Edward Mui

We see opportunity in the mall owner as management looks at options to unlock the value of its assets.

Its portfolio and stewardship position the REIT well to compete in a new, uncertain retail world.

To navigate the choppy waters ahead, keep it simple and focus on the fundamentals.

Long in the tooth, the current real estate cycle keeps going.

Our real estate outlook remains stable for now and operating fundamentals continue to be healthy, but risks are due to increase as markets get deeper into the cycle.

High-quality shopping centers will remain critical to retail strategies.

Real-estate service firms CBRE Group and Jones Lang LaSalle have wide moats, good growth prospects, and are trading at about a 30% discount to our fair value estimate.

Attractive investment opportunities still exist but are much harder to come by, as wary investors flock to 'safer' REIT names.

Demand is decelerating but still robust.

Despite recent increases in economic uncertainty, there are still attractive opportunities within the real estate sector.