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2017年瑞资的表现超过该行业长期平均水平

January 5, 2018

    根据美国瑞资REIT行业协会负责行研的高级副总裁Brad Case的调查,尽管瑞资REIT的股票市场业绩在2017年整体不佳,但是该行业的表现超过了该行业的长期平均水平。

    截至12月15日,Nareit指数的总回报率为10.2%。

    Case说,2017年美国股票回报率高的主要是大盘股,特别是科技股。这反过来又使瑞资股票显得相对疲弱。

    Case预计2018年的业绩将出现逆转,他指出,科技股和大盘股已大幅升值。另一方面,瑞资并没有因为经济基本面的强劲力量而得到回报。因此,相对于其他投资,它们的价值被低估了。所以,他预计瑞资在2018年的表现将超过大盘。与此同时,Case指出,2017年,六家瑞资REIT地产板块的表现强于大盘,其中基础设施投资回报率接近35%,科技地产瑞资回报率接近30%。另一方面,2017年唯一亏损的瑞资类型是购物中心。展望未来,随着投资者更加关注零售模式,并考虑购物中心瑞资的盈利能力,Case认为,这种差距将会缩小。

 

 

英文原文:

 

    REITs have outperformed the industry’s long-term average in 2017 despite under-performing the broader stock market,according to Brad Case, Nareit senior vice president for research and industry information.

    As of Dec. 15, total returns of the FTSENareit-All REITs Index were 10.2 percent for the year.

    Returns in the broader market were dominated by large-cap stocks, especially tech stocks, Case said. That, in turn, made REIT investments look relatively weak.

    Case said he is forecasting a reversal of 2017’s performance next year, noting that tech stocks and large cap stocks have become “aggressively valued.” REITs, on the other hand, have not been rewarded for the strength of market fundamentals, according to Case. As a result, they have become undervalued relative to other investments, he said.

    Case said he expects REITs to outperform the broader stock market in 2018.Meanwhile, Case pointed out that six REIT property segments outperformed the broader market in 2017, led by infrastructure REITs with total returns close to 35 percent and data center REITs with returns of nearly 30 percent as of Dec. 15.At the other end of the scale, the only REIT segment that has lost money in 2017 has been retail, Case said.Going forward, as investors look more closely at the role of changes in retail patterns and consider the earning power of retail REITs, “you’re likely to see some closing of that gap,” Case said.

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