REITs elect record number of women to their boards: report

Companies still are nowhere near gender parity

TRD NEW YORK /
Jun.June 26, 2018 02:30 PM

(Credit: Pixabay)

U.S. real estate investment trusts elected a record number of women to their boards this year, exceeding men for the first time.

Fifty-two percent — or 49 of the 94 — REIT directors named in 2018 were women, according to a new study by the professional services firm Ferguson Partners. This is up from 2017, when 41 percent of newly elected REIT board directors were women.

But, it’s not quite time to celebrate. Only eight of the 192 REITs that the report looked at have female chief executives. All told, only 17.5 percent of all directors of REIT boards are women, and 16.7 percent — or 32 of the 192 REITs — don’t have any women at all.

“To be frank, the REIT industry is not the most enlightened group when it comes to diversity around the table,” said Bill Ferguson, chief executive of Ferguson Partners, told the Wall Street Journal.

Certain institutional investors, including BlackRock and State Street Global Advisors have publicly said they would vote against corporate boards that don’t have female directors. Arjuna Capital and Pax World Investments have called on companies to close the gender wage gap.

In another sign that attitudes are shifting, Equity Group Investments’ Sam Zell faced considerable backlash after making a vulgar comment about women at the REITweek investor conference earlier this month. While speaking about gender diversity at the event, Zell said he promotes women based on merit and added: “I don’t think there’s ever been a, ‘We gotta get more pussy on the block, OK?’” [WSJ] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Judge Janet DiFiore and Judge Rowan Wilson (Credit: iStock, New York State Courts)

High court decision has tenants stewing, landlords oohing

Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

LA mayor orders a moratorium on commercial evictions

arrow_forward_ios
Loading...