Weekly Overview

Sep 16, 2015

MidLincoln Research

Real Estate Weekly

Emerging Markets Sector Reports

MidLincoln Real Estate Global Index

basketnameweekchmonthchytdchyearch
ML Global Real Estate2.42-9.38-10.70

Select Equity Indexes Yields

nameweekchmonthchytdchyearch
Russian Trading System Cash Index4.15-3.182.70-32.62
S&P 500 Index1.66-6.62-5.141.00
Hong Kong Hang Seng Index4.41-9.54-8.92-12.71
Ibovespa Brasil Sao Paulo Stock Exchange Index1.69-0.48-5.45-16.23
S&P BSE SENSEX Index3.63-7.03-5.99-0.25
Deutsche Boerse AG German Stock Index DAX0.23-7.77

Select Bond Yields (Eurobonds)

NcountryAvg Sovereign YieldAvg Corporate Yield
Venezuela32.5336.09
Ecuador15.86
Ukraine13.79
Zambia11.30
Iraq10.91
Ghana10.47
Angola9.54
Gabon9.04
Mongolia8.85
El Salvador8.27
Argentina7.979.05
C?te dIvoire7.82
Kenya7.67
Costa Rica7.08
Pakistan6.90
Jamaica6.5410.30
Kazakhstan6.446.77
Brazil6.348.77
Russia6.226.84
Paraguay6.17
Lebanon6.16
Dominican Republic6.10
Azerbaijan5.96
Sri Lanka5.945.79
South Africa5.587.06
Egypt5.55
Vietnam5.41
Indonesia5.346.14
Turkey5.255.11
Uruguay4.97
Colombia4.889.64
Peru4.824.36
Malaysia4.823.41
Croatia4.78
Mexico4.535.69
Serbia4.44
Morocco4.195.43
Romania4.13
Panama3.94
Hungary3.71
Chile3.654.41
China3.564.98
Philippines3.323.47
Lithuania2.93
Poland2.90
Latvia2.61
Slovak Republic2.59
Thailand3.96
Singapore3.80
Qatar2.91
Korea2.49
Israel4.81
India4.47
Hong Kong3.64
United Arab Emirates3.07



Top 10 Winners In MidLincoln Global Real Estate Index Between 2015-09-15 and 2015-09-08
NameWeekchCountry
UEM Sunrise Bhd (UEMS:MK)27.84Malaysia
Ruentex Development Co Ltd (9945:TT)12.64Taiwan
Daelim Industrial Co Ltd (000210:KS)9.36Korea, Republic of (South)
PIK Group PJSC (PIKK:RM)8.61Russian Federation
BR Malls Participacoes SA (BRML3:BZ)6.93Brazil
SM Prime Holdings Inc (SMPH:PM)5.96Philippines
Growthpoint Properties Ltd (GRT:SJ)5.95South Africa
Sumitomo Realty & Development Co Ltd (8830:JP)5.83Japan
Ayala Land Inc (ALI:PM)5.49Philippines
Mitsui Fudosan Co Ltd (8801:JP)4.66Japan

Top 10 Losers In Global Real Estate Index Between 2015-09-15 and 2015-09-08
NameWeekchCountry
Etalon Group Ltd (ETLN:LI)-7.18Guernsey, Channel Islands
Evergrande Real Estate Group Ltd (3333:HK)-5.40China
Bumi Serpong Damai Tbk PT (BSDE:IJ)-5.07Indonesia
Crown Castle International Corp (CCI:US)-4.86United States
SOHO China Ltd (410:HK)-4.77China
LSR Group PJSC (LSRG:LI)-4.00Russian Federation
China Resources Land Ltd (1109:HK)-2.92Hong Kong (SAR)
Klepierre (LI:FP)-2.14France
Raven Russia Ltd (RUS:LN)-2.13Guernsey, Channel Islands
Land Securities Group PLC (LAND:LN)-2.06United Kingdom

