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By Steve R. Brown - January 11, 2018
As customer preference continues to skew toward online purchases, brick-and-mortar stores continue to feel the impact. The competition can come from online-only rivals or from traditional retailers ramping up their e-commerce platform—including competition from a brick-and-mortar store’s own online presence.
Regardless of whether an individual retailer comes out ahead after multi-channel sales are combined, it certainly has an effect for real estate investment trusts (REITs) investors. 2017 brought with it many notable department store closings around the country, from Sears to Macy’s to Dillard’s. However, these stores are closing in B- and C-tier malls—not across the board. That’s important to note because I believe A-tier mall property owners still present opportunity in the REITs space. We’re being very selective in choosing where to invest headed into 2018, and I see a bright year on the horizon.
I also see REITs benefiting this year from tax reform, both in the short-term and the long-term—specifically rental properties. Watch the four-minute video below for more insight into what’s driving my thought process as I lead the charge for locating opportunity in the next 12 months.
Looking forward to 2019, we think there’s a great opportunity for small caps to rally again. Sr. Portfolio Manager Jeff John gives three reasons why.
February 20, 2019
Portfolio Manager Jeff Bourke describes how our growth teams are navigating this uncertain environment to find compelling long-term growth opportunities.
February 14, 2019
Learn why we believe high-quality regional bank stocks are attractive entering 2019.
January 31, 2019
Online retailers and tax reform are having big impacts on the REITs environment in 2018. Here's where PM Steve Brown is looking for opportunities this year.
January 11, 2018
References to specific securities are for illustrative purposes only, and are not intended as recommendations to purchase or sell securities. Opinions and estimates offered constitute our judgment and, along with other portfolio data, are subject to change without notice.
The opinions expressed are those of American Century Investments (or the portfolio manager) and are no guarantee of the future performance of any American Century Investments' portfolio. This material has been prepared for educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal or tax advice.