Three years ago—when the Fed began raising interest rates to help stem high inflation—a valuation gap emerged between public and private real estate as evidenced by the implied cap rate from Nareit’s ...

Shopping center REITs are exploiting a persistent arbitrage between public and private real estate valuations to drive accretion for shareholders. This strategy boosts AFFO per share and unlocks value ...

Cap rates are one of the best indicators of forward returns in REITs. It is not 1 for 1 in the sense that a 5% cap rate does not translate to a 5% forward return, but a higher cap rate at purchase ...

For three years, a stubborn gap has persisted between appraisal cap rates for private real estate and the implied cap rate for REITs calculated off the FTSE Nareit All Equity Index. (As of the third ...