Winners and Losers by Country ML Global Real Estate Index Between 2015-09-15 and 2015-09-08
NameWeekchCountry
Scentre Group (SCG:AU)2.62
Mirvac Group (MGR:AU)-1.08Australia
Goodman Group (GMG:AU)-0.32Australia
Dexus Property Group (DXS:AU)-0.17Australia
Stockland (SGP:AU)1.28Australia
Westfield Corp (WFD:AU)2.88Australia
GPT Group/The (GPT:AU)3.10Australia
IMMOFINANZ AG (IIA:AV)-0.15Austria
BR Properties SA (BRPR3:BZ)2.79Brazil
Multiplan Empreendimentos Imobiliarios SA (MULT3:BZ)4.60Brazil
BR Malls Participacoes SA (BRML3:BZ)6.93Brazil
Evergrande Real Estate Group Ltd (3333:HK)-5.40China
SOHO China Ltd (410:HK)-4.77China
Agile Property Holdings Ltd (3383:HK)-0.78China
Shui On Land Ltd (272:HK)0.01China
Guangzhou R&F Properties Co Ltd (2777:HK)0.56China
Country Garden Holdings Co Ltd (2007:HK)0.75China
Longfor Properties Co Ltd (960:HK)1.29China
Sino-Ocean Land Holdings Ltd (3377:HK)4.27China
Klepierre (LI:FP)-2.14France
Etalon Group Ltd (ETLN:LI)-7.18Guernsey, Channel Islands
Raven Russia Ltd (RUS:LN)-2.13Guernsey, Channel Islands
Greentown China Holdings Ltd (3900:HK)1.42Hangzhou China
China Resources Land Ltd (1109:HK)-2.92Hong Kong (SAR)
Poly Property Group Co Ltd (119:HK)-1.86Hong Kong (SAR)
Link REIT (823:HK)-0.94Hong Kong (SAR)
Shanghai Industrial Holdings Ltd (363:HK)-0.54Hong Kong (SAR)
China Overseas Land & Investment Ltd (688:HK)0.23Hong Kong (SAR)
New World Development Co Ltd (17:HK)0.40Hong Kong (SAR)
China Overseas Grand Oceans Group Ltd (81:HK)0.85Hong Kong (SAR)
Yuexiu Property Co Ltd (123:HK)2.51Hong Kong (SAR)
China Jinmao Holdings Group Ltd (817:HK)2.76Hong Kong (SAR)
Shimao Property Holdings Ltd (813:HK)4.29Hong Kong (SAR)
Unitech Ltd (UT:IN)2.36India
DLF Ltd (DLFU:IN)3.00India
Bumi Serpong Damai Tbk PT (BSDE:IJ)-5.07Indonesia
Mitsubishi Estate Co Ltd (8802:JP)2.48Japan
Japan Retail Fund Investment Corp (8953:JP)3.58Japan
Mitsui Fudosan Co Ltd (8801:JP)4.66Japan
Sumitomo Realty & Development Co Ltd (8830:JP)5.83Japan
Daelim Industrial Co Ltd (000210:KS)9.36Korea, Republic of (South)
UEM Sunrise Bhd (UEMS:MK)27.84Malaysia
Ayala Corp (AC:PM)3.92Philippines
Ayala Land Inc (ALI:PM)5.49Philippines
SM Prime Holdings Inc (SMPH:PM)5.96Philippines
LSR Group PJSC (LSRG:LI)-4.00Russian Federation
PIK Group PJSC (PIKK:RM)8.61Russian Federation
Growthpoint Properties Ltd (GRT:SJ)5.95South Africa
Farglory Land Development Co Ltd (5522:TT)4.27Taiwan
Ruentex Development Co Ltd (9945:TT)12.64Taiwan
Lippo Karawaci Tbk PT (LPKR:IJ)3.06Tangerang, Jawa Barat, 15811 Indonesia
Central Pattana PCL (CPN:TB)2.01Thailand
Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO:TI)-1.18Turkey
Land Securities Group PLC (LAND:LN)-2.06United Kingdom
Segro PLC (SGRO:LN)-1.08United Kingdom
Intu Properties PLC (INTU:LN)-0.98United Kingdom
British Land Co PLC/The (BLND:LN)-0.96United Kingdom
Crown Castle International Corp (CCI:US)-4.86United States
Host Hotels & Resorts Inc (HST:US)-1.76United States
Weyerhaeuser Co (WY:US)-1.01United States
VEREIT Inc (VER:US)-0.99United States
Plum Creek Timber Co Inc (PCL:US)-0.72United States
American Tower Corp (AMT:US)-0.56United States
Digital Realty Trust Inc (DLR:US)-0.51United States
Public Storage (PSA:US)0.02United States
Ventas Inc (VTR:US)0.39United States
Liberty Property Trust (LPT:US)1.05United States
CBRE Group Inc (CBG:US)1.07United States
Prologis Inc (PLD:US)1.26United States
HCP Inc (HCP:US)1.29United States
Iron Mountain Inc (IRM:US)1.51United States
Macerich Co/The (MAC:US)1.61United States
General Growth Properties Inc (GGP:US)1.78United States
Health Care REIT Inc (HCN:US)1.95United States
Regency Centers Corp (REG:US)1.98United States
Simon Property Group Inc (SPG:US)1.99United States
Equity Residential (EQR:US)2.26United States
Essex Property Trust Inc (ESS:US)2.33United States
Boston Properties Inc (BXP:US)2.47United States
AvalonBay Communities Inc (AVB:US)2.62United States
Duke Realty Corp (DRE:US)2.77United States
Kimco Realty Corp (KIM:US)2.78United States
Federal Realty Investment Trust (FRT:US)2.85United States
Realty Income Corp (O:US)3.36United States
SL Green Realty Corp (SLG:US)3.39United States
Vornado Realty Trust (VNO:US)3.68United States
UDR Inc (UDR:US)3.89United States

