Our Insights
Research-driven, investor-focused. Explore our latest reports on REITs, strategy, and market dynamics.
What the AI arms race means for data centers
June 2025
The AI boom is no longer speculative—it’s a structural, capital-intensive transformation. And that shift demands space, energy, and infrastructure. Fast. The winners will be those who can deliver it with scale, speed, and resilience.
REITWeek 2025: no fireworks, but sparks
June 2025
Sugi attended NAREIT’s REITWeek 2025 from June 2–5. It wasn’t flashy, but a quiet consensus stood out: limited new supply could drive stronger sector performance. CEOs struck a measured tone, focused on discipline, fundamentals, and the long game.
Who won 1Q25 REIT earnings season?
May 2025
The first quarter of 2025 marked a strong start for REITs, demonstrating the sector’s resilience amid ongoing economic uncertainties. Supported by stable demand, favorable capital markets, and solid balance sheets, REITs proved their ability to adapt to shifting conditions.
First quarter 2025 REIT market update
April 2025
Amid tariff fears and political uncertainty, REITs outperformed in 1Q25 as investors shifted to defensive sectors like healthcare, towers, and grocery retail. With SmartStop’s $874M IPO signaling active markets, we’re focused on durable demand, strong balance sheets, and public/private dislocation—despite near-term tariff headwinds.
Who won 4Q24 REIT earnings season?
March 2025
The fourth quarter of 2024 concluded a dynamic year for REITs, exemplifying the sector’s resilience in navigating a volatile macroeconomic landscape. Strengthened by favorable capital markets, low supply, steady demand, and evolving economic conditions, REITs showcased the importance of strong balance sheets and high-quality portfolios.
Fourth quarter 2024 REIT market update
January 2025
Ski instructors teach “pizza” (slow) and “French fries” (fast). For REITs, Q3 2024 was French fries—up ~16%; Q4 turned to pizza—down ~8%. Data centers and retail held up, but most sectors lagged. Despite policy noise, falling oil, tax relief, and easing offer optimism. We’re prioritizing resilience: low capex, essential demand, and less cyclicality.