Month: November 2018

Hap Stein, chairman and CEO of Regency Centers Corp. (NASDAQ: REG), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Stein said that increased competition, growth of e-commerce, and technology are all impacting retail and retail real estate.

“What it’s causing is this bifurcation among retailers between the winners—the survivors—and the losers,” Stein said. He added that companies like Sears and Toys“R”Us have been burdened by weak merchandising, service, and balance sheets.

Thomas Toomey, chairman, president & CEO of UDR, Inc. (NYSE: UDR), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Toomey commented on the underlying macroeconomics for the apartment industry. He noted that supply is expected to gradually decrease by 2020, whereas demand will be supported by demographics, the employment outlook, and wage growth.

Glenn Rufrano, CEO of VEREIT (NYSE: VER), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Rufrano said the company had a good third quarter, including good acquisition, disposition, and leasing activity. “We made AFFO guidance, so we gave new guidance for the year, and narrowed the guidance up a bit, which is good,” he said.

Heading into 2019, Rufrano said the November midterm elections may have some impact on VEREIT’s performance.

Spenser Allaway, retail analyst at Green Street Advisors, participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Allaway highlighted the efforts underway by retail landlords to remain competitive in the current evolving environment.

“Improving the overall look and feel of the mall is certainly key, but there needs to be just as much emphasis placed on the social offering of the mall as there is on its overall functionality,” she said.

Lori Marks, a senior credit officer at Moody's Investors Service, Inc., was a guest on Nareit’s REIT Report podcast, recorded in San Francisco during Nareit’s REITworld: 2018 Annual Conference.

Nelson Mills, president and CEO of Columbia Property Trust, Inc. (NYSE: CXP), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

David Neithercut, CEO of Equity Residential (NYSE: EQR), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Neithercut, who announced he would be stepping down as CEO of Equity Residential at the end of 2018 after 25 years on the company’s executive leadership team, said the biggest challenge he faced during his tenure was navigating the company through the Great Recession.

Mike Landy, president and CEO of Monmouth Real Estate Investment Corp. (NYSE: MNR), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Monmouth invests in single tenant industrial properties, with long-term leases to investment grade clients. The company has more than doubled the size of its portfolio since 2013.

Ed Fritsch, president and CEO of Highwoods Properties, Inc. (NYSE: HIW), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Development is a core part of Highwoods’ business, as the company was founded as a developer 40 years ago, Fritsch said. The current development pipeline is $658 million, or 1.8 million square feet, and is 96 percent pre-leased. “It’s just a matter of time before that cash flow comes through the door,” he said.

Joe Coradino, CEO of PREIT (NYSE: PEI), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Coradino commented on the increased sophistication of the consumer and the trend toward malls becoming centers for dining, entertainment, arts, and culture.