The Real Deal Miami

The latest target for activist investors? REITs

Tactics used to shake up broader market get deployed more often

Clockwise from top left: Carl Icahn, Nelson Peltz, Bill Ackman and Richard Brand

From the New York magazine’s August issue: Corporate raiders like Carl Icahn and Nelson Peltz made CEOs’ pulses race in the 1980s, when they were providing inspiration for the “Wall Street” movie character Gordon Gekko.

Back then, however, just a sliver of the equity market was focused on the real estate industry. Fast forward a few decades and those raiders, now known more generously as “activist investors,” are flexing their muscles at a time when real estate investment trusts represent a substantial part of the financial sandbox they play in. [more]