![]() However, some bearish headwinds are putting pressure on Realty Income beyond basic economic concerns and higher interest rates. Beating this real estate stock’s durability and longevity is tough. But that is what makes this real estate stock a steal for income investors, especially if you add it to a retirement portfolio to appreciate over the long run. The stock suffered in 2023 dropping almost 10% and trading at just 1.32x book value. It’s hard to cover top real estate stocks for 2024 (or real estate stocks in general) without mentioning Realty Income (NYSE: O). For investors wondering what the best real estate stocks for 2024 might be, here are three top picks. Standard due diligence rules still apply, especially as remote work trends and high mortgage rates continue pressuring certain real estate sectors. But don’t let that enthusiasm cloud your judgment. If rumors that the Fed is finished with rate hikes are ture, REITs and real estate stocks could have their best year in decades. Historically, REITs outperform wider market cycles after a Federal Reserve tightening period, with REITs averaging a 20.9% annualized gain four quarters after a quantitative tightening cycle ends. The recent rally points to great possibilities for real estate stocks in 2024. But the latter half offered renewed hope as physical real estate pricing and Real Estate Investment Trusts (REITs) surged. The first half of the year saw substantial downward pressure in both commercial and residential sectors due to interest rate hikes. Like broad markets, real estate stocks had a turbulent year in 2023.
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