{"id":447479,"date":"2022-12-19T22:07:14","date_gmt":"2022-12-20T06:07:14","guid":{"rendered":"https:\/\/nai500.com\/?p=447479"},"modified":"2022-12-19T22:08:10","modified_gmt":"2022-12-20T06:08:10","slug":"reits%e5%92%8c%e8%82%a1%e7%a5%a8%e7%a9%b6%e7%ab%9f%e8%b0%81%e7%9a%84%e6%94%b6%e7%9b%8a%e6%9b%b4%e9%ab%98%ef%bc%9f%e7%9c%9f%e5%ae%9e%e6%95%b0%e6%8d%ae","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2022\/12\/reits%e5%92%8c%e8%82%a1%e7%a5%a8%e7%a9%b6%e7%ab%9f%e8%b0%81%e7%9a%84%e6%94%b6%e7%9b%8a%e6%9b%b4%e9%ab%98%ef%bc%9f%e7%9c%9f%e5%ae%9e%e6%95%b0%e6%8d%ae\/","title":{"rendered":"REITs\u548c\u80a1\u7968\u7a76\u7adf\u8c01\u7684\u6536\u76ca\u66f4\u9ad8\uff1f\u771f\u5b9e\u6570\u636e\u53ef\u80fd\u4f1a\u8ba9\u4f60\u5927\u5403\u4e00\u60ca"},"content":{"rendered":"<p>\u957f\u671f\u6295\u8d44\u80a1\u7968\u548c\u623f\u5730\u4ea7\u8c01\u7684\u6536\u76ca\u66f4\u9ad8\uff1f\u8fd9\u4e2a\u95ee\u9898\u4e00\u76f4\u4ee5\u6765\u6295\u8d44\u754c\u90fd\u4e89\u8bba\u4e0d\u4f11\u3002\u5f88\u591a\u6295\u8d44\u8005\u76f8\u4fe1\uff0c\u957f\u671f\u6765\u770b\u6295\u8d44\u80a1\u7968\u7684\u6536\u76ca\u6f5c\u529b\u6700\u597d\u3002\u7136\u800c\uff0c\u6570\u636e\u5374\u7ed9\u51fa\u4e86\u76f8\u53cd\u7684\u7ed3\u8bba\u3002<\/p>\n<p>\u4ee5\u4e0b\u662f\u80a1\u7968\u548c\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u57fa\u91d1\uff08REITs\uff09\u957f\u671f\u7684\u8868\u73b0\u3002<\/p>\n<h2>\u5173\u952e\u7ed3\u8bba\uff1a<\/h2>\n<ul>\n<li>\u65e0\u8bba\u662f20-50\u5e74\u7684\u65f6\u95f4\u5468\u671f\u5185\u8fd8\u662f\u5728\u6700\u8fd1\u76842021\u5e74\uff0cREITs\u90fd\u8dd1\u8d62\u4e86\u80a1\u5e02\u3002<\/li>\n<li>\u591a\u6570REITs\u7684\u6ce2\u52a8\u6027\u90fd\u4f4e\u4e8e\u6807\u666e500\u6307\u6570\uff0c\u6709\u4e9b\u6ce2\u52a8\u7387\u53ea\u6709\u5e02\u573a\u7684\u4e00\u534a\u3002<\/li>\n<li>\u81ea\u52a9\u5bc4\u5b58REIT\u7684\u6536\u76ca\u7387\u6700\u9ad8\uff0c1994\u5e74\u81f32021\u5e74\u671f\u95f4\u7684\u5e74\u5316\u6536\u76ca\u7387\u8fbe18.8%\u3002<\/li>\n<li>2012\u5e74\u548c2015\u5e74\u4ee5\u6765\uff0c\u57fa\u7840\u8bbe\u65bd\u548c\u6570\u636e\u4e2d\u5fc3REITs\u5747\u8dd1\u8d62\u6807\u666e500\u6307\u6570\u3002<\/li>\n<\/ul>\n<h2>\u6316\u6398\u5386\u53f2\u6570\u636e\uff1aREITs vs. \u80a1\u7968<\/h2>\n<p>1972\u5e74\u4ee5\u6765\uff0c\u5168\u56fd\u623f\u5730\u4ea7\u6295\u8d44\u4fe1\u6258\u534f\u4f1a\uff08NAREIT\uff09\u5c31\u4e00\u76f4\u5728\u8ddf\u8e2aREIT\u677f\u5757\u7684\u5386\u53f2\u6536\u76ca\u7387\u6570\u636e\u5e76\u4e3a\u6b64\u7f16\u5236\u4e86\u591a\u4e2a\u6307\u6570\uff0c\u5176\u4e2d\u5c31\u5305\u62ecFTSE Nareit All Equity REITs