Industry Report Card: North American REITs Hold Steady Amid Economic Uncertainty Nov 11

  • ID: 2027679
  • November 2011
  • Region: North America, United States
  • Standard & Poors
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  • Archstone-Smith Trust
  • Capital Automotive LLC
  • EPR Properties
  • Kilroy Realty Corp.
  • PS Business Parks Inc.
  • Summit Properties Inc.
  • MORE

Standard & Poor's Ratings Services' outlook for rated North American REITs and real estate operating companies (collectively, REITs) is stable. Our recent review of second-quarter operating performance for the 68 REITs that we rate produced a handful of modestly positive rating actions that reflected generally stabilizing operating conditions for these companies during the first half of the year. We expect to see REITs continue to benefit from the recovery that is underway as they begin to report their third-quarter results. Some economic uncertainty remains, however, and a reversal of current trends could cause a sharper downturn. If this were to occur, we think the still-weak office and industrial sectors would be the most negatively affected. However, most rated REITs have...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Public Storage
- Federal Realty Investment Trust
- HCP Inc.
- BRE Properties Inc.
- Weingarten Realty Investors
- American Health Properties Inc.
- UDR Inc.
- Plaza Las Americas Inc.
- Nationwide Health Properties Inc.
- Equity Commonwealth
- Omega Healthcare Investors Inc.
- Welltower Inc.
- Shopping Center Associates L.P.
- Taubman Realty Group L.P.
- Kimco Realty Corp.
- Regency Centers Corp.
- Tanger Factory Outlet Centers Inc.
- Vornado Realty Trust
- Shurgard Storage Centers Inc.
- AvalonBay Communities Inc.
- Equity Residential
- DDR Corp.
- Duke Realty Corp.
- Colonial Realty L.P.
- ERP Operating L.P.
- Lion Gables Residential Trust
- Associated Estates Realty Corp.
- Prologis
- Equity One Inc.
- Post Apartment Homes L.P.
- Duke Realty L.P.
- Camden Property Trust
- Summit Properties Inc.
- Brixmor LLC
- Tanger Properties L.P.
- Washington Real Estate Investment Trust
- TriNet Corporate Realty Trust Inc.
- Colonial Properties Trust
- SUSA Partnership L.P.
- Storage USA, Inc.
- Simon Property Group Inc.
- Simon Property Group L.P.
- Post Properties Inc.
- Highwoods Properties Inc.
- Realty Income Corp.
- Apartment Investment and Management Co.
- First Industrial Realty Trust Inc.
- First Industrial L.P.
- CarrAmerica Realty Corp.
- Liberty Property Trust
- Taubman Centers, Inc.
- Glimcher Realty Trust
- Hospitality Properties Trust
- Forest City Enterprises Inc.
- National Retail Properties Inc.
- Prologis Inc.
- Essex Property Trust Inc.
- Essex Portfolio L.P.
- General Growth Properties, Inc.
- Sovran Self Storage Inc.
- Crescent Real Estate Equities , L.P.
- Crescent Real Estate Equities Co.
- Reckson Operating Partnership L.P.
- Mack-Cali Realty Corp.
- PS Business Parks Inc.
- Vornado Realty L.P.
- Arden Realty Inc.
- Prime Property Fund LLC
- Healthcare Realty Trust
- RioCan Real Estate Investment Trust
- Senior Housing Properties Trust
- Ventas Inc.
- Morguard Real Estate Investment Trust
- Brookfield Office Properties Inc.
- Ventas Realty L.P.
- Ventas Capital Corp.
- Capital Automotive LLC
- Capital Automotive L.P.
- Boston Properties Inc.
- Brandywine Realty Trust Inc.
- Brandywine Operating Partnership L.P.
- Heritage Property Investment L.P.
- CarrAmerica Realty Operating Partnership LP
- Spirit Realty Capital Inc.
- SL Green Realty Corp.
- SL Green Operating Partnership L.P.
- Piedmont Office Realty Trust Inc.
- TPG-Austin Portfolio Holdings LLC
- Medical Properties Trust Inc.
- MPT Operating Partnership L.P.
- Digital Realty Trust L.P.
- Digital Realty Trust Inc.
- DuPont Fabros Technology Inc.
- DuPont Fabros Technology L.P.
- Columbia Property Trust, Inc.
- BioMed Realty Trust Inc.
- BioMed Realty L.P.
- Kilroy Realty L.P.
- EPR Properties
- Government Properties Income Trust
- American Realty Capital Trust Inc.
- Sabra Capital Corp.
- Sabra Health Care REIT Inc.
- Sabra Health Care L.P.
- Aviv REIT Inc.
- Aviv Healthcare Properties LP
- Aviv Healthcare Capital Corp.
- CNL Lifestyle Properties Inc.
- CNL Income Partners LP
- Healthcare Trust of America Inc
- Alexandria Real Estate Equities, Inc.
- Archstone-Smith Trust
- Chelsea Property Group Inc.
- CPG Partners L.P.
- National Health Investors, Inc.
- Security Capital Atlantic Inc.
- Irvine Apartment Communities, LP
- Bradley Operating L.P.
- Heritage Property Investment Trust Inc.
- CenterPoint Properties Trust
- Price Development Company L.P.
- EOP Operating L.P.
- Equity Office Properties Trust
- Reckson Associates Realty Corp.
- Pan Pacific Retail Properties Inc.
- PS Business Parks L.P.
- Arden Realty L.P.
- Ontrea Inc.
- Tishman Speyer Real Estate D.C. Area Portfolio (Borrower), L.P.
- Wells Operating Partnership II L.P.
- Kilroy Realty Corp.
- Americold Warehouse Investment Portfolio LLC

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