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Advisor Insights

A Place to Stay

As the real estate cycle nears its end, long-term opportunities remain.

As a potential recession looms, investors may seek safe haven in REITs. However, the Morningstar US REIT Index has been among the top-performing indexes in the Morningstar lineup for the year to date through September— and over the past decade. After such a strong run, is there value to be had? And with interest-rate increases a possibility on the horizon, are REITs the best retreat?

I sat down with Kevin Brown, who follows apartment, healthcare, and retail REITs, and Yousuf Hafuda, who covers office REITs, to explore opportunities for long-term investors. Our conversation took place on Sept. 11, and valuation data is as of that date. The transcript has been edited for length and clarity.

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