2024 Listed REITs Outlook | Seeking Alpha

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Investing in Real Estate Investment Trust or REIT. Visionary business man investing in stocks.

Wachiwit

By Kelly Rush, CFA, Chief Executive Officer, Public Real Assets & Chief Investment Officer, Real Estate Securities | Todd Kellenberger, CFA, Client Portfolio Manager, Real Estate Securities

Overview

REITs – Nearing an inflection point

After lagging equities for the

2024E earnings growth

2025E earnings growth

Structural tailwind outlook

Industrial

0.9%

12.3%

E-commerce sales growth which generally requires 3x the warehouse footprint versus brick & mortar sales.

Towers

2.0%

4.0%

Exponential long-term growth expected in mobile data usage and bandwidth demands.

Data centers

5.9%

7.4%

Rapid growth in technology infrastructure to support Artificial Intelligence, cloud storage demand, network densification, e-commerce, etc.

Healthcare

6.8%

7.8%

Long-term needs-based demand with an aging U.S. population (especially +80yr-old cohort). Muted supply trends.

Single-family rental

6.4%

4.8%

Large and widening home affordability gap between owning and renting. Aging millennial demographic supports demand for single-family rental.

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