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Investors trying to get a read of where the Canadian real estate investment trust market is going should look to the United States, says Blackmont Capital analyst Gail Mifsud.bowff.pk, bam, bpo, cwyuf.pk, cwsrf.pk
“How do Canadian REIT stocks perform in a slowing or recessionary economy?” says the analyst in a note. “Unfortunately, the Canadian REIT market is relatively new, with only a few selected REITs dating back to the early 1990s."
Instead, she looked at U.S. REIT performance dating back to the early 1970s. What she found is U.S. equity REITs have for the most part outperformed the broader market index since the early 1970s with only exception from 1997 to 1999 during the dot.com bubble period.
“If we look at the direction of the indices over the past year, we see REITs are headed higher while the broader market is weakening,” says Ms. Mifsud, who expects the trend to continue.
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