributes, and Cohen & Steers' approach to investing in this unique asset class.

The intersection of listed and private real estate

Watch video

We believe optimizing real estate portfolios requires access to both listed and private markets.

Office sector headwinds and opportunities

Watch video

Office landlords have been heavily impacted by the pandemic and now face uncertainty as tenants evaluate their needs in hybrid working environments.

Why we see favorable entry points emerging for REITs Investing in Real Estate Securities

As private real estate sells off, our conviction in REITs grows

Recent market events, including a downturn in private real estate, give us greater conviction in our analysis showing favorable entry points emerging for listed REITs.

Watch video

Investing in Real Estate Securities

Real estate securities allow investors to access the beneficial investment characteristics of real estate ownership, while addressing some of the challenges that arise from the capital-intensive and illiquid process of investing in properties directly. Portfolio Specialist Evan Serton provides a brief overview of the global REIT market, its attributes, and Cohen & Steers' approach to investing in this unique asset class.

Watch video

The intersection of listed and private real estate

We believe optimizing real estate portfolios requires access to both listed and private markets.

Watch video

Office sector headwinds and opportunities

Office landlords have been heavily impacted by the pandemic and now face uncertainty as tenants evaluate their needs in hybrid working environments.

Watch video

EXPLORE OTHER THEMES