SL Green Realty Corp (SLG) is adding value to its portfolio in secondary and tertiary activities around its core New York City portfolio, as Boston Properties, Inc. (BXP) is maintaining a high-quality portfolio in solid markets, making both stocks top investments in the industrial REIT sector, says David Toti, Senior Managing Director, REIT Analyst and Director of U.S. equity research at Cantor Fitzgerald.
“SL Green continues to add significant value in what I call secondary and tertiary activities around their core portfolio. By that I mean transaction activity, the structured finance portfolio, an increasingly larger redevelopment/development pipeline, but again, all wrapped around their core New York City portfolio. They are not straying that far from their core competency,” Toti said.
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Toti is also focused on Boston Properties in the industrial REIT space, as the company has a high-quality portfolio and has recently undergone positive management changes.
“We like Boston Properties as well. The stock has underperformed. High-quality portfolio, they are in all the right markets. They’ve had some recent management changes, which I think investors are a bit more positive about,” Toti said.
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