Analysis: Is there a case for externally managed REITs?

03/27/2014 | SNL Financial (free content)

External management can make sense for REITs that are new or growing and do not have the cash flow to hire full-time internal staff, proponents say. However, the model is under fire from those who say external managers cost more and have a greater incentive to expand a REIT's portfolio instead of focusing on the bottom line. One hospitality REIT, Ashford Hospitality Trust, has created a new structure for external management that addresses investor concerns.

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