                         

                                   

Source: Midlincoln Research



Table of Contents:


Real Estate Yields and News

  • Real Estate Funds Fundflow


    Logistic Real Estate Yields

  • Some facts about Moscow Warehouses


    Retail Real Estate Yields

  • Some facts about Moscow Retail


    Office Real Estate Yields

  • Chart of office yeilds


    Residential Real Estate Yields

    MidLincoln Global Real Estate Index Composition and Stats

  • Top 10 Real Estate Picks with highest score
  • Top 10 Real Estate Picks with lowest score





    Real Estate Flows, Yields and News


  • Unusual Way to Earn High Yields in Real Estate
  • A Novel Way to Earn High Yields in Real Estate
  • Norfolk Mansion Heads For Auction After Failing to Sell
  • Could Real Estate Actually Be a Haven For Jittery Stock Investors?
  • Higher yields will bring property investors to Dubai: Deyaar CEO
  • Real estate values rise as prime yields sharpen
  • Top Yield REITs Post 18.20% Higher Return By 5 Highest Yield ...
  • In a correction, real estate prices will not fall in all cities: Saurabh ...
  • 3 REITs With Yields up to 8.9% to Buy Today


    Weekly Fund flow into Real Estate focused funds and REITS showed (Previous Week)-329.3 USD mn of outflow.


    Top 10 Real Estate Focused Funds or REITS by Inflows
    Fund Namefund flow mn$Total Assets mn$
    NUVEEN REAL ESTATE INCOME FUND (JRS)19.7308.9
    PRINCIPAL REAL ESTATE INCOME FUND (PGZ)17.7134.2
    FIRST STATE INVESTMENTS ICVC - GLOBAL PROPERTY SECURITIES - A ACC EUR (FSGPSAE)16.7264.4
    DELTA LLOYD L - GLOBAL PROPERTY FUND - IC (DELGPIC)13.4457.9
    DELTA LLOYD L - GLOBAL PROPERTY FUND - B CAPITALISATION (DELGPBC)13.4457.9
    DFA REAL ESTATE SECURITIES PORTFOLIO - INSTITUTIONAL (DFREX)10.05973.0
    DWS RREEF GLOBAL REAL ESTATE SECURITIES FUND - INSTITUTIONAL (RRGIX)9.51285.0
    LMP REAL ESTATE INCOME FUND INC (RIT)9.3142.4
    DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO - INSTITUTIONAL (DFITX)6.83234.0
    ING L INVEST GLOBAL REAL ESTATE (XUMS)6.3285.5