Index\u3002\u8be5\u6307\u6570\u5305\u62ec\u6240\u670912\u4e2a\u80a1\u7968\u578bREIT\u5b50\u677f\u5757\uff08\u5305\u62ec\u88ab\u5f52\u7c7b\u4e3a\u91d1\u878d\u516c\u53f8\u7684\u623f\u5730\u4ea7\u62b5\u62bc\u8d37\u6b3eREITs\uff09\u3002<\/p>\n<p>\u4ee5\u4e0b\u662f\u8fc7\u53bb\u8be5\u6307\u6570\u4e0e\u80a1\u5e02\u5e73\u5747\u6536\u76ca\u7387\uff08\u6807\u666e500\u6307\u6570\u7684\u603b\u6536\u76ca\u7387\uff09\u4e4b\u95f4\u7684\u6bd4\u8f83\uff1a<\/p>\n<table width=\"550\">\n<thead>\n<tr>\n<td>\u65f6\u95f4\u5468\u671f<\/td>\n<td>\u6807\u666e500\u6307\u6570\uff08\u603b\u7684\u5e74\u6536\u76ca\u7387\uff09<\/td>\n<td>FTSE NAREIT ALL EQUITY REITS\uff08\u603b\u7684\u5e74\u6536\u76ca\u7387\uff09<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1972-2021\u5e74<\/td>\n<td>10.7%<\/td>\n<td>11.9%<\/td>\n<\/tr>\n<tr>\n<td>\u8fc7\u53bb25\u5e74<\/td>\n<td>10.2%<\/td>\n<td>11.5%<\/td>\n<\/tr>\n<tr>\n<td>\u8fc7\u53bb20\u5e74<\/td>\n<td>9.5%<\/td>\n<td>12.7%<\/td>\n<\/tr>\n<tr>\n<td>\u8fc7\u53bb10\u5e74<\/td>\n<td>16.5%<\/td>\n<td>12.9%<\/td>\n<\/tr>\n<tr>\n<td>\u8fc7\u53bb5\u5e74<\/td>\n<td>18.5%<\/td>\n<td>13.5%<\/td>\n<\/tr>\n<tr>\n<td>\u8fc7\u53bb1\u5e74(2021\u5e74)<\/td>\n<td>28.7%<\/td>\n<td>39.9%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u53ef\u4ee5\u770b\u51fa\uff0cREITs\u5728\u8fc7\u53bb20\u5e74\u300125\u5e74\u4ee5\u53ca50\u5e74\u7684\u65f6\u671f\u5185\u8dd1\u8d62\u4e86\u6807\u666e500\u6307\u6570\uff0c\u540c\u65f6\u57282021\u5e74\u4e5f\u8dd1\u8d62\u80a1\u5e02\u3002\u800c\u6700\u8fd15\u5e74\u548c10\u5e74\uff0c\u80a1\u5e02\u7684\u6536\u76ca\u7387\u8981\u6bd4REITs\u66f4\u9ad8\u3002\u7ed3\u8bba\u5c31\u662f\uff0c\u6570\u636e\u663e\u793aREITs\u957f\u671f\u8dd1\u8d62\u4e86\u80a1\u5e02\u3002<\/p>\n<h2>REIT\u6536\u76ca\u7684\u9a71\u52a8\u529b\uff1a\u80a1\u606f<\/h2>\n<p>Morningstar\u548cHartford Funds\u7684\u6570\u636e\u663e\u793a\uff0c1930\u5e74\u4ee5\u6765\uff0c\u6807\u666e500\u6307\u6570\u603b\u6536\u76ca\u7387\u5f53\u4e2d\u768440%\u90fd\u6765\u81ea\u80a1\u606f\u6536\u5165\u3002Ned Davis Research\u548cHartford Funds\u8fdb\u4e00\u6b65\u6316\u6398\u80a1\u606f\u548c\u6536\u76ca\u7387\u6570\u636e\u540e\u8fd8\u53d1\u73b0\uff0c\u6807\u666e500\u6307\u6570\u6210\u5206\u80a1\u5f53\u4e2d\uff0c\u6d3e\u606f\u80a11973\u5e74\u4ee5\u6765\u7684\u5e74\u5747\u603b\u6536\u76ca\u7387\u4e3a9.6%\uff0c\u800c\u975e\u6d3e\u606f\u80a1\u7684\u6536\u76ca\u7387\u53ea\u67094.8%\uff0c\u80a1\u606f\u6210\u957f\u80a1\u7684\u6536\u76ca\u7387\u4e3a9.6%\uff0c\u80a1\u606f\u653f\u7b56\u4e0d\u53d8\u7684\u6536\u76ca\u7387\u4e3a7.1%\uff0c\u800c\u524a\u51cf\u548c\u53d6\u6d88\u6d3e\u606f\u7684\u6536\u76ca\u7387\u6700\u5dee\uff08\u8d1f\u76840.5%\uff09\u3002<\/p>\n<p>\u80a1\u606f\u5bf9REIT\u6536\u76ca\u7387\u7684\u5f71\u54cd\u66f4\u5927\u3002Nareit\u7684\u6570\u636e\u663e\u793a\uff0cREITs\u603b\u6536\u76ca\u7684\u5927\u7ea6\u4e00\u534a\u6765\u81ea\u80a1\u606f\u3002\u6807\u666e500\u6307