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Billionaire real estate entrepreneur Jeff Greene once said, "You make 10% of your money because you're a genius and 90% because you catch a great wave." Thanks to a recent wave, shareholders in many real estate investment trusts (REITs) are starting to look like Rhodes scholars.
Year to date, broad-based REIT ETFs are up an average of 17%. Just last week, in fact, four seasoned funds hit new highs. The question before investors now is this: Is there more room on the upside for these portfolios?
Gaining 18.1%, the iShares Cohen & Steers REIT ETF