- We're still seeing great bargains throughout the apartment REIT subsector.
- The sector has significant discounts to NAV, which are more enough to compensate for the headwinds facing apartments in the near term.
- The market-implied cap rates show investors are not giving apartment REITs enough credit. In some cases, the gap between current market-implied cap rates and prior levels is huge.
- These market-implied cap rates are already taking into account the decline in NOI for Q2 2020.
- We recently added to our position in EQR and maintain a bullish rating on EQR.
For further details see:
Loaded Up On Apartments