    Top 10 Real Estate Focused Funds or REITS by Outflow
    Fund Namefund flow mn$Total Assets mn$
    PRUDENTIAL GLOBAL REAL ESTATE FUND - C (PURCX)-119.43391.0
    VIRTUS REAL ESTATE SECURITIES - C (PHRCX)-59.31297.0
    NUVEEN REAL ESTATE SECURITIES FUND - C (FRLCX)-32.84487.0
    ING GLOBAL REAL ESTATE FUND/UNITED STATES - B (IGBAX)-29.24096.0
    BNP PARIBAS INVESTMENT PARTNERS - REAL ESTATE SECURITIES EUROPE - N (PAREEPN)-24.7641.0
    UBS CH INSTITUTIONAL FUND 3 - REAL ESTATE SECURITIES ASIA PACIFIC PASSIVE FUND - I-X (UBS3REX)-16.8142.6
    MANAGERS REAL ESTATE SECURITIES FUND (MRESX)-13.0313.3
    FORTIS MIX UMBRELLA FUND NV - HIGH INCOME PROPERTY FUND - CLASSIC (AAHIP)-11.1153.5
    COLUMBIA FUNDS SERIES TRUST I - COLUMBIA REAL ESTATE EQUITY FUND - I (CREIX)-10.8486.3
    COLUMBIA FUNDS SERIES TRUST I - COLUMBIA REAL ESTATE EQUITY FUND - C (CRECX)-10.5486.3


    Logistic Real Estate Yields




  • 3 Stock Picks from CLSA's Francis Cheung
  • Photo Release -- Wheeler Real Estate Investment Trust, Inc ...
  • Dividend Spectrum September Edition
  • FAQs About Retirement Portfolio Bucketing
  • SEGRO plc Upgraded to "Neutral" by Kempen & Co (SGRO)
  • SEGRO plc Lifted to Neutral at Kempen & Co (SGRO)
  • DCT Industrial Trust Receives Consensus Recommendation of "Buy ...
  • Huntington Bancshares Given Average Recommendation of "Hold ...
  • Vereit Director Hugh R. Frater Acquires 31000 Shares (VER)
  • VEREIT Investor Day 2015 - How A 'Cultural Revolution' Will Pay ...
  • Supermarket warehouses worth more than stores
  • DCT Industrial Trust Upgraded to Overweight by KeyBanc (DCT)

    Some facts about warehousing segment: This chart shows average warehousing stock per 1000 persons for select countries



    Some facts about Moscow Warehouses:

  • German Food Retailer Leases Giant Plot in Moscow Region
  • Sales of Warehouse Property in Russia Boom as Prices Drop
  • The Couture Club
  • Russian Trade Ministry Seeks to Ban Dollar Leases
  • Moscow Warehouse Rental Rates Fall to 5-Year Low
  • The Morning Risk Report: Iran Sanctions to Get More Complex
  • German Food Retailer Leases Giant Plot in Moscow Region
  • Sales of Warehouse Property in Russia Boom as Prices Drop
  • Blackstone's Logicor said in exclusivity on €550m Immofinanz logistics
  • The Morning Risk Report: Court Ruling Lets FTC Flex Cybersecurity ...

    Current yields are soft compared to their historical averages for Moscow assets (Warehouse Yields)



    Retail Real Estate Yields



  • National Retail Properties Series D Cumulative Redeemable ...
  • Market Wrap: Yields tighten as investors fight over retail assets
  • BlackRock sees new opportunity in China real estate
  • Small Cap Buyers Have Big Appetite for Real Estate
  • How can the Chinese get cracking in the US commercial market ...
  • Fundrise Goes Global: Australia, UK, Canada Now May Invest
  • Ex-Shaw's redo sates public's need for more closets
  • Supermarket warehouses worth more than stores
  • US stocks lower in midday trade as global markets fall
  • WP Glimcher Inc Declares $0.25 Quarterly Dividend (WPG)

    Retail stock per 1000 persons



    Some Facts about Moscow Retail

  • Economic Crisis Empties Moscow Central Streets
  • Russian Trade Ministry Seeks to Ban Dollar Leases
  • Corporate Corner
  • Euroshop to Become First Foreign Fixed-Price Chain in Russia
  • Russia's Anatoly Motylyov: Rise, fall, repeat

    Current yields are soft compared to their historical averages for Moscow assets (Retail Yields)



    Some facts about Russian Retail: Modern food retail penetration in Russia remains far lower than its European and Asian counterparts



    Some facts about Russian consumers: while its net ajusted disposable income per houshold in the same group is above average



