The single-family rental (SFR) sub-sector of the rental housing market is the latest in a long series of property types which have transitioned from local/mom and pop ownership to institutional management and ownership.
The trajectory of rent growth continues to moderate across the U.S. with coastal market performance outpacing sunbelt markets.
In early January of this year, Blackstone Inc. (BX) announced with great fanfare that it was entering into a venture with a large institutional investor, the Regents of the University of California (UC Investments)
Coastal apartment REIT leadership is feeling “cautiously confident†as the summer leasing season progresses, and we transition into the second half of 2023.
With the recent launch of Private Real Estate Strategy via Liquid REITs ETF (PRVT), investors will be exposed to a sizeable allocation to industrial real estate which has been a cornerstone investment for several non-traded REITs.
Investors have seen the landscape of the Las Vegas strip change dramatically over the past decade.
The sizeable valuation gap which currently exists between public and private real estate is perhaps the largest in history, potentially making the current environment one of the best for investors to increase or initiate exposure to publicly traded real estate.
Recently, Armada ETF Advisors attended the NYU Schack REIT Symposium where multiple REIT CEOs and industry participants spoke on a variety of panels and topics.
With the first quarter 2023 earnings season now in full bloom, most apartment companies have reported results that were in-line, or modestly better than company guidance and investor expectation.
The single-family rental (SFR) sub-sector of the rental housing market is the latest in a long series of property types which have transitioned from local/mom and pop ownership to
The trajectory of rent growth continues to moderate across the U.S. with coastal market performance outpacing sunbelt markets.
In early January of this year, Blackstone Inc. (BX) announced with great fanfare that it was entering into a venture with a large institutional investor, the Regents of the Univers
Coastal apartment REIT leadership is feeling “cautiously confident†as the summer leasing season progresses, and we transition into the second half of 2023.
With the recent launch of Private Real Estate Strategy via Liquid REITs ETF (PRVT), investors will be exposed to a sizeable allocation to industrial real estate which has been a co
Investors have seen the landscape of the Las Vegas strip change dramatically over the past decade.
The sizeable valuation gap which currently exists between public and private real estate is perhaps the largest in history, potentially making the current environment one of the be
Recently, Armada ETF Advisors attended the NYU Schack REIT Symposium where multiple REIT CEOs and industry participants spoke on a variety of panels and topics.
With the first quarter 2023 earnings season now in full bloom, most apartment companies have reported results that were in-line, or modestly better than company guidance and invest
The marketing of non-traded REITs has focused on a handful of talking points which warrant more discussion than is necessarily provided in the materials furnished by the sponsors.
To state the obvious, it has been an extremely challenging twelve-month period for the residential REIT sector of the market. Are things looking up?
We shed some light on the balance sheet characteristics of the Top 10 holdings (constituting roughly 70% of the total portfolio) within HAUS.
The manufactured housing sector has an impressive history of managing well through difficult economic and financial periods by providing a truly affordable housing proposition to a
The major apartment operators have reported fourth quarter 2022 earnings and provided conservative, yet better than feared forward guidance for the coming year.
REIT stands for Real Estate Investment Trust, so you might be forgiven for assuming that something called a REIT would provide you with exposure to Real Estate.
The major coastal apartment operators have reported fourth quarter2022 earnings and provided conservative, yet better than feared forward guidance for the coming year.
Sunbelt apartment companies Mid-America (MAA) and Camden Property Trust (CPT) each reported fourth quarter 2022 earnings late last week, providing the first glimpse into what lies
When looking at the investor presentations from some of the largest Apartment REITs, we can analyze where their portfolios are growing and which markets are capturing the most grow
A key difference between publicly traded and non-traded REITs is transparency.
Following NAREIT’s REITWorld Conference, Armada ETF Advisors checked in with several Wall Street REIT analysts to get their thoughts on Residential REITs heading into 2023.
Higher operating expenses impacted the SFR industry in similar ways as the line item affected the broader rental housing sub-sectors.
We had the pleasure joining AIR Communities Inc. (Ticker: AIRC) on a November 17th, 2022 property tour in Redwood City (San Francisco), CA.
2022 by most accounts was a “historic†year for the rental housing industry in which the stars aligned and owner/operators benefited immensely from a plethora of tailwi
Two large manufactured housing REITs, Equity Lifestyle Properties (ELS) and Sun Communities (SUI) have reported 3Q 2022 earnings over the past week.
