Adornato: 2012 was an interesting year for REITs

12/17/2012 |

2012 saw a number of trends develop in the REIT space, making it an interesting year for the industry, said Paul Adornato, REIT analyst with BMO Capital Markets, at REITWorld 2012: NAREIT's Annual Convention for All Things REIT. At the beginning of the year small cap REITs were undervalued. "Then, within just a couple of months, the small cap names definitely caught up to the rest of the pack," he said. REITs were doing well for much of the year, he also said, but more recently concerns over the "fiscal cliff" and Europe are growing.

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