INN - Battle Of The Limited-Service-Lodging REITs
Beginning in 2019 we decided to pullback from the Lodging REIT sector by issuing an “underweight” recommendation. This doesn’t mean that we were avoiding the hotel landlords altogether, we simply opted to shirt our attention to the higher growth sectors like cell towers, data centers, and industrial.
That proved to be a good bet, as these three categories have out-performed year-to-date, as expressed by their P/FFO valuation (as viewed below):
By carefully selecting the highest-quality growth REITs, our core portfolio (known as the Durable Income Portfolio) has performed well year-to-date (as viewed below). Our strategy