Canaccord analyst Ryan Meliker recently had a chance to sit down and talk with REIT management teams at the annual NAREIT Convention. Here’s a look at what he learned at the conference and which REITs are Canaccord’s top picks.
Lodging
According to Meliker’s report, market sentiment toward lodging REITs is “the lowest we’ve seen in years.” Investors remain concerned about slowing RevPAR growth and disappointing M&A valuations.
Meliker believes the Marriott International Inc MAR 1.96%/Starwood Hotels & Resorts Worldwide Inc HOT 0.75% deal was a positive for the space, and Canaccord predicts that RevPAR growth will pick up in 2016.
Top picks include:
- Ashford Hospitality Prime Inc AHP 0.57%
- Ashford Hospitality Trust, Inc. AHT 0.23%
- DiamondRock Hospitality Company DRH 0.37%
- Hersha Hospitality Trust HT 0.09%
- Summit Hotel Properties Inc INN 0.31%
- RLJ Lodging Trust RLJ 0.79%
Multifamily
Meliker acknowledged…
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