Shedding some light on the balance sheet characteristics of the Top 10 holdings (constituting roughly 70% of the total portfolio) within HAUS.
We believe that the rental housing segment of the REIT market will live up to its reputation for providing investors with safe and predictable cash flow and dividend growth for the
This discussion provides a reasonable degree of solace that there will not be a lasting financial impact on our constituent companies from Hurricane Ian.
We believe residential REITs are poised to continue demonstrating consistent and predictable growth in operating cash flow & dividends for 2023 and beyond.
The long-awaited slowdown in the housing market may finally be upon us, but maybe not. We might just be witnessing a reset in expectations.
We believe the alpha potential over the long term may make up for the spread of the lower-volume ETFs.
It is our view that a reset in the for-sale housing market will lead to “stronger for longer†fundamentals in single family rentals.
With 2Q earnings season now more than 50% complete for the residential REIT sub-sectors, we have been pleasantly surprised with reports thus far
Large-Cap coastal apartment REITs continue to grow amidst economic concerns by utilizing key revenue drivers
Reduced forecasts driven by moderated growth expectations from transient RV segment of the business, representing approximately 7% of total revenue
The recent market correction coupled with a stable fundamental backdrop for the residential sectors puts the group in an attractive light.
Tax loss harvesting could be used to tactically enhance REIT allocation in a dislocated market environment while also positioning for future tax benefits
REITs have historically served as a strong inflation hedge and have direct exposure to primary drivers of the U.S. economy
Prevalent takeaways from the National Association of Real Estate Investment Trusts REIT Week Investor Conference in New York City last week.
A great interview of Al Otero by David Auerbach talking all things REIT! Recorded April 2022 at Exchange ETF in Miami, FL
Biden Administration puts forth a series of strategic measures aimed at increasing the supply of housing units across the country.
SF-BTR provides a flexible alternative to traditional apartment living that allows for larger households, more privacy and hybrid work.
Small cap names in the residential world produced exceedingly strong results in Q1, putting forth outlooks for coming quarters that are highly constructive.
Housing shortage is gripping the nation, adding to inflationary pressures and extracting real cost to economic output, estimated at $400 billion per annum.
While a Federal Reserve Bank raises caution amidst the seemingly potential real estate bubble, housing expert Edward Pinot argues to embrace the atmosphere
REIT returns outperformed the S&P 500 under moderate/high inflation scenarios, while slightly underperforming general equities during low inflation periods
A real-time case study in active portfolio management. Portfolio Managers move forward with attractive opportunity, despite whistleblower lawsuit.
The much-discussed housing shortage playing out across the US is also a key reason for historically low levels of resident turnover within SFR portfolios.
Housing imbalances at UC Berkeley show how good intentioned policies and legislative action can lead to unintended consequences that can take years to fix
Despite Covid's negative affect on occupancy levels, rents, and margins in senior housing, Welltower and Ventas remain dedicated to the sector. Here's why.
Taking a look at the US apartment REIT sector to see how it fared at the close of 2021 and what we can glean going into 2022.
Investments involve risk. Principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Brokerage commissions may apply and would reduce returns. The fund is new and has limited operating history to judge.
Fund Risks: The funds are classified as non-diversified investment companies. The Funds may invest a greater portion of their assets in the securities of a single issuer or a smaller number of issuers than if they were diversified funds. To the extent the Funds invest in other funds, a shareholder will bear two layers of asset-based expenses, which could reduce returns when compared to a direct investment the underlying funds.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (800) 693-8288.
To view the ETF’s holdings and standardized performance, click here.
References to other securities is not an offer to buy or sell.
Dividends are not guaranteed, and the dividend yield may fluctuate.
Through its investments in REITs, the Fund is subject to the risks of investing in the real estate market, including decreases in property revenues, increases in interest rates, increases in property taxes and operating expenses, legal and regulatory changes, a lack of credit or capital, defaults by borrowers or tenants, environmental problems, and natural disasters. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses.
The Fund invests in residential mortgage backed securities (RMBS), which are subject to the risks generally associated with fixed-income securities and mortgage-backed securities. Delinquencies and defaults by borrowers in payments on the underlying mortgages, and the related losses, are affected by general economic conditions, the borrower’s equity in the mortgaged property, and the borrower’s financial circumstances.
