Nareit's REIT Report Podcast

Nareit

A show about the latest news and developments in REITs and real estate investment. All episodes feature informative and timely interviews with REIT and publicly traded real estate executives, analysts, industry professionals, and thought leaders. 

  1. 13h ago

    Yardi’s Randy Moss on the Link Between Regulatory Changes, Rising Energy Costs, NAV

    Randy Moss, industry principal at Yardi, joined the REIT Report podcast to discuss the relationship between regulatory changes, rising energy costs, and net asset value (NAV), as well as how improving energy and utility data quality can reduce risk and support stronger REIT valuations. Yardi is a Nareit Real Estate Sustainability Partner. When evaluating potential real estate investments, cash flows often take center stage, Moss noted. Investors are increasingly looking for properties that not only have robust cash flows but also incorporate efficiency improvements. Enhancements that boost property efficiency can lead to maximized rents per square foot and higher occupancy rates, ultimately contributing to a more favorable NAV. Moss discussed how recent regulatory trends have introduced new challenges for real estate investors. Building performance standards (BPS) have emerged, mandating that owners meet specific energy and greenhouse gas emissions caps. As these regulations evolve, they come with significant penalties for non-compliance, impacting long-term cash flows dramatically. New York City’s Local Law 97 sets stringent limits on emissions and requires reporting based on historical data. With nearly 27,000 buildings affected, compliance is a critical factor in maintaining property value and investment viability. Chapters:  00:50 Meet The Guests  01:24 How Investors Value Buildings  02:22 New Risks To NAV  02:55 Building Performance Standards  04:10 Local Law 97 Fines  05:40 Compliance Keeps Tightening  06:50 Why Data Quality Matters  08:22 AI With Human Oversight  10:50 Why Power Prices Rise  13:34 Future Policy Uncertainty  14:56 Mitigating Energy Cost Risk  18:08 BPS Lease And Tracking Tips  20:48 Bring In Leadership  22:49 Wrap Up And Subscribe

  2. 5d ago

    AEW’s Mike Acton Says Fundamental Property Investment, Asset Management Essential

    Mike Acton, head of research and strategy at AEW, told the REIT Report podcast that with interest rates remaining high, and likely to stay that way for some time to come, the next couple of years for real estate are going to be all about income growth. That income growth is going to be generated through fundamental property investment and asset management, Acton said. That involves picking the right property in the right location, controlling expenses, keeping it occupied, being smart about capex, and having the discipline to sell it when it's time, he noted. “These are all sort of old school real estate skill characteristics. That's what's going to be rewarded in the marketplace over the next handful of years. It's not going to be taking risk and hoping for yield compression. It's going to be growing income the old-fashioned way,” Acton said. Acton also said that this is a good entry point into the market, with yields the highest they've been in at least a decade and most assets trading below physical replacement cost. “Those are great entry point signals but it's not broad based,” he noted. Today, it’s very much a sector, location, and property-specific market, he stressed. Chapters:  00:00 Back to Basics Investing 00:58 Macro Forces and Rates 02:05 Why Now Is Entry Point 02:59 Income Driven Returns 04:26 Supply and Construction Reset 05:05 Adaptive Reuse Reality Check 05:52 Transactions Tell Truth 06:42 Sector Winners and Activity 07:11 Senior Housing Boom 08:40 Affordability Challenge 09:30 Second Half Themes 10:12 Old School Asset Management 11:13 Closing Thoughts and Wrap

  3. Jul 23

    Principal’s Rich Hill on REITs’ Transition from Recovery to Expansion

    Rich Hill, Global Head of Research and Strategy at Principal Asset Management, told the REIT Report podcast that the REIT market’s transition from recovery into expansion is an important signal that indicates the path forward for the broader commercial real estate market. REIT gains so far in 2026 indicate that “predictable earnings and income-driven total returns are becoming more attractive again. That's been out of favor for the past several years, but it seems to be a little bit more in vogue right now,” Hill said. Hill stressed that dispersion in returns is a continuing theme in the CRE market and “investors are going to have to recognize that this cycle is really about picking the right property types in the right markets…this is a cycle for selectivity, this is not a cycle where you can play broad-based mega themes.” Hill said the current cycle should also be viewed through a longer-term lens. Market expansions, he explained, usually last around 12 years. “Why do they last so long? It's just not about price returns, it's also about underappreciated income returns. We think this is actually a really interesting cycle. If you think you've missed the bottom, you haven't. This is going to play out for a long period of time.”

