18th Annual REIT Conference
The New York Society of Security Analysts (NYSSA) will present the 18th Annual REIT Conference on March 19, 2008. After outperforming the U.S. stock market for seven consecutive years, REITs plummeted in 2007 amidst the credit crunch and growing concerns about the economy.
At the end of 2007, the NAREIT Equity REIT Index was down 17.8% for the year. Among equity REITs, the residential, mixed use, and self storage categories fared poorly, with declines of over 22%. But mortgage REITS have been hit hardest, with the separate FTSE NAREIT Mortgage REIT Index losing over 42% of its value.
Despite the downturn, many analysts see a silver lining: on average, REITs are trading approximately 20-30% less than their net asset value, and the industry is set to rebound in 2008 as investors recognize its underlying strength. In addition, REITs are still a solid defensive investment—often up when the rest of the market is down and still paying an average dividend yield of almost 5%.
The following companies are presenting First Industrial Realty Trust, Inc. (NYSE: FR); Medical Properties Trust, Inc. (NYSE: MPW); National Retail Properties, Inc. (NYSE: NNN); Thornburg Mortgage, Inc. (NYSE: TMA); and W. P. Carey & Co. LLC (NYSE: WPC).
The conference will be held on March 19, 2008, 8:30 a.m. to 2:10 p.m. at NYSSA, 1177 Avenue of the Americas, 2nd Floor, NYC. Registration deadline is March 12, $265 NYSSA members, $365 nonmembers. No charge for press with credentials.
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