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After an uninspiring year for real estate investment trust stocks in 2020, analysts took divergent views on the outlook for the sector in the coming year.
Analysts at Mizuho Securities USA, Janney Montgomery Scott and Jefferies all noted in forecasts that generalist and retail investors turned cool on REITs in 2020, seeing more attractive growth in other industries. The teams differed in their views of 2021, though, based in part on their expectations for interest rate movement.
The Janney team predicted “modestly positive” total returns of roughly 8% in 2021, with “outsize” returns in 2022.
“While the group should benefit from a US 10-Year Treasury rate still hovering around 1.0%,” they added, “the recent rate bias has been upward, and that has rarely been…