  4. Jul 16

    Nareit’s Ed Pierzak Sees Strong Momentum for REITs in 2026 and Beyond

    Nareit Senior Vice President for Research Ed Pierzak joined the REIT Report podcast to review key themes of Nareit’s 2026 mid-year update. He noted that REITs have maintained their outperformance so far this year, with all but two sectors posting gains, and pointed to “really strong momentum” for REITs not only for the remainder of 2026, but beyond. Pierzak noted that often when REITs outperform early in the year, they tend to best broad equity market performance through the remainder of the year—barring any unexpected shocks. As for REIT sectors, he noted that data centers have been one of the top performers so far this year, after they were one of the worst performers in 2025. Taking the top spot this year to date is lodging and resorts, fueled by very strong leisure and business travel demand, Pierzak said. Elsewhere in the podcast, Pierzak discussed the valuation divergence seen between REITs and the broader equity market, as well as private real estate, and the potential for outperformance when that gap closes. He also commented on REIT M&A trends, as well as how REITs are increasingly being used to complement existing investment portfolios. 0:00 — Why REITs Now 0:21 — Welcome and Guest Intro 0:40 — 2026 Performance in Context 1:58 — Sector Winners and Losers 3:13 — REITs vs Equity Valuations 4:07 — Public vs Private Pricing Gap 5:41 — What Divergence Means 6:17 — M&A and Industry Consolidation 7:15 — Capital Access and Financing 8:10 — Outlook for Rest of 2026 9:07 — Wrap Up and Subscribe

  5. Jul 9

    Multifamily REIT UDR CFO on Adopting Monthly Dividends, Record Low Turnover

    Dave Bragg, CFO at UDR, Inc. (NYSE: UDR), joined the REIT Report podcast to discuss the multifamily REIT’s decision to adopt a monthly dividend, its strategic focus on operational excellence, and the current state of the multifamily real estate market.  Bragg noted that adopting a monthly dividend reflects the REIT’s efforts to seek new and different sources of capital, including individual investors. Through a range of education efforts, UDR is looking to showcase its “50-year history of about $9 billion of dividends paid,” and a healthy dividend yield today that has been characterized by “stability and growth over time.” UDR is also increasingly applying a data-driven approach to capital allocation, according to Bragg. “It's a very collaborative process that has informed our dispositions and our share buybacks, which have been a focus so far this year,” he said.

  6. Jul 2

    Barclay’s Brendan Lynch on Data Center REITs’ Extended Growth Opportunity Amid AI Demand

    Brendan Lynch, co-head of U.S. equity REIT research at Barclays, discussed data center REITs on the latest REIT Report episode, noting that the sector is rebounding as enterprise AI demand accelerates, leasing pipelines grow, and investors seek more direct exposure. Lynch said the recent Blackstone Digital Infrastructure Trust (NYSE: BXDC) IPO shows “there are investors who are looking for a specific type of exposure,” in the data center sector, notably stabilized assets. Meanwhile, record demand should support revenue growth, margin expansion, and cash flow growth as operators scale, he said. Development yields have improved from 6% to 7% in 2021–2022 to low double digits and, in some cases, the mid-teens, although customers’ ability to self-build limits the upside. Power remains a key constraint, Lynch observed, but operators are getting more creative through retrofits, grid solutions, and behind-the-meter options. On regulatory pushback, “a lot of the things that are the cause of NIMBYism, I think, are misunderstandings about how data centers can fit into a given environment," he said. Chapters:    00:00 AI CapEx Runway 00:39 Welcome to REIT Report 00:58 Data Center REIT Comeback 02:39 Leasing Pipelines Growth 03:08 Development Yields Shift 04:28 Power Constraints Markets 05:38 Creative Power Solutions 06:06 NIMBY Pushback Regulation 07:41 Winners Ecosystem Pricing 08:49 Is Now Good Entry 09:53 Data Centers in Space 10:53 Wrap Up Subscribe

