~ With the Federal Reserve at, or near, the end of its tightening cycle, REITs are well-situated for outsized performance in 2024.
~ The gap between REIT implied and private appraisal-based cap rates will likely close or converge in 2024.
~ While public real estate valuations have adjusted, private real estate valuations probably will see further declines in 2024.
~ REITs’ well-managed balance sheets likely will enable them to navigate economic uncertainty in 2024.
~ As property transactions return, REITs’ solid balance sheets could give them meaningful advantages in acquisitions and growth over private real estate.