Nareit's REIT Report Podcast Mid-Year Update: REITs Weather Volatility, Positioned for Growth
Jul 10, 2025
Ed Pierzak, Nareit's Senior Vice President for Research, shares deep insights into the roller coaster ride of the REIT market in 2025. He discusses how REITs have shown resilience amidst economic turbulence and evolving trade policies. The conversation highlights the strength of REIT balance sheets in facing market fluctuations and offers a cautiously optimistic outlook despite interest rate challenges. Pierzak emphasizes the pivotal position of REITs for future growth, even as new tariff actions loom on the horizon.
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High Expectations for 2025 REITs
- Entering 2025, REITs had high expectations fueled by a strong economy and valuation convergence.
- They were poised for growth with healthy balance sheets and good access to capital.
Mid-Year Market Turbulence
- The REIT market experienced turbulence mid-year due to trade policy shifts and economic uncertainty.
- Despite volatility, the situation at mid-year is roughly where it started the year.
Tariffs Trigger Market Rollercoaster
- Tariff policy changes triggered volatility and declines across all 13 REIT property sectors.
- Despite initial drops, the year-to-date REIT returns remain positive and less severe than feared.