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BofA Executive: Retail REIT Outlook 'Respectable'

WASHINGTON, DC-Dipping consumer confidence has led most retail real estate companies to lower expectations this year, but an analyst says because of long-term leases, most are somewhat buffered by lagging retail sales.

By Wendy Watkins | Updated on March 14, 2001

WASHINGTON, DC-Dipping consumer confidence has led most retail real estate companies to lower their sales expectations and their percentage rent expectations this year, according to Amy deLone, associate analyst at Banc of America Securities. She says because of long-term leases, most retail real estate companies are somewhat buffered by lagging retail sales.

Speaking to members of the National Association of Real Estate Investment Trust during a recent conference, deLone said consumer confidence is at its lowest level in three years. Expectations have taken a decisive downturn and are at their lowest level since 1993.

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