  7. Jun 25

    Kimco Realty’s David Bujnicki on Navigating Today’s Shifting IR Landscape

    David Bujnicki, senior vice president of investor relations and strategy at Kimco Realty(NYSE: KIM), joined the REIT Report podcast to discuss the significant changes that have occurred across the investor relations landscape. The importance of understanding your audience, leveraging technology, educating and managing expectations, and soliciting feedback were among the main themes addressed. Bujnicki described how the focus of investor relations has shifted from net asset value and portfolio management to earnings growth and how companies are managing their cost of capital. He attributed this to the continued rise of passive investors and hedge funds that are more short-term focused. He emphasized the importance of adapting IR strategies to cater to the evolving needs of these investors. Furthermore, educating investors on operational fundamentals has become crucial, Bujnicki said. He noted that while Kimco's operating fundamentals are at their best, it is essential to help investors understand why earnings growth may not always reflect that reality. Informing investors about the longer timelines involved in real estate transactions can help manage these expectations more effectively, he noted. Chapters:  00:00 Flexible Disclosures 00:28 Welcome to REIT Report 00:53 IR Changes Decade 01:25 From NAV to Earnings 03:32 Educating Investors Today 05:25 Capital Allocation Levers 06:39 Staying Long Term 08:06 Pivoting in Crises 08:44 AI in Investor Relations 10:57 Investor Feedback Loop 12:59 Future IR Priorities 14:12 Symposium Takeaways 15:58 Closing Thanks

  8. Jun 18

    Lamar Advertising CFO on Digital Strategy, Local Market Strength, OOH Opportunity

    Jay Johnson, CFO and treasurer at Lamar Advertising Company (Nasdaq: LAMR), joined the REIT Report podcast to discuss the state of out-of-home (OOH) advertising, where Lamar sees new growth potential, the importance of serving local as well as national clients, the growing share of digital advertising, the enduring appeal of traditional billboard formats, and more.  Founded in 1902, Lamar has been publicly traded for nearly 30 years and transitioned to a REIT 12 years ago. The company’s longevity is rooted in the ability to remain relevant to clients as the business has evolved from traditional billboards to digital and programmatic advertising, Johnson noted. Johnson described OOH advertising today as well positioned, with national advertising improving and new categories like pharmaceuticals opening meaningful opportunities. “It’s a great time to be in out-of-home,” he said, noting that even a small share of pharma ad spending could be significant for Lamar.  Chapters:  00:00 Digital vs Static Reality 00:28 Welcome to The REIT Report 00:56 Lamar Longevity and Evolution 02:18 Out of Home Market Tailwinds 03:06 New Verticals Pharma and AI 04:33 Footprint and Economic Signals 05:30 Digital Conversion Strategy 07:11 Local Sales Engine 08:16 Top Local Advertiser Verticals 09:12 SEC Reporting Debate 10:17 Three Competitive Pillars 12:26 Scale Performance and Wrap Up

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4.5
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39 Ratings

About

A show about the latest news and developments in REITs and real estate investment. All episodes feature informative and timely interviews with REIT and publicly traded real estate executives, analysts, industry professionals, and thought leaders. 

Information

  • Creator
    Nareit
  • Years Active
    2013 - 2026
  • Episodes
    423
  • Rating
    Clean
  • Copyright
    © 2026 Nareit's REIT Report Podcast
  • Show Website
    Nareit's REIT Report Podcast

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