The broader REIT sector appears overbought; it is time to start rotating from large cap REITs into select small/mid cap REITs that have lagged the rally
Tim Hannon
Newgate Capital Partners
The broader REIT sector appears overbought; it is time to start rotating from large cap REITs into select small/mid cap REITs that have lagged the rally. The REIT sector is up a staggering 21.5% since the beginning of the year, while some small mid cap REITs have not moved. Case in point is small cap REIT Industria (IDR). IDR is a plain vanilla REIT that owns 18 industrial assets across Australia. IDR is still trading at is recent issue price of $2.00 and is yielding a healthy 8.4%, a massive premium to the sector yield of 5.2%. Disclosure: Freehold Funds own IDR.
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Tim has 22 years’ experience in the investment and securities markets. Tim was a partner of Goldman Sachs JBWere and during his 15-year tenure at the firm had senior experience across all areas of equities investing. Tim was Head of Australian Equities, Head of Real Estate and Co-Manager of Global Real Estate Securities portfolios with Goldman Sachs LLP. Tim was also founder and co-manager of the Goldman Sachs JBWere Australian Infrastructure Securities Fund, and co-manager of the award winning Goldman Sachs JBWere Emerging Leaders Fund. Over his career, Tim has been nominated or won eight distinguished industry awards, including “Fund Manager of the Year”.
Tim holds a Bachelor of Economics and a Graduate Diploma from the Securities Institute of Australia. Tim is also a Fellow of the Financial Institute of Australia and holds a Masters of Business Administration from Melbourne Business School.
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Tim Hannon
Principal
Newgate Capital Partners
Tim has 22 years’ experience in the investment and securities markets. Tim was a partner of Goldman Sachs JBWere and during his 15-year tenure at the firm had senior experience across all areas of equities investing. Tim was Head of Australian...
Expertise
No areas of expertise
Tim Hannon
Principal
Newgate Capital Partners
Tim has 22 years’ experience in the investment and securities markets. Tim was a partner of Goldman Sachs JBWere and during his 15-year tenure at the firm had senior experience across all areas of equities investing. Tim was Head of Australian...
Expertise
No areas of expertise
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