\u6570\u6210\u5206\u80a1\u5f53\u4e2d\uff0c3\u53eaREITs\u5c5e\u4e8e\u80a1\u606f\u8d35\u65cf\uff08\u8fde\u7eed25\u5e74\u4e0a\u8c03\u80a1\u606f\uff09\uff0c\u53e6\u6709\u5341\u591a\u53eaREITs\u5c5e\u4e8e\u80a1\u606f\u6210\u5c31\u8005\uff08\u8fde\u7eed10\u5e74\u4e0a\u8c03\u80a1\u606f\uff09\u3002<\/p>\n<h2>REITs\u7684\u6ce2\u52a8\u6027\u66f4\u4f4e<\/h2>\n<p>\u6d3e\u606f\u80a1\u7684\u6ce2\u52a8\u6027\u4f4e\u4e8e\u80a1\u5e02\u3002Hartford Funds\u548cNed Davis Research\u7684\u6570\u636e\u663e\u793a\uff0c\u6d3e\u606f\u80a1\u7684\u8d1d\u5854\u7cfb\u6570\u4e3a0.94\uff0c\u4f4e\u4e8e\u6807\u666e500\u6307\u6570\u4ee5\u53ca\u975e\u6d3e\u606f\u80a1\u76841.18\uff0c\u80a1\u606f\u6210\u957f\u80a1\u7684\u8d1d\u5854\u7cfb\u6570\u66f4\u662f\u4f4e\u81f30.88\u3002\u6807\u666e500\u6307\u6570\u768418\u53eaREITs\u5f53\u4e2d\uff0c17\u53ea\u4e2a\u80a1\u7684\u8d1d\u5854\u7cfb\u6570\u5c0f\u4e8e1.0\u3002\u6bd4\u5982\u8bf4\uff0c<a href=\"https:\/\/nai500.com\/zh-hans\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%af%a2\/?qm_symbol=O\">Realty Income Corp\uff08NYSE:O\uff09<\/a>\u548cPublic Storage\uff08NYSE:PSA\uff09\u7684\u8d1d\u5854\u7cfb\u6570\u4e3a0.5\u6216\u66f4\u4f4e\u3002<\/p>\n<h2>REIT\u5b50\u677f\u5757\u5f53\u4e2d\u8c01\u7684\u8868\u73b0\u6700\u597d\uff1f<\/h2>\n<p>\u4ee5\u4e0b\u662f\u5404\u4e2a\u7c7b\u578b\u7684REIT\u7684\u8868\u73b0\u60c5\u51b5\uff1a<\/p>\n<table width=\"543\">\n<thead>\n<tr>\n<td>REIT\u5b50\u677f\u5757<\/td>\n<td>\u5e74\u5747\u603b\u6536\u76ca\u7387\uff081994-2021\u5e74\uff09<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u81ea\u52a9\u5bc4\u5b58<\/td>\n<td>18.8%<\/td>\n<\/tr>\n<tr>\n<td>\u5de5\u4e1a<\/td>\n<td>15.8%<\/td>\n<\/tr>\n<tr>\n<td>\u4f4f\u5b85<\/td>\n<td>14.4%<\/td>\n<\/tr>\n<tr>\n<td>\u533b\u7597<\/td>\n<td>12.7%<\/td>\n<\/tr>\n<tr>\n<td>\u529e\u516c<\/td>\n<td>12.1%<\/td>\n<\/tr>\n<tr>\n<td>\u96f6\u552e<\/td>\n<td>12.1%<\/td>\n<\/tr>\n<tr>\n<td>\u591a\u5143\u7ecf\u8425<\/td>\n<td>9.3%<\/td>\n<\/tr>\n<tr>\n<td>\u4f4f\u5bbf\/\u5ea6\u5047\u6751<\/td>\n<td>9.3%<\/td>\n<\/tr>\n<tr>\n<td>\u6807\u666e500\u6307\u6570<\/td>\n<td>10.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u5982\u8868\u6240\u793a\uff0c\u7edd\u5927\u591a\u6570\u7c7b\u578b\u7684REIT 1994\u5e74\u4ee5\u6765\u7684\u6536\u76ca\u7387\u5747\u8dd1\u8d62\u6807\u666e500\u6307\u6570\uff0c\u5176\u4e2d\u81ea\u52a9\u5bc4\u5b58REITs\u5c45\u9996\uff0c2021\u5e74\u7684\u603b\u6536\u76ca\u7387\u66f4\u662f\u63a5\u8fd180%\u3002\u4f5c\u4e3a\u4e00\u79cd\u8d44\u4ea7\u7c7b\u522b\uff0c\u81ea\u52a9\u5bc4\u5b58\u623f\u5730\u4ea7\u51c0\u8425\u4e1a\u5229\u6da62000\u5e74\u4ee5\u6765\u7684\u590d\u5408\u589e\u957f\u7387\u6700\u9ad8\uff084.8%\uff09\uff0c\u9ad8\u4e8e\u5de5\u4e1a\uff082.3%\uff09\u3001\u591a\u6237\u4f4f\u5