Citi Private Bank Takes Overweight Position in REITs for the First Time

Last month, Citi Private Bank’s (CPB) global investment committee added an overweight position in REITs—the first time it has taken such a step.

Steven Wieting, chief investment strategist and chief economist at CPB, noted that the REIT market suffered a “very substantial correction” due to the COVID-19 pandemic. However, “for patient investors, this represents a significant valuation improvement for the sector and an entry point very different than the pre-COVID period.”