TheStreet: Public Storage Is One Discounted REIT That You Should Add to Your Portfolio
According to TheStreet:
After having outpaced broader market indices for the better part of 2016, real estate investment trusts have cooled off.
The REIT sector is nearly 14% below its 52-week high in August. Yet the pullback offers a great time to buy. "REITs are on the cheap side -- not pound-the-table inexpensive but on the attractive side of fair value," says Mike Kirby, research director at Green Street Advisors, a real estate research firm in Newport Beach, Calif.
Given the decline in share prices of many REITs, investors can find juicy dividend yields.
Kirby said that the industry's adjusted funds from operations (AFFO) will rise by as much as 6.3% by the end of this year, and an additional 7% in both 2017 and 2018.
To read the full article from TheStreet, click here.