b85\uff082.4%\uff09\u4ee5\u53ca\u529e\u516c\uff081.6%\uff09\u3002<\/p>\n<p>\u53e6\u4e00\u4e2a\u503c\u5f97\u5173\u6ce8\u7684REIT\u5b50\u677f\u5757\u662f\u5de5\u4e1aREITs\u3002\u5f97\u76ca\u4e8e\u7535\u5546\u7684\u5d1b\u8d77\uff0c\u5206\u9500\u4e2d\u5fc3\u4ee5\u53ca\u4ed3\u5e93\u7684\u5f3a\u52b2\u9700\u6c42\u9a71\u52a8\u5de5\u4e1aREITs\uff0c\u5c24\u5176\u662f\u805a\u7126\u4e8e\u7269\u6d41\u623f\u5730\u4ea7\u7684REITs\u5b9e\u73b0\u4e86\u5feb\u901f\u6269\u5f20\u3002\u6b64\u5916\uff0c\u4f4f\u5b85REITs\u8fc7\u53bb\u51e0\u5e74\u7684\u8868\u73b0\u4e5f\u5f88\u51fa\u4f17\u3002<\/p>\n<p>\u6700\u540e\uff0cNareit\u6700\u8fd1\u65b0\u6dfb\u4e864\u79cd\u8ddf\u8e2a\u623f\u5730\u4ea7\u7c7b\u578b\uff0c\u4ee5\u4e0b\u662f\u8fd9\u4e9bREIT\u5b50\u677f\u5757\u6210\u7acb\u4ee5\u6765\u7684\u8868\u73b0\u60c5\u51b5\uff1a<\/p>\n<table width=\"550\">\n<thead>\n<tr>\n<td>REIT\u5b50\u677f\u5757<\/td>\n<td>\u8ddf\u8e2a\u8d77\u59cb\u5e74\u4efd<\/td>\n<td>\u603b\u6536\u76ca\u7387<\/td>\n<td>\u6807\u666e500\u6307\u6570<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u57fa\u7840\u8bbe\u65bd<\/td>\n<td>2012<\/td>\n<td>19.5%<\/td>\n<td>16.5%<\/td>\n<\/tr>\n<tr>\n<td>\u6570\u636e\u4e2d\u5fc3<\/td>\n<td>2015<\/td>\n<td>19.0%<\/td>\n<td>14.9%<\/td>\n<\/tr>\n<tr>\n<td>\u7279\u79cd\u7ecf\u8425<\/td>\n<td>2015<\/td>\n<td>12.7%<\/td>\n<td>14.9%<\/td>\n<\/tr>\n<tr>\n<td>\u6728\u6750<\/td>\n<td>2011<\/td>\n<td>12.1%<\/td>\n<td>15.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u957f\u671f\u6295\u8d44\u80a1\u7968\u548c\u623f\u5730\u4ea7\u8c01\u7684\u6536\u76ca\u66f4\u9ad8\uff1f\u8fd9\u4e2a\u95ee\u9898\u4e00\u76f4\u4ee5\u6765\u6295\u8d44\u754c\u90fd\u4e89\u8bba\u4e0d\u4f11\u3002\u5f88\u591a\u6295\u8d44\u8005\u76f8\u4fe1\uff0c\u957f\u671f\u6765\u770b\u6295\u8d44\u80a1\u7968\u7684\u6536\u76ca\u6f5c\u529b [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":432876,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1521,430],"tags":[2125,519,663,1859],"class_list":["post-447479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1521","category-trends-strategies-zh-hans","tag-2125","tag-519","tag-663","tag-1859","sectors-real-estate-zh-hans","locations-us-zh-hans","exchange-nasdaq-zh-hans","exchange-nyse-zh-hans"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/447479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=447479"}],"version-history":[{"count":0,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/447479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/432876"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=447479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=447479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=447479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}