CITI - Weekly REIT and Lodging Strategy
Weekly REIT and Lodging Strategy — Mike Bilerman argued ”it’s not what you say, it’s what you do” in our second quarter earnings preview last week. But that doesn’t mean one should ignore what management teams are saying. Notable Quotables — After listening to almost 150 conference calls and re-reading over 2,000 pages of transcripts, we have aggregated over 250 notable quotes that capture the current state of the real estate market, property sector themes and individual company positioning. In this weekly, we include quotes organized by theme including the transaction markets and cap rates, globalmacro economy, capital markets, operating fundamentals organized by sector, new development and some good ol’ quick witted humor.