    Office Real Estate Yields

  • Is Dream Office Real Estate Investment Trust's 10.4% Yield Safe?
  • Small Cap Buyers Have Big Appetite for Real Estate
  • How can the Chinese get cracking in the US commercial market ...
  • Catella - Corporate Finance: Catella: Office Transactions in Europe ...
  • West Valley walls are going up and roofs going on
  • Gecina Sells the "L'Angle" Building to AG2R LA MONDIALE for ...
  • Seniors Housing Pricing: Bubble Or Not?
  • Dividend Spectrum September Edition

    Global Ofice Yields


    Source: MidLincoln Research

    Residential Real Estate Yields

  • Unusual Way to Earn High Yields in Real Estate
  • How can the Chinese get cracking in the US commercial market ...
  • A Novel Way to Earn High Yields in Real Estate
  • Apollo Residential Mortgage, Inc. to Present at JMP Securities ...
  • Dividend Spectrum September Edition
  • Annaly Capital Management, Inc. Announces the $592 Million ...
  • Swimming In A Sea Of Junk (Bonds): Emerging Asia's New Asset ...
  • Top Yield REITs Post 18.20% Higher Return By 5 Highest Yield ...



    Index News

  • Fund Managers Assess the Global Real Estate Investment Market
  • Hibernia Reit admitted to leading real-estate index
  • European listed real estate sees strong equity inflows as global ...
  • State Street Global Advisors Introduces Two New Currency Hedged ...
  • Stocks crash to push more China cash into global real estate
  • Dublin moves up global real estate investment rankings
  • Global Expansion of REIT Brand Centered on Variety and Familiarity

