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Real Estate Securities

We believe vaccines and value are setting up a strong vintage year for REITs

  • REITs have a history of strong returns, attractive dividends and diversifying correlations

  • The evolving market provides access to next generation growth themes

  • Integrating listed REITs with private real estate investments may provide unique opportunities 

Overview

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.

Asset Class Insights

Listed Real Estate

The future of office: Looking beyond work-from-home challenges

We believe hybrid work policies will likely impede office rent growth over the next several years, but it’s important not to paint all markets with the same broad brush.

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Listed Real Estate

Strong foundations: The case for real estate securities

Listed real estate offers access to high-quality assets with strong growth potential, providing an efficient, liquid vehicle for investors seeking the unique benefits of real assets.

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Listed Real Estate

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. Senior Analyst Alec Overby reviews the current state of the sector, including the changing work-from-home landscape, our outlook over the near and long term, as well as how we see valuations and potential for opportunity.

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Listed Real Estate

Real estate open for business

As the global vaccine rollout continues, listed real estate appears well positioned to benefit from a cyclical recovery, housing demand and digital growth.

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Listed Real Estate

Plan asset diversification: Why real estate

Low correlations to stocks and bonds and other investment features can make REITs a prudent investment alternative for defined contribution plans.

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Listed Real Estate

REIT investing and the active advantage

The diversity and complexity of the modern REIT market give specialist managers a wide field of opportunities to potentially enhance returns.

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Listed Real Estate

Rising rents matter more to REITs than rising rates

A strengthening economy may drive interest rates higher, but it can also give landlords greater ability to raise rents, which has historically supported attractive REIT returns.

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Listed Real Estate

REITs well positioned for a Grand Reopening

Vaccines, policy and consumer trends are uniting to create opportunities across the real estate landscape, setting up 2021 as a potentially strong “vintage year” for REITs.

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Listed Real Estate

Vaccines and value setting up a strong vintage year for REITs

We believe vaccine distribution is paving the way for REITs to recover from historic relative lows, potentially creating attractive entry points in 2021.

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Listed Real Estate

REITs: Answering the call for DC plan diversification

For fiduciaries looking to enhance diversification in defined contribution plans, we believe REITs can be a simple and effective addition to investment lineups.

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Listed Real Estate

A Modern Perspective on REITs

As REITs emerge from the Great Shutdown of 2020, Cohen & Steers is finding attractive opportunities across the market—from cyclical property sectors that should benefit from economic reopening, to REITs that own the buildings that make e-commerce and cloud computing possible.

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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.

Portfolio Managers

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.

Portfolio Managers



Jon Cheigh
Chief Investment Officer and
Head of Global Real Estate

 
Rogier Quirijns
Head of European Real Estate,
Senior Portfolio Manager

 
William Leung
Head of Asia Pacific Real Estate

 
Jason Yablon
Head of U.S. Real Estate,
Senior Portfolio Manager

 
Mathew Kirschner
Portfolio Manager

 
Leonard Geiger
Portfolio Manager

 

Ji Zhang
Portfolio Manager

 
Dane Garrood
Portfolio Manager

 

 

Our solutions

As a global investment manager, our real estate strategies cover a wide range of markets, allowing investors to benefit from one of the largest and most experienced real estate securities investment teams in the industry. This scale also allows us to partner with institutional clients to implement custom listed real estate strategies tailored to meet specific allocation objectives.

Videos

Listed Real Estate

Office sector headwinds and opportunities

6:57
Listed Real Estate

REIT investing: The active advantage

5:29
Listed Real Estate

REITs in a rising rate environment

5:54
Listed Real Estate

REITs: Vaccines and Value

4:40
Listed Real Estate

Where Real Estate and Technology Intersect

3:49
Office sector headwinds and opportunities
REIT investing: The active advantage
REITs in a rising rate environment
REITs: Vaccines and Value
Where Real Estate and Technology Intersect

Important Disclosures

This information is provided for informational purposes only, and should not be construed as legal or tax advice. You should consult your legal or tax advisor regarding your individual circumstances. Diversification does not guarantee a profit or protect against a loss.

The views and opinions are as of the date of publication and are subject to change without notice. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice and is not intended to predict the performance of any investment. We consider the information to be accurate, but we do not represent that it is complete or should be relied upon as the sole source of appropriateness for investment. There is no guarantee that any historical trend illustrated above will be repeated in the future, and there is no way to predict precisely when such a trend will begin. There is no guarantee that a market forecast set forth in this commentary will be realized.

Please consider the investment objectives, risks, charges and expenses of any U.S. Registered open-end fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained by calling 1-800-330-7348 or clicking here. Please read the prospectus carefully before investing.

Risks of Investing in Real Estate Securities
Risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technological developments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions. Foreign securities involve special risks, including currency fluctuations, lower liquidity, political and economic uncertainties, and differences in accounting standards. Some international securities may represent small- and medium-sized companies, which may be more susceptible to price volatility and less liquidity than larger companies. Securities of companies in emerging markets may be more volatile than those of companies in more developed markets. Emerging market countries generally have less developed markets and economies and, in some countries, less mature governments and governmental institutions. Investing in securities of companies in emerging markets may entail special risks relating to potential economic, political or social instability and the risks of expropriation, nationalization, confiscation or the imposition of restrictions on foreign investment, the lack of hedging instruments, and on repatriation of capital invested. The securities and real estate markets of some emerging market countries have in the past sometimes experienced substantial market disruptions and may do so in the future. The economies of many emerging markets countries may be heavily dependent on international trade and, accordingly, have been and may continue to be adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they wish to trade.

Welcome

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Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions.

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You also acknowledge that you will be shown information on Cohen & Steers funds offered inside the United States. These funds have not been authorized for distribution in any country outside the United States and are not available for purchase by non-US persons, who may experience adverse tax consequences as a result of such investment.

By choosing this option, you acknowledge that you will be shown information on Cohen & Steers funds offered outside the United States. The information is intended only for use by institutional and professional investors outside the United States and their advisors. This information is not intended for retail investors in jurisdictions in which these funds are not authorized for distribution or in which the dissemination of information regarding the funds is not permitted.

You also acknowledge that you will be shown information on Cohen & Steers funds offered inside the United States. These funds have not been authorized for distribution in any country outside the United States and are not available for purchase by non-US persons, who may experience adverse tax consequences as a result of such investment.

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