🏠 @cohenandsteers Cohen & Steers Gives 3 Reasons to Own Listed #REITs Today 📊

1.  The 2nd Half of the 2020s Will Likely Mirror Previous Decades
* Strong, healthy fundamentals will drive long-term returns.
* The outlook for U.S. listed real estate aligns with past decades of positive performance.
* Data: U.S. listed real estate annual returns (1991–2024).

2.  U.S. REITs Are Trading at Historic Discounts vs. Equities
* REITs are currently undervalued compared to the broader equity market.
* Attractive pricing and access to the unsecured bond market could open growth opportunities for real estate companies.
* Data: U.S. real estate vs. U.S. equities earnings multiple spreads (2004–2024).

3.  REITs Have Historically Outperformed Equities After Significant Discounts
* REITs usually trade at a slight earnings multiple premium to U.S. stocks due to their recurring rent-based cash flows.
* With REITs at a -6.4x discount, any shift toward the historical median could enhance returns.
* Data: Historical performance of REITs vs. equities after steep multiple discounts.

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