The Fund may invest in debt securities which are subject to the risks of an issuer’s inability to meet its obligations under the security; failure of an issuer or borrower to pay principal and interest when due; and interest rate changes affect the prices of fixed income securities. In addition, an increase in prevailing interest rates typically causes the value of existing fixed income securities to fall and often has a greater impact on longer duration and/or higher quality fixed income securities.
Unlike typical exchange-traded funds, there are no indexes that the Funds attempt to track or replicate. Thus, the ability of the Funds to achieve its objectives will depend on the effectiveness of the portfolio manager. In general, ETFs can be tax efficient. ETFs are subject to capital gains tax and taxation of dividend income. However, ETFs are structured in such a manner that taxes are generally minimized for the holder of the ETF. An ETF manager accommodates investment inflows and outflows by creating or redeeming “creation units,” which are baskets of assets. As a result, the investor usually is not exposed to capital gains on any individual security in the underlying portfolio. However, capital gains tax may be incurred by the investor after the ETF is sold.
Investment Objective: Residential REIT ETF (HAUS) seeks total return.
Investment Objective: Private Real Estate Strategy via Liquid REITs ETF (PRVT) seeks total return.
Glossary Terms
Basis Point (BPS): A basis point is a common unit of measure for interest rates and other percentages in finance. Basis points are typically expressed with the abbreviations bp, bps, or bips. One basis point is equal to 1/100th of 1%, or 0.01%.
Beta: Beta is a measure of a stock’s volatility in relation to the overall market.
Book Value: Book value is equal to the cost of carrying an asset on a company’s balance sheet, and firms calculate it netting the asset against its accumulated depreciation.
Cap Rates: The capitalization rate (also known as cap rate) is used in commercial real estate to indicate the expected rate of return on an investment property.
Dow Jones: A stock market index that tracks 30 large, publicly-owned blue-chip companies trading on the New York Stock Exchange (NYSE) and Nasdaq.
Dow Jones US Real Estate Index: This index is designed to track the performance of real estate investment trusts (REITs) and other companies that invest directly or indirectly in real estate through development, management, or ownership, including property agencies.
Earnings Per Share (EPS): Earnings per share (EPS) is calculated as a company’s profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company’s profitability.
EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization.
Funds From Operation (FFO): The most commonly accepted and reported measure of REIT operating performance. Equal to a REIT’s net income, excluding gains or losses from sales of property and adding back real estate depreciation.
Gated: The practice of temporarily blocking withdrawals from an investment fund
Loan-to-Value: The loan-to-value (LTV) ratio is an assessment of lending risk that financial institutions and other lenders examine before approving a mortgage.
Margin Call: A broker’s demand that an investor deposit more cash or securities into a margin account to cover potential losses.
NARIET: National Association of Real Estate Investment Trusts
Nasdaq 100: The 100 largest, most actively traded U.S companies listed on the Nasdaq stock exchange. Includes sectors such as health care, retail, industrial, technology, biotechnology and others. Does not include financial sectors.
Net Asset Value (NAV): The “market value” of all a company’s assets, including but not limited to its properties, after subtracting the “market value” of all its liabilities and obligations.
NOI: Net operating income (NOI) is a calculation used to measure the profitability of income-generating real estate investments. NOI equals all revenue from the property, minus all reasonably necessary operating expenses.
Real Estate Select Sector SPDR ETF Index: The Real Estate Index contains companies from Real Estate Management & Development and REITs, excluding Mortgage REITs. Components include American Tower, Crown Castle, ProLogis and Equinix.
REIT: A REIT (Real Estate Investment Trust) is a company that owns, operates or finances income-producing real estate.
S&P 500: A market-capitalization-weighted index of 500 leading publicly traded companies in the U.S.
S&P Mid Cap 400: The S&P Mid Cap 400 is a benchmark index comprised of 400 companies that broadly represent companies with midrange market capitalization between $3.6 billion and $13.1 billion.
SEC 30-Day Yield: The yield is calculated with a standardized formula and represents net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund’s share price.
Smart beta: The goal of smart beta is to obtain alpha, lower risk, or increase diversification at a cost lower than traditional active management and marginally higher than straight index investing.
Distributed by Foreside Fund Services, LLC.
Launch & Structure Partner: Tidal ETF Services.
Foreside, Tidal, and Armada are not affiliated.
