Real Estate Analysts

Senior Research Analyst
Lodging

David joined Baird in 2006 as senior analyst and Managing Director responsible for Baird’s coverage of hotel REITs and select hotel C-corps. Prior to joining Baird, he maintained similar coverage as a Managing Director in Friedman Billings Ramsey’s research department. During his 20 years of research experience he developed an extensive background in the hotel space having covered it since 1993. He also brings equity research experience from Credit Lyonnais Securities, CIBC World Markets (formerly Oppenheimer & Co., Inc.) and Bank of America. In both 2007 and 2008, David was ranked by StarMine as a Top 3 Industry Estimator in the Real Estate Investment Trusts (REITs) Industry. He earned an MBA from Washington University, and a BA in Psychology and Sociology from Brandeis University.

Senior Research Analyst
Office and Industrial

David is a Baird senior analyst covering REITs. Prior to joining Baird in 2007, he worked at A.G. Edwards for 14 years, most recently as REIT Group Leader. David received a BS in Finance from Missouri State University and an MBA with a finance emphasis from Saint Louis University.

Senior Research Analyst
Residential and Storage

Paula is a Baird senior analyst covering multi-family and student housing, and self-storage REITs. Prior to joining Baird in 2005, she worked for five years at Lehman Brothers in both investment banking and equity research. Paula received both her BS in Economics and Accounting, and her MBA in Finance and Strategic Management, from The Wharton School at the University of Pennsylvania.

Senior Research Analyst
Retail, Office, Industrial, Net Lease and Other

Chris Lucas is Baird’s senior analyst covering REITs. Prior to joining Baird in 2004, he was the senior REIT analyst for Ferris, Baker Watts; a Principal with KRA Capital Management, an institutional advisory firm specializing in real estate investing; Director of REIT Research for PricewaterhouseCoopers; Director of Research for the National Association of Real Estate Investment Trusts (NAREIT); and Director of the Real Estate Research Institute. In 2003 he was recognized by The Wall Street Journal as one of the Best on the Street for real estate, and was ranked second in the 2002 Forbes.com/StarMine Analyst Awards for stock picking. He received a BA in Economics from Virginia Polytechnic Institute and State University.