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REITs
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1Q19 Earnings Test: Pass or Fail? From Morgan Stanley today....brief clip..... 1Q19 Earnings Test: Pass or Fail? We give REITs a B+ as 64% of our coverage beat cons vs. 45% for the S&P. REITs returned -1% during the earnings season as misses were quickly flunked while beats saw modest relative performance given high expectations. The market grapples with lofty valuations vs. a supportive macro environment. |
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