The Benchmark Retail Real Estate SCTR℠ Index measures the performance of publicly-traded real estate securities, including Real Estate Investment Trusts (REITs), of exchange listed companies in the U.S. that primarily own and manage retail real estate and rent space in those properties to tenants. Retail equity securities include REITs that focus on large regional malls, outlet centers, grocery-anchored shopping centers and power centers that feature big box retailers.
Location is very important for all commercial real estate owners, but in the retail sector it is crucial and data shows staying power and stability among retail REITs, which tend to own high-quality properties in the more desirable area.
The retail environment remains very competitive, and the prospect of retailer failures, store closings, and consolidations is always a concern.
Neighborhood shopping center owners, not surprisingly, face perpetual challenges. Mall REITs own prestigious supermalls, containing more than 1 million square feet, where rental rates are high.
|NUMBER OF HOLDINGS:||31|
|WEIGHTING:||MODIFIED MARKET CAP|
TOP 10 HOLDINGS
Top 10 Holdings
As of 02-20-2019
Benchmark Real Estate SCTR℠ proprietary holdings and performance history are provided upon request. SCTR℠ indices are protected through various intellectual property rights and unfair competition and misappropriation laws. In particular, Benchmark Investments has registered the “SCTR” “RTL” and “SCTRs” servicemarks. Benchmark requires a license to launch any product whose performance is linked to the value of a particular SCTR℠ index, for example, derivatives, bonds, swaps and OTC products and for all use of the SCTR℠ name or name of the SCTR℠ index in the marketing of the product. See the Terms of Service for more information.
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|Benchmark Retail Real Estate SCTR℠ Index||RTLSCTR||Total Return||NASDAQ|
RTL Returns: Not All Real Estate is Created Equal
RTL℠ Returns vs. Benchmark SCTRs℠ and FTSE Nareit Indexes demonstrate how each property type has its own set of investment characteristics, including individual economic cycles and risk factors, competition threats, and growth potential. Real Estate SCTRs℠ provide tailored solutions for commercial real estate investment management. There is significant dispersion of market multiples (Share Prices/Fund From Operations) and returns throughout the property sectors. SCTRs℠ give market participants direct access to the property class they desire.
Benchmark RTL 1YR Percentage Returns
Benchmark RTL 3YR Percentage Returns
Advantages of Real Estate SCTRs
Correlation and risk-adjusted return metrics demonstrate that listed equity real estate investment trusts provide optimal exposure to the real estate asset class.
Allows investors to take or adjust positions quickly and efficiently by buying and selling positions corresponding to the weights of all constituents which are traded on liquid public markets such as NYSE & Nasdaq.
Provides direct access to institutional office real estate diversified over many geographic areas and management teams without investing in properties or with a real estate equity managers
Portfolio Investment Thesis
Real Estate SCTRs℠ provide tailored solutions for commercial real estate investment management. Main drivers for each real estate SCTR℠:
- Market “cap rates”
- Supply/ demand conditions
- Competition from nearby properties
- Employment growth
- Consumer and business spending
- Interest rates
- Lease revenues
- Property expenses
- Occupancy rates
- Prevailing market rental rates
- Tenant quality and replacement cost