TopPicks from Andrew Moffs, senior vice president and portfolio manager, Vision Capital
Andrew Moffs, senior vice president and portfolio manager at Vision Capital, discusses his top picks: First Capital REIT, Sun Communities, and American Homes 4 Rent.First Capital REIT owns interests in over 22 million square feet of retail real estate located in Canada’s major urban centres. More than 85 per cent of the portfolio is leased to tenants providing essential goods and services and the portfolio has over 24 million square feet of future development potential.
The supply and demand backdrop for grocery-anchored shopping centers is increasingly favourable in the current economic environment with minimal new supply and a high degree of recession resistance. Over 85 per cent of First Capital’s tenants are necessity-based retailers which offer essential goods and services. In a recessionary environment these tenants, and as a result First Capital’s properties, will outperform peers more exposed to discretionary retailers.
With uncertainty in the economic environment over the year, Sun is well-positioned to capture continued rental growth. To this point, the REIT is currently in the process of distributing 2023 rental rate increases to its tenants. This is expected, on average, to range from 6.3 per cent year-over-year for its MHC business to as high as 7.8 per cent year-over-year for its annual RV segment, at the midpoint of its guidance.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prince Andrew and Virginia Giuffre photo not fake, photographer saysClaims a photo of Prince Andrew with his arm around Virginia Giuffre is a \u0022fake\u0022 have been branded \u0022ridiculous\u0022 by a photographer.
Read more »
Prince Andrew and Virginia Giuffre photo not fake, photographer saysClaims a photo of Prince Andrew with his arm around Virginia Giuffre is a \u0022fake\u0022 have been branded \u0022ridiculous\u0022 by a photographer.
Read more »
Prince Andrew and Virginia Giuffre photo not fake, photographer saysClaims a photo of Prince Andrew with his arm around Virginia Giuffre is a \u0022fake\u0022 have been branded \u0022ridiculous\u0022 by a photographer.
Read more »
Ontario's top cops decry black man's 'horrific' death at the hands of Memphis policeChiefs of Police in Ontario are condemning the killing of a black man in Memphis allegedly by five police officers after a traffic stop.
Read more »
Ontario's top cops decry black man's 'horrific' death at the hands of Memphis policeChiefs of Police in Ontario are condemning the killing of a black man in Memphis allegedly by five police officers after a traffic stop.
Read more »
Aptos outperforms top 30 cryptos in 7D change; reason is quite surprisingAptos recently concluded its NYC event in partnership with KYD Labs. The on-chain metrics supported the massive price hike but the indicators were bearish. Aptos [APT] surprised the crypto industry over the last few days by registering massive price gains. According to CoinMarketCap, APT’s price increased by nearly 40% in the last seven days, and […]
Read more »