斯蒂芬萨沃＆Teamisi GroupFirst-Place外观：5
总出场：6
团队首次亮相：2009年
在这个阵容上的第1阵容，第五年跑是ISI Group的六个强大的阵容斯蒂芬萨沃。“他经常领先于市场，拥有对管理团队的最佳理解，并可以提供最佳的公司，”一位投资者在47岁的团队领导者中说。Sakwa, whom another supporter describes as “the most seasoned individual covering REITs today,” expects that cash flows for U.S. real estate investment trusts will continue to improve, since the supply-demand dynamic is healthy and will remain so as long as U.S. real gross domestic product posts gains of 2 to 2.5 percent and monthly jobs growth is about 200,000. In addition, he points out, low interest rates are supportive of improving real estate values. He and his colleagues foresee an 8 percent total return for the sector over the next 12 months. Year to date through mid-September, it gained 13.1 percent, besting the broad U.S. market by 5.8 percentage points. Among large-cap growth names, American Tower Corp. wins their favor. The owner and operator of broadcast towers trades at a lower cash flow multiple than the REIT average, explains Sakwa, and has funds from operations that should expand at twice the industry average. Moreover, the Boston-based REIT’s long-term performance drivers are intact, he advises, given the global development of fourth-generation wireless networks. Noting that high-end hotel supply remains muted, the researchers also tout luxury operators LaSalle Hotel Properties of Bethesda, Maryland, and Strategic Hotels & Resorts of Chicago. Finally, the squad also gives the nod to San Francisco–based Prologis, whose portfolio includes thousands of logistics and distribution facilities. “The U.S. industrial fundamentals continue to improve,” says Sakwa, “and the pace of new supply means that rents should continue to rise.”