Real estate stocks have room to gain, residential in favor

REUTERS: The once-sleepy U.S. real estate sector could be poised to continue its revival into the second half of 2019 but investors are selective in their bets on property companies.

"If the Fed policy is benign and you don't see an acceleration of earnings, dividend yields and a steady cash flow are pretty attractive to investors," said Bob Zenouzi, Macquarie Investment's chief investment officer for real estate.He sees REIT dividend yields of 4.5per cent and cash flow growth of 4-5per cent bringing a high-single digit to low-double digit percentage return rate for REIT investors in the next 12 to 18 months.

But in residential REITs AEW's Szymanski favors landlords of single family houses. Companies in this sector include American Homes 4 Rent , up 21.6per cent so far this year, and Invitation Homes , up 32.1per cent. "Incomes are moving nicely but it's still challenging to put together a down payment for a home," he said adding that in multi-family homes, supply and demand are in balance.

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CapitaLand's acquisition of Ascendas-Singbridge completed, operates as unified entity from July 1MAINBOARD-LISTED property heavyweight CapitaLand will mark a new milestone on July 1 as it has completed the acquisition of Ascendas-Singbridge and will start operating as a unified entity. Read more at The Business Times.
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