    Some key metrics and valuations
    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Scentre GroupSCG:AUREIT14416.662.76%10.396.9366.7028.6821.08%120.21
    Westfield CorpWFD:AUAustralia REIT14475.24-12.6412.8799.99-0.0036.99%140.32
    GPT Group/TheGPT:AUAustralia REIT5693.364.89%9.3211.1899.9945.5720.14%190.50
    Dexus Property GroupDXS:AUAustralia REIT5056.085.63%10.707.7172.0660.2413.63%149.37
    Goodman GroupGMG:AUAustralia Real Estate Services7081.523.96%8.098.2599.9932.0412.24%152.31
    Mirvac GroupMGR:AUAustralia Real Estate Owners & Developers4428.815.61%10.143.7436.8856.893.59%101.36
    StocklandSGP:AUAustralia REIT6386.376.38%9.764.1742.7362.27-1.77%107.61
    IMMOFINANZ AGIIA:AVAustria Real Estate Owners & Developers2518.64--3.950.00-9.87%
    Multiplan Empreendimentos Imobiliarios SAMULT3:BZBrazil Real Estate Owners & Developers2102.950.25%22.477.5233.475.62-15.16%15.60
    BR Properties SABRPR3:BZBrazil Real Estate Owners & Developers850.812.00%37.704.6212.2575.40-16.84%47.26
    BR Malls Participacoes SABRML3:BZBrazil Real Estate Owners & Developers1509.241.82%17.364.3024.7731.60-37.93%15.22
    Evergrande Real Estate Group Ltd3333:HKChina Real Estate Owners & Developers8893.3011.31%3.890.4611.8344.0069.31%135.39
    Longfor Properties Co Ltd960:HKChina Real Estate Owners & Developers7277.713.67%5.310.8415.8219.494.26%48.40
    Sino-Ocean Land Holdings Ltd3377:HKChina Real Estate Owners & Developers4109.115.66%5.830.7112.1833.00-0.37%53.12
    Shui On Land Ltd272:HKChina Real Estate Owners & Developers1802.043.56%7.991.6320.4028.44-8.13%46.87
    Country Garden Holdings Co Ltd2007:HKChina Real Estate Owners & Developers7956.672.89%4.730.4910.3613.67-10.03%23.41
    Guangzhou R&F Properties Co Ltd2777:HKChina Real Estate Owners & Developers3001.905.06%4.890.5010.2224.74-15.44%28.78
    Agile Property Holdings Ltd3383:HKChina Real Estate Owners & Developers1955.976.46%4.090.317.5826.42-32.94%11.12
    SOHO China Ltd410:HKChina Real Estate Owners & Developers2026.175.37%8.477.4087.3745.48-48.72%89.81
    KlepierreLI:FPFrance REIT13641.293.59%-9.14-0.0017.01%
    Raven Russia LtdRUS:LNGuernsey, Channel Islands Real Estate Owners & Developers460.32--1.870.00-37.27%
    Etalon Group LtdETLN:LIGuernsey, Channel Islands Real Estate Owners & Developers467.417.27%3.670.6116.6226.68-52.08%1.70
    Greentown China Holdings Ltd3900:HKHangzhou China Real Estate Owners & Developers1654.43-5.330.356.57-0.00-28.55%-13.17
    China Overseas Land & Investment Ltd688:HKHong Kong (SAR) Real Estate Owners & Developers29772.262.35%6.341.4522.8714.9011.67%57.25
    China Resources Land Ltd1109:HKHong Kong (SAR) Real Estate Owners & Developers16812.942.64%7.101.1716.4818.748.84%51.11
    Link REIT823:HKHong Kong (SAR) REIT12230.164.35%3.5512.5199.9915.44-3.33%375.10
    China Jinmao Holdings Group Ltd817:HKHong Kong (SAR) Real Estate Owners & Developers2616.106.05%5.490.7513.6633.21-4.01%51.52
    Yuexiu Property Co Ltd123:HKHong Kong (SAR) Real Estate Owners & Developers2000.234.48%6.280.7812.4228.13-15.01%33.41
    New World Development Co Ltd17:HKHong Kong (SAR) Real Estate Owners & Developers9066.595.38%5.871.1419.4231.58-17.77%41.51
    Shanghai Industrial Holdings Ltd363:HKHong Kong (SAR) Real Estate Owners & Developers2567.454.42%7.961.0312.9435.18-21.58%32.73
    Shimao Property Holdings Ltd813:HKHong Kong (SAR) Real Estate Owners & Developers5116.977.89%4.340.5312.2134.24-26.36%29.90
    Poly Property Group Co Ltd119:HKHong Kong (SAR) Real Estate Owners & Developers1020.503.52%-0.32-0.00-32.45%
    China Overseas Grand Oceans Group Ltd81:HKHong Kong (SAR) Real Estate Owners & Developers727.350.40%7.160.425.872.86-49.06%-33.34
    DLF LtdDLFU:INIndia Real Estate Owners & Developers3315.301.62%40.792.897.0966.08-25.51%21.01
    Unitech LtdUT:INIndia Real Estate Owners & Developers234.05-1.800.4525.00-0.00-73.90%-36.55
    Bumi Serpong Damai Tbk PTBSDE:IJIndonesia Real Estate Owners & Developers1891.871.06%9.804.0241.0210.39-5.85%49.90
    Japan Retail Fund Investment Corp8953:JPJapan REIT4638.713.84%25.498.5933.7097.888.13%128.37
    Mitsubishi Estate Co Ltd8802:JPJapan Real Estate Owners & Developers28433.570.57%47.973.026.3027.344.01%3.82
    Sumitomo Realty & Development Co Ltd8830:JPJapan Real Estate Owners & Developers15389.730.57%22.532.3210.3012.84-1.14%13.62
    Mitsui Fudosan Co Ltd8801:JPJapan Real Estate Owners & Developers26744.860.86%26.702.067.7222.96-2.83%15.29
    Daelim Industrial Co Ltd000210:KSKorea, Republic of (South) Non-Residential Bldg Const2118.070.14%-0.28-0.00-16.58%
