by Matthew Bechard
Let the games begin. Seven industry experts will participate in the initial Real Estate Portfolio Stock Challenge.
As we detailed in the last issue of Portfolio, analysts predicted the 2003 year-end value of the NAREIT Equity REIT Index and the Morgan Stanley REIT Index. In addition, each entrant will maintain a portfolio containing the five individual real estate stocks anticipated to post the highest returns—the portfolios can be altered throughout the year. Somewhat surprisingly, only five companies were selected by more than one participant, with Chelsea Property Group (NYSE: CPG) the only company selected three times.
It’s still very early in the game, but Jeff Donnelly of Wachovia Securities has jumped out to the early advantage posting a 0.29 percent total return in January. Six of the seven participants outperformed the NAREIT Equity Index return of –2.91 percent in January. See the chart for a complete listing of the participants, their portfolios and performance as of January 31.
To see updates of how the contest is progressing, log on to www.nareit.com/portfoliomag/challenge.shtml. The Stock Challenge is for entertainment purposes only and readers should keep in mind that the selections made are not recommendations to purchase any specific stock.
