Brad Schwer

REITs have focused on strengthening their portfolios, deleveraging, and capital recycling in the face of higher bond yields and new construction.

Though fairly valued overall, we see attractive investment opportunities scattered across various asset classes.

Simon Property Group, Macerich, and GGP's moats have disappeared under the threat of e-commerce, and we think shares have room to fall.

The rise of e-commerce has hit shopping malls hard, and we think the pain has just begun.

It's streamlining its portfolio and looking to become a premier Manhattan landlord.

Trading at a double-digit discount to our fair value estimate, this REIT stands to benefit from a shift in Manhattan office property.

REITs appear fairly valued on average, and some rockiness could be on the horizon, but opportunity exists within certain asset classes.

Vornado Realty is set to benefit from the Hudson Yards project with 6.5 million square feet of office space and half a million square feet of retail property just east of the incoming development.

Continued tension in Washington, along with the potential inability to pass tax reform, could make for a rocky rest of the year.

Look to retail for opportunity within a fairly valued REIT sector.

Boston Properties looks fairly valued, and Vornado is cheap today as we relaunch coverage of these no-moat firms.

After a recent rating change, we see no moats among self-storage stocks, but demand for self-storage remains strong.