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Credit Suisse On REIT Stocks: NYC/East Coast Will Outperform West Coast

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Office sector stocks have gained 18 percent in the last seven weeks, after declining 15 percent from the beginning of the year till mid-February. Credit Suisse’s Ian Weissman maintained a cautious stance on the sector, given an anticipated weakening of tech office demand in the second half of the year.

“New supply in NYC (over 5% of the Class A market is currently under construction) will be an overhang as private office using job growth is estimated to be cut in half in '16 versus '15 (80% correlation between private office using job growth and net absorption),” analyst Ian Weissman wrote.

East Coast Companies To Outperform West Coast Players

Asset pricing is likely to shortly begin to rollover for the entire office sector, and the performance of West Coast companies may be lower than that of...