Financial Services >> Analyst Interviews >> January 3, 2005
PAUL MORGAN focuses on coverage of retail REITs as part of the award-
winning real estate research team at Friedman, Billings, Ramsey Group,
Inc. He joined FBR from Thomas Weisel Partners, where he was a Senior
Real Estate Analyst. Previously, he was a Senior Analyst at PaineWebber
and Salomon Smith Barney, where he was responsible for educating
investors about the retail and net lease REIT sectors. Mr. Morgan's real
estate industry knowledge is supplemented by his experience in economic
research. He served four years at the Federal Reserve Board and three
years as a research fellow and university lecturer at Princeton
University. Mr. Morgan holds an MA in Economics from Princeton and a BA
in Economics from the University of Wisconsin-Madison. Profile
David Loeb is a Senior Research Analyst and Managing Director responsible for Robert W. Baird & Co.'s coverage of hotel real estate investment trusts and select hotel C-corps. Prior to joining Baird in 2006, he maintained similar coverage as a Managing Director in Friedman Billings Ramsey's research department. During his 20 years of research experience, Mr. Loeb developed an extensive background in the hotel space, having covered it since 1993. He also brings equity research experience from Credit Lyonnais Securities, CIBC World Markets (formerly Oppenheimer & Co., Inc.) and Bank of America. In both 2007 and 2008, Mr. Loeb was ranked by StarMine as a top-three industry estimator in the REIT industry. He earned an MBA from Washington University, and a B.A. in psychology and sociology from Brandeis University. Profile
2004 in the REIT market?
Mr. Morgan: There's little question that for REITs, 2004 played out a
lot better than most
