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Chilton Capital Management LLC

1177 West Loop South

Suite 1310

Houston, Texas 77027

How to find us

Speak to a Representative

toll free: 1 (800) 919-1995

local: 1 (713) 650-1995

Tradition. Innovation. Results.

REIT Outlook

The Chilton REIT Outlook is a monthly publication that explores the drivers of commercial real estate pricing and total returns to clients.

Who We Are

Bruce G. Garrison, CFA

Matthew R. Werner, CFA

Blane T. Cheatham

Parker T. Rhea

Bruce G. Garrison, CFA

Managing Director & REIT Portfolio Manager

Experience: 45 years

 

Mr. Garrison is the senior portfolio manager for the firm's REIT Strategy. Prior to joining Chilton Capital Management in 2011 he served as a Director in the Investments Group at Salient Partners. Mr. Garrison began his career in 1972 with Morgan Guaranty Trust Co. His career experience also includes tenure as Managing Director for Kidder Peabody & Co., and Paine Webber (now UBS), where he participated in over $8 billion of financings (primarily equity) involving REITs. In 1993 and 1994, Mr. Garrison was voted Institutional Investor All American for REIT Research, first and second, respectively, and won the Realty Stock Review All-Star Analyst Award in 1992, 1993, and 1994.

 

Mr. Garrison has a BBA and MBA from the University of Texas at Austin. He is a CFA charter holder, a member of the CFA Institute, and the CFA Society of Houston and a member and former governor of the National Association of Real Estate Investment Trusts (NAREIT). He also serves as a Board Member of the Houston S.P.C.A.

 

Mr. Garrison serves on the firm's Investment Policy Committee.

Matthew R. Werner, CFA

REIT Portfolio Manager & Analyst

Experience: 10 years

 

Mr. Werner is an analyst and portfolio manager for the firm's REIT Strategy. Prior to joining Chilton Capital Management in 2011, he served as Associate in the Investments Group at Salient Partners where he performed due diligence on real estate private equity and hedge funds.

 

Mr. Werner has been quoted in numerous national publications and has been interviewed as a "REIT Expert". He has made REIT education a priority by speaking to symposiums and investor associations around the country.

 

Mr. Werner has a BS (Honors) from Boston College, Carroll School of Management. He is a CFA charterholder, a member of the CFA Institute and the CFA Society of Houston, and a member of the National Association of Real Estate Investment Trusts (NAREIT). He is also a Board Member for the Amigos de las Americas Houston Chapter, an organization that sends local high school students on community service trips to rural, underprivileged Central and South American communities.

Blane T. Cheatham

Analyst

Experience: 4 years

 

Mr. Cheatham joined the Chilton Capital Management REIT Research Team in 2013 to assist in the analysis and recommendation of public REIT securities for the Chilton Capital REIT composite.

 

Mr. Cheatham attended Texas A&M University and graduated summa cum laude in 2011 with a BBA in Finance. He then received a Master’s Degree in Real Estate Finance from Texas A&M in 2013.

 

Mr. Cheatham passed all three levels of the CFA Program and may be awarded the charter upon completion of the required work experience.

Parker T. Rhea

Analyst

Experience: 5 years

 

Mr. Rhea joined the Chilton Capital Management REIT research team in 2016 to assist in the analysis and recommendation of public REIT securities for the Chilton Capital REIT Strategy.

 

Prior to Chilton, he worked as an analyst for KeyPoint Capital Management, a long/short equity hedge fund with a real estate focus. Parker also was an analyst at Peloton Real Estate, where he helped establish an office/industrial acquisitions and development platform.

 

Mr. Rhea graduated from Davidson College with a BA in Political Science. He later earned a Master of Science in Finance from the University of Texas at Dallas, as well as a Master of Real Estate Development from the University of Southern California.

2017

January | The 2017 Chilton REIT Forecast

February | Class A Mall REITs: Misunderstood and Mispriced

March | Houston Real Estate Primed for a Comeback

 

2016

January | The Golden State of California's Office Market

February | The 2016 Chilton REIT Forecast

March | Tower REITs: The Irreplaceable Backbone of the Smart Phone Revolution

April | E-commerce: Shifting the Tide of Industrial Demand

May | GICS Change Validates the Investment Merits of REITs

June | The Value of Great Management: Capital Recycling

July | Class A Malls Standing Tall

August | There’s No Place Like Apartment Homes

September | Self Storage REITs: Up to the Challenge

October | REIT Roadmap for Generalist Investors

November | The Real Estate Cycle Is Maturing, but Is Not Over

December | The Trump Effect on Equity REITs

 

2015

January | US is the Best, or at Least Better than the Rest

February | The Importance of Capital Allocation within REITs

March | Apartment REITs: The Right Places at the Right Time

April | Reality Check on REITs and Rising Rates

May | Drilling Deeper into Houston Space

June | Multiple Problems with Claims that REITs are “Expensive”

July | 5-Star Analysis is Key in the Lodging Sector

August | A Brief History of Grocery-Anchored Shopping Centers

September | The REIT Way to Measure Risk

October | Airbnb: Expanding the Definition of Lodging

November | Diversified REITs Can Be Uniquely Focused

December | Buckle Up! Retail REITs are Traffic Drivers

 

2014

January | Role of Active REIT Managers in Investor Portfolios

February | Office REITs: Poised for Rental Rate Growth

March | Industrial REITs: Day in the Sun has Finally Come

April | The Chilton REIT Roadmap

May | Unhealthy Prognosis for Health Care REITs

June | Greener Real Estate Can Create More Green for Investors

July | This Bull has Room to Run: Why 2014 is Not Comparable to 2007

August | The Modernization of Student Housing

September | The Intersection of Classic Rock and Modern Pop

October | The Self Storage Playbook

November | Equity REITs: An Essential Piece in a Diversified Portfolio

December | You Can't Spell Retail without R-E-I-T

 

2013

January | Houston: Bull Market in Bayou City

February | Is This Commercial Real Estate Cycle Different?

March | When Cash Was King: A Look Back to 2006-2009

April | No Room at the Inn

May | Basking in Positive Conditions for Earnings Growth

June | What's Behind the Self Storage Door: Cash Flow!

July | REITs and Rising Rates

August | REIT Elite and Preferred Equity Repeat

September | This Race Ain't Over Yet

October | REIT Bricks and Retail Clicks

November | The Power of Towers: Connecting the Mobile World!

December | Data Centers: The Nucleus of the Digital Universe

 

2012

January | Do I Stay or Do I Go?

February | Investing in REITs: How Much Has Really Changed in 20 Years?

March | All Properties are Note Created Equal: Industrial Sector Focus

April | Embedded Growth on Aisle 9

May | Health Care: The (Growing) Age-Old Story

June | REITerating Our Macroeconomic View

July | USA! USA!

August | The REIT Elite: Comfort Food for Investors

September | "To Be, or Not to Be..." an Apartment Renter?

October | Equity REITs are Ready for Institutional Prime Time

November | Industrial Occupancy up with Manufacturing

December | Bending the San Diegan Time Space Continuum

 

2011

July | Role of REITs in Investor Portfolios

August | Equity REITs: Real Assets for Long Term Investors

September | Equity REITs: A Yield-Oriented Investment with Potential for Price Appreciation

October | New York, New York

November | A REIT-Car Named Volatility

December | Quality Snobs: Recycling Capital into High Growth Markets

 

FAQs

June 2012 | Publicly Traded Equity REITs

August 2012 | Equity REITs vs. Mortgage REITs

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