    UEM Sunrise BhdUEMS:MKMalaysia Real Estate Owners & Developers1150.832.78%10.191.8818.4528.33-41.81%8.92
    SM Prime Holdings IncSMPH:PMPhilippines Real Estate Owners & Developers12424.511.04%21.078.3239.4921.9119.50%73.98
    Ayala Land IncALI:PMPhilippines Real Estate Owners & Developers11072.051.18%31.805.4617.1737.528.24%45.28
    Ayala CorpAC:PMPhilippines Real Estate Owners & Developers10092.380.76%26.022.8610.9919.787.73%26.62
    PIK Group PJSCPIKK:RMRussian Federation Homebuilders1956.48-21.242.3911.25-0.0058.47%62.63
    LSR Group PJSCLSRG:LIRussian Federation Real Estate Owners & Developers852.5817.92%---0.00-47.04%
    Growthpoint Properties LtdGRT:SJSouth Africa REIT5234.345.03%17.147.7345.1086.2110.72%139.04
    Farglory Land Development Co Ltd5522:TTTaiwan Real Estate Owners & Developers930.9610.47%4.231.2329.0844.291.86%85.14
    Ruentex Development Co Ltd9945:TTTaiwan Real Estate Owners & Developers1564.9410.92%5.064.2183.2055.26-21.21%126.33
    Lippo Karawaci Tbk PTLPKR:IJTangerang, Jawa Barat, 15811 Indonesia Real Estate Owners & Developers1877.061.42%10.102.2021.7814.3420.15%60.32
    Central Pattana PCLCPN:TBThailand Real Estate Owners & Developers5605.331.44%25.508.7334.2436.72-1.20%58.40
    Emlak Konut Gayrimenkul Yatirim Ortakligi ASEKGYO:TITurkey Real Estate Services3074.233.94%13.036.2347.8151.34-3.46%96.81
    Segro PLCSGRO:LNUnited Kingdom REIT4742.823.81%3.8614.6599.9914.7120.16%424.69
    Land Securities Group PLCLAND:LNUnited Kingdom REIT14810.382.63%3.9912.5099.9910.4919.87%353.80
    British Land Co PLC/TheBLND:LNUnited Kingdom REIT12648.553.47%4.7817.2099.9916.5918.97%404.76
    Intu Properties PLCINTU:LNUnited Kingdom REIT6516.204.32%15.697.4447.4267.78-1.53%112.13
    Public StoragePSA:USUnited States REIT35429.003.32%35.7515.4343.16118.6927.13%167.38
    Essex Property Trust IncESS:USUnited States REIT14215.002.66%64.8112.2918.96172.3921.77%162.46
    UDR IncUDR:USUnited States REIT8654.003.36%32.159.9530.95108.0221.29%142.26
    Macerich Co/TheMAC:USUnited States REIT12080.003.41%7.459.4599.9925.4020.58%179.53
    AvalonBay Communities IncAVB:USUnited States REIT22200.002.99%29.7412.5842.3088.9219.78%135.41
    Equity ResidentialEQR:USUnited States REIT26148.003.08%29.089.7933.6789.5719.02%127.32
    Federal Realty Investment TrustFRT:USUnited States REIT9217.002.82%48.2712.7826.48136.1213.94%142.41
    Realty Income CorpO:USUnited States REIT10757.004.99%41.1210.6025.78205.1913.17%217.16
    Simon Property Group IncSPG:USUnited States REIT56029.003.42%36.1111.1930.99123.5013.14%145.66
    Regency Centers CorpREG:USUnited States REIT5709.003.21%31.6210.3232.64101.5012.42%129.08
    CBRE Group IncCBG:USUnited States Real Estate Services10985.00-21.591.175.42-0.0010.39%8.37
    Duke Realty CorpDRE:USUnited States REIT6429.003.65%21.606.0828.1578.849.82%109.35
    Kimco Realty CorpKIM:USUnited States REIT9667.004.10%16.418.7853.5067.288.73%127.25
    General Growth Properties IncGGP:USUnited States REIT22336.002.85%18.209.1350.1651.878.24%106.22
    Boston Properties IncBXP:USUnited States REIT17580.002.27%31.207.2923.3770.826.56%83.70
    Ventas IncVTR:USUnited States REIT17895.005.87%30.845.0916.50181.036.29%187.13
    SL Green Realty CorpSLG:USUnited States REIT10893.002.22%118.536.665.62263.145.81%170.18
    Health Care REIT IncHCN:USUnited States REIT22450.005.17%26.516.0022.63137.065.80%153.13
    Digital Realty Trust IncDLR:USUnited States REIT8558.005.40%24.055.2521.83129.875.24%147.04
    Crown Castle International CorpCCI:USUnited States REIT25930.004.22%49.276.9214.05207.922.72%189.56
    Plum Creek Timber Co IncPCL:USUnited States REIT6535.004.67%35.354.5712.93165.082.44%159.25
    Prologis IncPLD:USUnited States REIT19778.004.24%17.4710.4859.9974.071.32%132.06
    Vornado Realty TrustVNO:USUnited States REIT16927.002.81%45.396.6414.63127.55-0.34%110.59
    Iron Mountain IncIRM:USUnited States REIT6080.006.57%44.481.944.36292.23-1.92%264.34
    HCP IncHCP:USUnited States REIT17120.006.11%19.047.1737.66116.33-2.37%146.73
    American Tower CorpAMT:USUnited States REIT37905.002.05%48.158.4517.5598.71-3.66%78.59
    Liberty Property TrustLPT:USUnited States REIT4692.006.07%23.365.7124.44141.80-7.51%149.51
    Weyerhaeuser CoWY:USUnited States REIT14073.004.53%26.112.057.85118.28-11.23%102.94
    Host Hotels & Resorts IncHST:USUnited States REIT12904.004.65%18.662.4313.0286.77-18.32%76.96
    VEREIT IncVER:USUnited States REIT7294.006.82%-4.33-0.00-34.26%

