Two other strong names included Equity Lifestyle Properties, which operates RV parks, and Extra Space Storage, an REIT involved in self-storage facilities.
With a decline in home-ownership rates, Kirby saw ongoing upside in REITs that operate apartment buildings.
Specifically, Kirby liked AvalonBay Communities, Equity Residential and UDR.
“Whether it’s through an active manager, through a mutual fund, or through an index approach through an ETF, I think both are effective,” he said.
As a second-derivative play, Shelter Harbor Capital’s Brian Kelly continued to like U.S. Gypsum.
“As these foreclosed homes get turned into rentals, you’re going to have to fix up the walls. You’ve seen Sherman-Williams has been huge this year,” he said. “U.S. Gypsum, I still think you can get in.”
Guy Adami of Drakon Capital remained bullish on Home Depot, conceding that valuations “may be a stretch.”
“Even given the move we’ve seen, even given the fact I think the S&P is within earshot of a high, HD still works,” he said.
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Trader disclosure: On March 13, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Finerman is short AAPL calls; Finerman is long JPM; Finerman is long WMT; Finerman is long TGT; Finerman is long HPQ; Finerman’s firm is long BAC; Finerman’s firm is long JPM; Finerman’s firm is long HPQ; Kelly is long GLD puts; Kelly is long SMH; Kelly is long SPY calls; Kelly is long IWM; Kelly is long KRE; Kelly is long USG; Kelly is long MHK; Kelly is long XHB; Kelly is short EWA; Kelly is short EWY; Kelly is short Aussie dollar; Kelly is short Yen; Adami is long C; Adami is long GS; Adami is long INTC; Adami is long AGU; Adami is long NUE; Adami is long BTU; Stutland is long IBM and short calls; Stutland is long GE and short calls; Stutland is long KO and short calls; Stutland is long LQD; Stutland is long DIA puts; Stutland is long SFT and short calls; Stutland is short NLY put spread; Stutland is short TLT puts; Stutland is long TIPS
Stutland is long T and short calls; Stutland is long EFR floating rate treasury ETF; Market maker holding hedged positions in VIX futures and options
For Doug Kass
Kass is long TBT common and calls
For Mary Gilbert
No disclosure
For Jens Nordvig
No disclosures
For Fred Cannon
KBW expects to receive or intends to seek compensation for investment banking services from Bank of America Corp. in the next three months. KBW currently makes a market and/or acts as a liquidity provider in Bank of America Corp. securities.
KBW expects to receive or intends to seek compensation for investment banking services from BB&T Corporation in the next three months. KBW currently makes a market and/or acts as a liquidity provider in BB&T Corporation securities.
KBW expects to receive or intends to seek compensation for investment banking services from Bank of New York Mellon in the next three months. KBW currently makes a market and/or acts as a liquidity provider in Bank of New York Mellon securities.
KBW expects to receive or intends to seek compensation for investment banking services from Citigroup in the next three months. KBW currently makes a market and/or acts as a liquidity provider in Citigroup securities.
KBW expects to receive or intends to seek compensation for investment banking services from Fifth Third Bancorp in the next three months. KBW has received compensation for investment banking services from Fifth Third Bancorp in the past 12 months.
KBW currently makes a market and/or acts as a liquidity provider in Fifth Third Bancorp securities. Fifth Third Bancorp currently is, or was during the 12-month period preceding the date of distribution of this report, a client of KBW.
KBW expects to receive or intends to seek compensation for investment banking services from Goldman Sachs Group, Inc. in the next three months. KBW has received compensation for investment banking services from Goldman Sachs Group, Inc. in the past 12 months. KBW currently makes a market and/or acts as a liquidity provider in Goldman Sachs Group, Inc. securities. Goldman Sachs Group, Inc. currently is, or was during the 12-month period preceding the date of distribution of this report, a client of KBW.
KBW expects to receive or intends to seek compensation for investment banking services from JPMorgan Chase & Co in the next three months. KBW currently makes a market and/or acts as a liquidity provider in JPMorgan Chase & Co securities.
KBW expects to receive or intends to seek compensation for investment banking services from MetLife in the next three months. KBW currently makes a market and/or acts as a liquidity provider in MetLife securities.
KBW expects to receive or intends to seek compensation for investment banking services from Morgan Stanley in the next three months. KBW currently makes a market and/or acts as a liquidity provider in Morgan Stanley securities.
KBW expects to receive or intends to seek compensation for investment banking services from PNC Financial Services Group in the next three months. KBW currently makes a market and/or acts as a liquidity provider in PNC Financial Services Group securities.
KBW expects to receive or intends to seek compensation for investment banking services from U.S. Bancorp in the next three months. KBW currently makes a market and/or acts as a liquidity provider in U.S. Bancorp securities.
KBW expects to receive or intends to seek compensation for investment banking services from Wells Fargo & Company in the next three months. KBW currently makes a market and/or acts as a liquidity provider in Wells Fargo & Company securities.
For Scott Nations
Nations is long BAC
Nations is long C
For Mike Kirby
No disclosures
