Valuations Reflect Favorable REIT Fundamentals, Leading to Neutral Stance on Sector

Financial Services >> Analyst Interviews >> May 30, 2014

Paul E. Adornato, CFA, is a Senior Analyst in BMO Capital Markets' Equity Research group, covering the real estate investment trust sector. Before joining BMO Capital Markets, he co-headed the REIT research effort at independent equity firm Maxcor Financial. Before Maxcor Financial, Mr. Adornato worked at Cobblestone Research, LLC, an independent research firm that he founded. From 1998 to 2000, he co-managed a $700 million REIT portfolio at Aeltus Investment Management, which consistently performed in the top quartile of all real estate funds. From 1992 to 1998, Mr. Adornato was a Research Analyst at Merrill Lynch and later at PaineWebber, where he was a member of Institutional Investor's top-ranked REIT research team. Mr. Adornato joined BMO Capital Markets in 2005. He ranked second out of 65 analysts in the real estate category of The Wall Street Journal’s “Best on the Street” analyst survey for 2010. He holds an M.S. in real estate from the Massachusetts Institute of Technology and a B.A. from Dartmouth College. Profile

TWST: Let’s start with a snapshot of your current coverage universe.

Mr. Adornato: I cover 31 stocks, including regional malls, shopping centers, manufactured homes, self storage,

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Valuations Reflect Favorable REIT Fundamentals, Leading to Neutral Stance on Sector

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Valuations Reflect Favorable REIT Fundamentals, Leading to Neutral Stance on Sector

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