    Top 10 Real Estate Picks With Highest Score

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Segro PLCSGRO:LNUnited Kingdom REIT4742.823.81%3.8614.6599.9914.7120.16%424.69
    British Land Co PLC/TheBLND:LNUnited Kingdom REIT12648.553.47%4.7817.2099.9916.5918.97%404.76
    Link REIT823:HKHong Kong (SAR) REIT12230.164.35%3.5512.5199.9915.44-3.33%375.10
    Land Securities Group PLCLAND:LNUnited Kingdom REIT14810.382.63%3.9912.5099.9910.4919.87%353.80
    Iron Mountain IncIRM:USUnited States REIT6080.006.57%44.481.944.36292.23-1.92%264.34
    Realty Income CorpO:USUnited States REIT10757.004.99%41.1210.6025.78205.1913.17%217.16
    GPT Group/TheGPT:AUAustralia REIT5693.364.89%9.3211.1899.9945.5720.14%190.50
    Crown Castle International CorpCCI:USUnited States REIT25930.004.22%49.276.9214.05207.922.72%189.56
    Ventas IncVTR:USUnited States REIT17895.005.87%30.845.0916.50181.036.29%187.13
    Macerich Co/TheMAC:USUnited States REIT12080.003.41%7.459.4599.9925.4020.58%179.53

    Top 10 Real Estate Picks With Lowest Score

    valuestockCountryIndustryMCapUSDmnDividendYieldPEPSNetMarginPctPayoutRatio52wkchangeScore
    Unitech LtdUT:INIndia Real Estate Owners & Developers234.05-1.800.4525.00-0.00-73.90%-36.55
    China Overseas Grand Oceans Group Ltd81:HKHong Kong (SAR) Real Estate Owners & Developers727.350.40%7.160.425.872.86-49.06%-33.34
    Greentown China Holdings Ltd3900:HKHangzhou China Real Estate Owners & Developers1654.43-5.330.356.57-0.00-28.55%-13.17
    Etalon Group LtdETLN:LIGuernsey, Channel Islands Real Estate Owners & Developers467.417.27%3.670.6116.6226.68-52.08%1.70
    Mitsubishi Estate Co Ltd8802:JPJapan Real Estate Owners & Developers28433.570.57%47.973.026.3027.344.01%3.82
    CBRE Group IncCBG:USUnited States Real Estate Services10985.00-21.591.175.42-0.0010.39%8.37
    UEM Sunrise BhdUEMS:MKMalaysia Real Estate Owners & Developers1150.832.78%10.191.8818.4528.33-41.81%8.92
    Agile Property Holdings Ltd3383:HKChina Real Estate Owners & Developers1955.976.46%4.090.317.5826.42-32.94%11.12
    Sumitomo Realty & Development Co Ltd8830:JPJapan Real Estate Owners & Developers15389.730.57%22.532.3210.3012.84-1.14%13.62
    BR Malls Participacoes SABRML3:BZBrazil Real Estate Owners & Developers1509.241.82%17.364.3024.7731.60-37.93%15.22

    Global Real Estate Index



    Source: Midlincoln

    Global Real Estate Index vs. S&P 500



    Source: Midlincoln

    This is a Beta Version

    Ovanes Oganisyan

    research@midlincoln.com

    •  Sep 16, 2015· Midlincoln Research · midlincoln.com