Citi Research analysts have rated the real estate sector as market weight, despite the sector’s valuation indicators being compelling, highlighting challenges in the fundamental set-up for 2024.
The first quarter of this year has seen underperformance in stocks, with the sector’s performance uncertain due to the interest rate environment and the potential mid-year Fed rate cut.
Top Picks Buy
Apartment Income REIT Corp. (AIRC) – ETR: 37%
VICI Properties Inc. (VICI) – ETR: 37%
Gaming and Leisure Properties Inc. (GLPI) – ETR: 35%
SBA Communications Corp. (SBAC) – ETR: 35%
Crown Castle Inc. (CCI) – ETR: 31%
Equinix Inc. (EQIX) – ETR: 27%
American Tower Corp. (AMT) – ETR: 25%
Sell
SL Green Realty Corp. (SLG) – ETR: -37%
Vornado Realty Trust (VNO) – ETR: -19%
Brandywine Realty Trust (BDN) – ETR: -17%